Pink Diamonds

choi

Stephen Bell and Jason Chow, Chinese Investors Look for Sparkle: Rare pink diamonds are in demand; Jewelry industry increasingly geared toward Wealthy Asians. Wall Street Journal, July 17, 2011.
http://online.wsj.com/article/SB ... 32221237688032.html

Quote:

"Worried that traditional investments like stocks and bonds are losing their sparkle, wealthy Chinese are buying the gemstones to showcase alongside fine wines and contemporary art.

"Other colored diamonds are also hot: A record was set on Wednesday for the sale of a yellow diamond. The Sun-Drop diamond was sold for 11.2 million Swiss Francs, or $12.4 million, at a Sotheby's auction.

"Pink diamonds, produced almost exclusively at Rio Tinto PLC's argyle mine in the Kimberley region of Western Australia, are so rare that only a few dozen of the gemstones are offered annnually for sale.

"For every colored diamonds, there are at least 10,000 colorless, also called white, ones. This scarcity has helped underpin prices * * * In addition, pink diamonds may not be forever. The Argyle mine is due to finish operations in 2019, and Rio Tinto estimates thre may be only 500 quality diamonds left to be unearthed.

My comment: There is no need to read the rest.