The Finest in Show
February might be the month of love but I argue it's also the month of jewelry. With diamonds holding the long time position as front running gem of choice when it comes to expressing that love. In even more recent years coloured diamonds have been having their moment with the shinning star of this category being given to the elusive and much desired pink diamonds.
Very few do second hand jewelry better then M.S. Rau Antiques in New Orleans. Frank swears this is hands down the best antique store he has ever stepped foot into, and we all know Frank knows his antiques.
M.S. Rau Antiques recently published an interesting article on what makes these pink diamonds so drool worthy and here is what I learnt. Nothing is quite as exciting as exclusivity and these babies are rare. So rare that they make up only 0.03% of the annual diamond production worldwide. In addition to this 90% of the world's supply of pink diamonds are sourced in the Argyle mines in Australia which is projected to close in 2020 further narrowing the supply. Now add in the element of mystery, because unlike blue or yellow diamonds made from baron and nitrogen molecules we are still unsure what leads pink diamonds to be pink. There is speculation it may be due to the displacement of carbon while under pressure during formation but that is still up for debate.
All this has helped lead to their rise in popularity and value. Currently pink diamonds can be 10-100x more valuable then a white gem with a similar weight and clarity grade. The most desirable grade of pink diamond is what is called a fancy vivid, not the most saturated pink but the pink deemed the most "pure". An example of this grade was given with The Pink Star, sold by auction in April 2017, a 59.6ct-carat oval mixed cut fancy vivid pink diamond. It sold for a world record $71 million at a price per carat of $1.19 million. Now there is Valentines's Day gift.
For the rest of us, we might just need to get used to seeing these rare and exciting gems continuing to pop up and steal the show.
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