(PRWEB) November 30, 2005
The autumn 2005 auctions at Christie’s and Sotheby’s have seen solid sales for colored diamonds. At Sotheby’s Important Jewels auction in September, yellow diamonds garnered the spotlight with a number of pieces which sold for above the expected selling price at recent auctions.
The Christie’s Magnificent Jewels auction in New York in October at the Rockefeller center also saw strong sales for a wide variety of colored diamonds. The highlight of the auction was a twenty-five carat pink diamond which saw multiple bidders competing and ultimately driving the price to more than double the reserve estimate and can be seen in the attached documents.
The Sotheby’s Hong Kong auctions at the end of October was considered a key gauge for Asian activity and yellows, pinks and browns sold particularly well and the results can be seen in the attached documents.
Pastor-Geneve has a number of clients who have acquired similar stones in the secondary market through estate sales and dealers and the indications are that prices for rare colored diamonds continues to rise. In a recent article in European Business Magazine both Pastor-Geneve and DeBeers concurred that the long-term potential for colored diamonds has never been stronger.
In the last five years, colored diamonds have gained mainstream recognition as an alternative asset class and investors looking to diversify their portfolio into hard assets are continuing to drive prices higher at the major public auctions. In an article published last year by the Sovereign Society and contributed by Pastor-Geneve, a number of important points for potential investors were raised.
For more information on colored diamonds, feel free to contact Pastor-Geneve.
http://www.pastor-geneve.com, Brusselstraat 51, B-2018, Antwerpen, Belgium.
Tel: 32 3 244 1871 Fax: 32 3 244 1873
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