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Fancy Coloured Diamonds seen as long term investment
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By Flon Chui
With additional reporting by JNA team
Rare fancy-coloured diamonds, of which the top quality achieved a record price level of more than US$1 million per carat at international auctions last year, are increasingly being seen around the world as a long-term investment.
Auction results at Christie’s revealed that prices of the rarest diamonds have soared significantly over recent years, making them a good investment for collectors throughout the world. According to the auction house, a fancy intense blue rectangular cut diamond of 3.17 carats, which previously sold for US$525,000, or US$165,615 per carat in January 2004, fetched $US 1 million, or US$ 315,460 per carat in April 2006 – the price having risen by 90 percent in about two years
“In the past few years, prices of fancy-coloured diamonds have gone up 20 to 50 percent, the percentage varying depending on the colour and rarity. For instance, prices of yellow diamonds, which are relatively abundant in availability, have gone up about 20 percent. But if it is a vivid yellow, the price will have gone up to about the same level as a pink or a blue diamond, the prices of which have gone up by from 70 – 80 percent. This reflects the market demand for rare-fancy coloured diamonds” said Regine Ngan, graduate gemologist of Christie’s Hong Kong.
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At a glance: *Prices of rare fancy-coloured diamonds have gone up markedly over recent years, making them a good investment among collectors *Fancy-coloured diamonds, particularly for the rare red, blue, green, pink, and vivid Yellows, are hot picks *Diamond dealers revealed an overwhelming demand, not only in the sophisticated markets but also in new emerging markets such as Russia and Asia |
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