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  3. Here is why this rare purplish-red diamond was sold for INR 20.6 crore!

Here is why this rare purplish-red diamond was sold for INR 20.6 crore!

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Here is why this rare purplish-red diamond was sold for INR 20.6 crore!

By -
TIMESOFINDIA.COM
Created: Nov 29, 2020, 18:00 IST
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Here is why this rare purplish-red diamond was sold for INR 20.6 crore!
A super rare diamond ring of purplish-red hue of 1.05 carats was recently sold for a whopping price. It set a world record at the famous Christie’s auction in Geneva as it was sold at a whopping price of USD 2.77 million which translates into INR 20 crore approximately.
The price of the rare rectangular-cut fancy diamond ring of 1.05 carats, established a house and worldwide record of price per carat for a diamond of the specific colour. The stone is mounted on a platinum and gold ring flanked by two heart-shaped diamonds.

Red-coloured diamonds are known to be the most expensive of all diamonds due to their rare occurrence. The reason that brings the colour to red diamonds has been a topic of debate for a long time but several gemologists have attributed it to the presence of the gliding atoms in the structure of the diamond.
A diamond undergoes enormous levels of pressure during its formation which alters its atomic structure imparting a particular colour to the gem.


The 1.05-carat fancy purplish-red diamond with VS2 clarity was bought by Tiara Gems and Jewellery DMCC owned by Dubai-based Indian expat Ashish Vijay Jain.


“The jewelry industry is growing rapidly, becoming more competitive and must be sensitive to consumer sentiment. Amidst the COVID-19 pandemic, there will always be interest for rare stones, which are an investment opportunity,” he said.


Christie’s Magnificent Jewels auction at the Four Season Hotel des Bergues in Geneva featured a curated selection of historic and modern jewellery from all periods as well as the most famous jewellery houses.


With inputs from ANI
End of the article

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