For World's Super-Rich, A Pink Diamond Is Forever
For the World's Super-Rich, the investment of choice is increasingly a very rare naturally Pink Diamond, an asset class that this year has set records at auction.
Tobias Kormind, Managing Director of 77 diamonds, which has a shop in London's Mayfair District and sells online, says the trend for colored stones has gathered strength as the world emerged from financial crisis.
He says that even though red and orange stones are harder to find, buyers have shown a clear preference for the color pink.
Naturally colored diamonds occur because of a particular lattice structure, formed when they were created at great pressure in the earth's crust that refracts light to produce colored rather than white stones.
Depending on their exact structure, colored diamonds can be blue, yellow, red and pink, but pink is both rare and esthetically highly prized by collectors.
The most expensive category, the Vivid Pink Index, shows an average annual price rise of more than 14 percent since 2005. Other pink diamonds have risen more than 13 percent per year.