August 24, 2013

The $14 Million Diamond

Recently Sotheby’s auctioned a 74.79 carat diamond with the diamond having the coveted “D” colour designation, the diamond sold for $14.2 million.  This sale exceeded the pre sale price of $9 to $12 million that was expected for the said diamond. The bidding for this Sotheby’s diamond was attended by five bidders.

Sources at Sotheby’s hinted at an interesting assumption. The same diamond was sold for $4.3 million in 2001. The value has shown a threefold increase in these 12 years thereby providing an annual return of over 20 percent.

It is interesting to quote here that Sotheby’s sale was followed by some other big diamond sales. In 2011 the $115 million Liz Taylor Jewellery sale was much in the news.

However, sources at Sotheby were not ready to share much information on the make or origin of the diamond. They only pointed out that the $14 million stone was not too old to consider the same as historic.

Regardless of this fact, the pear shaped diamond turned out to be a worthy investment for the seller.

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