Rare diamond and gemstone prices have been steadily rising over the past year, and auction houses have been selling investment grade gemstones at record sales. More and more, people are leaving currently risky investments such as financial and real estate, and moving towards hard assets. Sentry brand safe manufacturer reports sales of safes up 70% since last years amid financial turmoil as reported via NPR.
At the Christie's June 2008 Hong Kong Jewelry Auction numerous records were set for rare gemstones:
· A 101.27ct F, VVS1 diamond was sold to a private collector for US$6.2million - THE LARGEST DIAMOND EVER SOLD AT AUCTION IN ASIA.
· World record price per carat for an emerald: A pair of Romanov emeralds sold to an Asian Private Collector for US$2,409,241 (lot 2346).
· World record price for a green diamond at auction: A square-shaped fancy green diamond of 10.36cts fetched US$3,485,281 (lot 2340).
· The Chloe Diamond, an 84-carat stone sold by Sotheby's in Geneva last year for $16.2 million, fell just short of the world record for the most expensive diamond ever sold at auction.
Other recent record sales for Ruby and Sapphires
· A record selling price for ruby was set at Christie's in St. Moritz on February 15 2007 when an 8.62 carat cushion-cut ruby realized a price of $425,000 per carat $3.6million.
· In April 2007 at Christie's New York Auction, a 22ct Kashmir sapphire sold on behalf of the Minnesota Historical Society which realized $3,064,000, making it the most expensive sapphire in the world.
Michael Arnstein, a rare gemstone dealer with The Natural Sapphire Company, says:
"We've never seen interest in gemstones like this before. Clients are coming out of the woodwork for larger more expensive gemstones. Half of our clients specifically ask us about "˜investment grade'. Many of our clients are disenchanted with traditional investments. With the stock markets crashing and real estate being an unknown, people are looking for alternatives to park their cash."
The Natural Sapphire Company (http://www.TheNaturalSapphireCompany.com) (founded in 1939) is a specialty gemstone company only dealing with natural untreated sapphires of the finest quality. They have offices in New York, Colombo Sri Lanka, Bangkok, Mumbai and soon opening in Tokyo.