Recent Auctions Underscore Colored Diamond Interest, Notes Toronto's Paragon International (1)

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Recent Auctions Underscore Colored Diamond
Interest, Notes Toronto's Paragon International -
Diamonds and especially the fancy colored
stones continue to hold investors in thrall,
and auction houses are ensuring the fascination
endures with sales featuring some stunning
selections. The market for diamonds continues
on its upward trajectory," said Michael King,
Director of Trading for Paragon International
Wealth Management. "And it's not just the beauty
and unusualness of many of the offerings that
impress us. The prices are also breathtaking."
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Toronto-based Paragon International Wealth
Management is a leader in acquiring and managing
hard investment assets, with a specialty in fancy
colored diamonds. King noted that Sotheby's
spring sale this month of Magnificent Jewels and
Noble Jewels in Geneva will highlight the most
valuable pair of fancy colored diamond earrings
ever sold at auction. The rare stones are the
14.54 fancy vivid blue Apollo Blue, estimated at
38 million to 50 million, and the 16-carat
Artemis Pink, at 12.5 million to 18
million. Meanwhile, last month, Christie's New
York Magnificent Jewels Sale offered up 332 lots
with numerous fancy colored diamonds among the
highlights. These included a 3.02-carat fancy
intense pink diamond estimated at 1.5 million
to 2 million, which is mounted on a platinum and
gold ring and flanked by baguette-cut colorless
diamonds. A less pricey offer at 300,000 to
500,000 was a 23.56-carat fancy intense yellow
diamond set in a platinum and gold ring and
covered with colorless and circular-cut yellow
diamonds. King pointed out that auctions like
these, with considerable focus on colored
diamonds, continue to fuel investors' appetite
for such hard investment assets. "Their scarcity
is in part what drives their value," he said,
noting that colored diamonds generally have
appreciated by 142 percent since 2009. But,
it's the rarest pink diamonds that have really
soared by 315 percent, in fact, according to
the Fancy Color Research Foundation. It's a fact
that was underscored by the recent auctioning of
the unique Pink Star diamond for 71.2 million.
As King said "It all makes for exciting times
for those of us who know and appreciate the
world of colored diamonds."
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Paragon International Wealth Management 5000
Yonge Street Suite 1901 Toronto, ON M2N 7E9 TEL
1.416-548-5636 FAX [phone] Toll Free
1.855-366-5636 Email info_at_paragoniwm.com