As previously reported by the MO Down, recent auctions of rare fine diamonds, gemstone and jewels have brought in unprecedented sales. It seems that diamonds are the new currency an affluent few are hedging their bets on. More than 450 pieces of jewellery drew at least $40 million in a Christie’s auction this week from buyers seeking to hedge against financial risk. Diamond prices have risen 20 per cent since last year, perhaps reflective of uncertain times for stocks and currencies. No doubt the price of diamonds is set to increase.
On October 20, the “Jewels: The New York Sale” will feature the Bulgari Blue Diamond for auction, likely to sell for $12 million (USD of course). Purchased in 1972 for $1 million this is the largest blue diamond to ever be offered at auction. The auction will also feature diamonds from Cartier, Van Cleef & Arpels and Boucheron. According to Christie’s, sales of jewellery has risen 75 per cent since this time last year!
Image credit: dailygalaxy.com
Follow MO Luxury's Facebook page for more luxury news...