Pink 5.5 Carat Diamond Sells For More Than $9 Million
An oval pink diamond sold for $9.5 million at Christie’s New York Important Jewels sale on Tuesday, June 10. The light pink diamond was 5.5 carats. An original estimate placed the diamonds value at $7.5 million.
“Colored diamonds continued their fabulous run at Christie’s spring auction season, with multiple phone lines bidding enthusiastically on the vivid pink. With the sale of The Winton Blue, The Ocean Dream, and the Oval Vivid Pink, Christie’s achieved $42 million for these three exceptional diamonds alone,” international head, Rahul Kadakia, said of the auction.
Diamonds’ value are largely determined by carats. Large diamonds are rare. Exceptionally large diamonds, such as the 5.5 oval pink diamond, sell for exponentially higher prices. Experts also reveal that naturally colored diamonds earn more. “There’s no price volatility with natural fancy colored diamonds. They’ve never gone down in value, [and] they’ve never been poised to appreciate more,” investor Colin Ferguson explains.
Although you may be most likely to see natural, pink diamonds, Ferguson adds that naturally colored, brown diamonds are a good starting investment. Brown diamonds actually include an array of colors, such as “champagne, cognac, chocolate, and hazel diamonds,” according to Resource Investing News. Overall, Tuesday’s auction earned nearly $29 million.