November 26, 2013
In 2005, jeweler Laurence Graff purchased a 50.01-carat diamond for $4.2 million. He then sold it, but when the gem went on the market again in 2012, Graff had to pay $8.4 million to get it back.
The fact that the price of an individual stone doubled over the course of 7 years speaks to the investment value of diamonds in general. And while $8.4 million may seem like a high price to pay, it pales in comparison to the sums that colored diamonds have recently been selling for.
A 59.6-carat fancy vivid pink diamond sold for $83.2 million earlier this month (after having been estimated at over $60 million), and a 14.82-carat orange diamond—called the “largest fancy vivid orange diamond in the world”—went for $35.5 million, nearly double what it had been expected to sell for.
Rahul Kadakia, head of jewelry for Christie’s Americas and Switzerland, explained that, “In the colored diamond world $1 million per carat is now normal, which in itself is a headline.” In October, a 1.56-carat fancy red diamond from the Argyle Diamond Mine sold for over $2 million—the highest price per carat for a diamond produced from the mine.
Whether for jewelry or for investment, interest in diamonds is as high as it’s ever been.
Sell Diamonds for Cash Today
With demand on the rise, now is the perfect time to sell your old and unwanted diamond jewelry for cash. Cash for Diamonds USA pays more than the competition—guaranteed—and all you have to do to get your check in the mail is request a free SAFEPAK and send in your diamonds. Our appraisers are certified by the GIA, and your satisfaction is guaranteed.
This post has not been revised since publication.