The incredible $25,641.00 USD per carat auction sale at Phillips Auction House in Geneva set the stage for the brown diamond industry
NEW YORK, UNITED STATES, September 28, 2021 /EINPresswire.com/ — Perhaps the single most positive influence in the development of the brown diamond market occurred 20 years ago with the groundbreaking effort of the Argyle Mine company in Australia to market browns for the rare and distinctive diamonds that they are. They developed a descriptive language for brown diamonds using names like cognac, champagne, amber and burnt orange to better describe the full range of brown diamonds coming from their mine.
To explain the color range to both trade and public, they also created their own color grading scale, further promoting the perception of different nuances in brown diamonds. Argyle also initiated a jewelry design competition specifically for brown diamonds. And the major design houses have embraced brown, often with stunning effect! They have become the favorite of cutting-edge Italian designers like Pasquale Bruni, Damiani and Alfieri and St. John and are now regularly found for sale at Tier 1 & 2 Auction Houses beside their more expensive counterparts.
Today, brown diamonds are truly a world unto themselves! In May 2001, a 4.51 Fancy brownish orangy yellow diamond of good clarity sold at Phillips Auction House in Geneva for an incredible $25,641.00 USD per carat. Perhaps it was this groundbreaking price that set the stage for brown diamonds to take their rightful place as a regular item in auction house catalogues.
It is no longer unusual to see brown diamonds at auction. In November, 2003 three brownish yellow diamonds of 2.70, 2.82 and 6.14 carats with modest SI1 clarity gradings, sold for $12,083, $11,569, and $12,158 per carat at Christie’s, Geneva. These 3 stones have set the tone going forward for full acceptance of brown and brown modified diamonds at auction.
Deep brown diamonds, especially those with an orange modifier (burnt orange) are arguably among the most visually spectacular-colored diamonds on the planet and currently among the most affordable! But for how long? David Federman, in his book, “Consumers Guide to Colored Gemstones” is more emphatic. He writes, “Another fancy color diamond dealer wears a diamond wedding ring with a 1 carat brownish orange emerald cut stone, reminiscent of peak color autumn orange foliage that is among the most beautiful diamonds this writer has ever seen. Yet the cost to a consumer of a similar best of breed brown would be far less than that of the finest white 1 carat diamond – even though the brown stone is rarer!”
The pink diamond is becoming a rarity
After 40 years, The Rio Tinto’s Argyle diamond mine closed its operation. This means there is scarcity of colored diamonds. According to Clare Ballentine of Financial Post, “Since there are no other equitable sources of pink diamonds, we can expect that after the closure of the Argyle mine, the market will face a shortage of pink diamonds supply going forward,” she says.
Due to scarcity, the price the price of the Argyle pink diamond has increased over the years. Scarcity creates demand. If anyone is in need to invest in colored diamonds, Premier Diamond Group (North America) Ltd. is available for consultation.
Like with any investment, it is the responsibility for the investor to seek expert advice or do some due diligence. There are vast resources on natural colored red diamonds available to the public. However, the President of Premier Diamond Group (North America) Ltd, Mr. David Metcalfe is available for consultation. He is a pioneer in the branding of natural colored diamonds as a hedge against excessive market volatility brought about by speculation and government credit excesses. For more information, go http://premierdiamondltd.com/contact-us/.
About Premier Diamond Group (North America) Ltd
Premier Diamond Group specializes in the purchase and sale of natural colored diamonds for wealth accumulation and estate planning purposes. The firm holds membership in the International Colored Gemstone Association and the U.S. Chamber of Commerce. For more information, go to http://premierdiamondltd.com/.
This press release is issued through EmailWire (www.emailwire.com) — the global newswire with press release distribution services.
Mr. David Metcalfe
Premier Diamond Group (North America) Ltd
email us here