A Classic Chanel Handbag, Hermès Birkin Bag, vintage Rolex submariner or a Daytona, oil paintings by Picasso, Andy Warhol, or even pop artist Wayne Thiebaud are all luxury goods whose resale values have only increased over the years. Over the last two decades or so, the famed Pink Diamonds from the Argyle Mine from Western Australia also fall in the same category. As the single biggest provider, Argyle mine supplies more than 90% of the world’s Pink diamonds. Post the recent announcement of the mine shutting down in 2020 by Rio Tinto, the owner, and operator of the diamond mine, the value of these Pink Diamonds have since skyrocketed.
Just like in any diamond, cut, colour, clarity, and carat weight are the quality metrics with colour playing the most important role, certified ‘fancy vivid’ pink diamonds are less than 0.1% of all the rough diamonds in the world. This means that for every 1 Million diamonds in the world mined, less than 1000 diamonds are Argyle mine pink diamonds and then of those very few are categorized as ‘fancy vivid’ pink diamonds. For this reason and combined with the fact production will be closed soon, these diamonds are highly valued. Collectors and investors have since started investing heavily in these diamonds.
Pink diamonds encrusted jewellery in Gold, Platinum, and other precious metals is the new favourite of the rich and famous. In 2002, Jennifer Lopez was the first to garner worldwide media attention when she was gifted a 6.1-carat pink diamond engagement ring by Ben Affleck. Created by the iconic Harry Winston, the ring was worth $1.2 million then. Today, the ring would be worth many times over. More recently, Kylie Jenner was seen with a 4 – 5 carat ‘Fancy-Vivid’ Pink Diamond engagement ring encrusted in platinum and other white diamonds. The ring is estimated to be insured for roughly $5 Million. Katy Perry too was recently in the news for her Pink-diamond engagement ring given by Orlando Bloom. While details of the diamond have not been disclosed, few estimate that the value could be anywhere between $50,000 to $150,000 depending upon the colour and clarity etc. And if the diamond happens to be ‘Fancy-Vivid’, the value could be well worth over $2 million dollars. Lady Gaga was another celebrity who has been seen with a pink diamond recently. The 6 – 7 carat engagement ring is valued at around $400,000. The pink beauties have known to sell well in auctions as well. ‘Pink Legacy’, the 18.96 carat Pink diamond sold in a Christie’s Auction for $50 million dollars in under five minutes of bidding, setting a new record for per carat price in the world of diamonds. The diamond deserved such a price simply because of the fact that certified ‘fancy-vivid’ pink diamonds larger than 10 carats are rare and mostly unheard of.
As large sized premium quality diamonds sell for hundreds of thousands of dollars, steadily rising demand for these diamonds has led to jewellers creating jewellery collection with smaller diamonds as well. Gold jewellery encrusted with Pink diamonds is the new trend that consumers are lapping up. Gemporia, a British TV Jewellery channel has partnered with Rio Tinto’s Australian diamond division to create a spectacular collection of Argyle Diamond jewellery exclusively for Gems TV. World renowned jewellery brands Harrods and Tiffany also have a wide array of gold pieces encrusted with pink diamonds. Similarly, various premium jewellery brands have bespoke gold jewellery designs with these beauties. While Pink Diamond jewellery is widely popular in America, Europe, Japan, and South Korea, new markets such as China and India are opening up with demand steadily rising from Middle class, upper middle class and high net-worth individuals looking to invest in them.
Gold jewellery and bullion have always been a safe haven for investments. With Pink Diamonds sharply rising in their value the union of the two in jewellery will certainly be a combination that consumers would love to get their hands on.
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