A very rare naturally pink diamond, an asset class that this year has set records at auction, could be an incredible choice for the world’s super-rich.
According to the , managing director of 77 Diamonds, Tobias Kormind, , who has a shop in London’s Mayfair district and sells online, “ The trend for coloured stones has gathered strength as the world emerged from financial crisis.”
Kormind told, “Very savvy investors clocked on to the fact these coloured stones are so incredibly rare.”
Diamonds with natural colour occurs due to the particular lattice structure, formed when they were created at great pressure in the earth’s crust that refracts light to produce coloured rather than white stones. Blue, yellow, red and pink, colours of the diamond depend on their exact structure. According to the analysts, the pink colour diamond is both rare and aesthetically highly prized by collectors.
“Pink diamonds are not a bubble. There is a market. People are not just buying, but selling. There is economic sense to this,” Edahn Golan, of Edahn Golan Diamond Research & Data, said.
It is noteworthy here that a huge 59.6-carat pink diamond, the “Pink Star” was sold for a record 71.2 million dollars in Hong Kong in April.
Approximate 90 per cent of the world’s pink diamonds comes from the Rio Tinto’s Argyle mine in Western Australia, which has been operating since 1983, meaning its deposits are exhausted.According to the sources it is due to close in 2021.
Rio, however does not disclose how much the pink gems add to its balance sheet, but told that Rio Tinto’s Argyle pink diamonds have averaged double-digit growth for the last decade.