19 Jun 2018

Nest Egg: Diamonds in your SMSF, darling?

This following article was first featured on nestegg.com.au

A kiss on the hand may be quite continental, but are diamonds an investor’s best friend?

It depends, SMSF technical expert and general manager at Super Concepts Graeme Colley told Nest Egg.

He said the diversification prospects offered by investing in precious gems need to be worth the liquidity risk and administrative burden.

“Of all the around 20,000 funds we’ve got [at Super Concepts], we’d have around about 10 that would have diamonds in them and they range from clear diamonds right through to the more expensive coloured diamonds,” Mr Colley said.

“They’ve made a choice to invest in that. It’s not a particularly large percentage of the fund, even though diamonds are relatively expensive, so what they look at is the diversification of the investment.”

He said larger SMSFs are generally more suited to investing in diamonds in order to spread the risk and warned that liquidity can be a problem if the fund is overweight in diamonds.

Anna Cisecki, executive director at specialised diamond brokerage Australian Diamond Portfolio, agreed that liquidity poses a risk, along with choosing poor-quality or common stones.

She said red, blue and pink diamonds are the best bet for would-be investors, given their rarity and potential for future price appreciation.

Noting these stones have seen performance rise by nearly 13 per cent per annum over the last 12 years, Ms Cisecki predicts this growth will continue given the nearing closure of the Argyle Diamond Mine, which produces more than 90 per cent of the world’s pink diamonds.

“Diamonds also tend to hold their value even when financial markets are volatile, so they provide some diversification benefits when looked at in the context of an overall SMSF portfolio,” she added.

“Diamonds are not best suited to short-term investors, as they don’t offer daily liquidity like shares, so investors should ideally have a three to five-year plus timeframe if they’re looking at this sector.

“To help ensure you’re picking a quality diamond, most investors like SMSF trustees will work with a specialised diamond broker… who will source a diamond on their behalf, and ensure they diamonds are independently assessed and valued by a certified diamond laboratory.”

Mr Colley said SMSF trustees should also be aware of the different restrictions and requirements on investing in diamonds.


Trustees need to understand the difference between investment diamonds and jewellery.

“With an investment diamond you can stick it in your back pocket if you’re that excited … whereas if it’s jewellery, it falls under the artworks and collectibles rules in the superannuation legislation and they’ve got to be stored in a particular way and they’ve got to be insured,” Mr Colley said.

“You can’t use them as jewellery personally because it’s in breach of the [sole purpose test] rules as well.”

He said most people with investment diamonds store them in a bank vault, or in a personal safe.


Diamonds owned by a member can’t be put into an SMSF.

“Grandma’s ring, if it came to you after her death, can’t go into the fund. That’s an important consideration, it’s not only things that you might own personally going into your own fund but also any other trustees of the fund,” Mr Colley said.


SMSFs need to have the assets valued at market value every year, Mr Colley said. Members may need to prove the existence and storage of the diamond and may also draw the attention of auditors.

“Being able to justify or certify where they are can be an important consideration as well,” he said.

“For those that are thinking of going ahead with it, they really need to look at it as to whether it’s a true investment or they’re just doing it because their heart’s telling them to do.

“Be sensible, diversify your investments and make sure it’s a good investment.”

Source: nestegg.com.au
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16 May 2018

Historic blue diamond auction exceeds expectations — sold for AUD$9 million

A 6.16-carat blue diamond that was secretly passed down through European royalty over three centuries has fetched USD $6.7 million (AUD $9 million) at a Sotheby’s auction in Geneva — USD $1.4 million (AUD $1.9 million) more than what experts expected it to be sold for.

The pear-shaped, dark grey-blue gem, known as The Farnese Blue, is believed to be one of the most important historical diamonds left in private hands until today, which was the first time the stone was put up for sale.

Found at India’s Golconda mines, it was given to Elisabeth Farnese, daughter of the Duke of Parma, in 1715 to mark her marriage to King Philip V of Spain.

The royal couple descendants owned the Farnese Blue, as they married into other European families, travelling from Spain to France, Italy and Austria. During more than 300 years, nobody — except from close relatives and the family jewellers — knew of the gem’s existence.

This was the first time The Farnese Blue, passed down through European royalty, went on sale. (Image courtesy of Sotheby’s)

“All this time, it was hidden away in a royal jewellery box,” Philipp Herzog von Wurttemberg, chairman of Sotheby’s Europe, said in a statement.

“With its incredible pedigree, the Farnese Blue ranks among the most important historic diamonds in the world,” he noted.

The last person to own the diamond before today was one of Elisabeth’s descendants.

Sotheby’s has not released the identity of the buyer.

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30 Apr 2018

The Inner Facets Of Diamond Investing

Anna Cisecki, Executive Director of Australian Diamond Portfolio, was asked to contribute to Equity magazine, a monthly publication issued by Australian Shareholders’ Association (ASA), the peak body representing independent investors in Australia.

With growing interest in pink diamonds, the article below outlines the main reasons to invest in pink diamonds, an overview of performance, as well as some tips on investing.


Over the last 15 years, demand for investment grade pink diamonds has soared, with investors all over the world, including in Australia, seeking to purchase these truly unique assets.

Australian Diamond Portfolio (ADP) has had a front row seat facilitating the growth in this sector locally, and has helped thousands of Australians source, store and trade pink diamonds.

In this article, we look at some of the benefits, & logistics, of investing in this asset class.

There are many benefits that pink diamonds bring to a well-diversified investment portfolio. For Australian investors with a SMSF, we see three key reasons why these precious stones should be on the radar.

Pink diamonds offer potential for capital gains

Over the past decade and more, anyone that has purchased a pink diamond has seen a significant appreciation in value on their investment. This is captured in the chart below, which highlights the growth in prices across several categories of investment grade pink diamonds since 2005.

All categories have appreciated in a similar manner over the period, averaging between 12-20% per annum.

Whilst international equities and other more traditional asset classes have appreciated strongly in the past few years, the returns from pink diamonds since 2005 exceed most listed assets.

We expect the strong capital gains to continue in the years ahead, as a wave of new demand is likely to coincide with a spectacular decline in supply.

On the supply front, it is important to note that almost 95% of annual natural pink diamond supply is mined right here in Australia, at Rio Tinto’s world-famous Argyle Mine. In operation since the early 1980s, the mine is scheduled to completely cease production by 2020, as supply has been exhausted.

This pending closure of the world’s primary source of pink diamonds is a major bullish factor for the investment diamond market.

On the demand side, whilst equities have had a great run since early 2009, valuations are now increasingly stretched (especially in the United States), whilst bond yields are still hovering near multi-generational lows.

With inflation starting to stir, and cash accounts in most of the developed world still paying close to zero in real terms, every day more and more investors are turning to alternative hard assets, including diamonds, as returns in more traditional assets are likely to be limited in the years ahead.

Given the supply constraints discussed above, higher demand can only be met through higher prices.

Pink Diamonds provide protection from market volatility

Pink diamonds have shown very good stability and consistency of performance over the long-term. Unlike more volatile assets such as shares, they do not suffer the violent ups and downs that can understandably rattle investors.

This can also be seen in the previous chart, which highlights the fact that there has been almost no downward movement in the 13 or so years of market data the chart covers, including the period that encompassed the worst of the GFC.

Instead, pink diamonds offer many years of relatively modest gains, interspersed with years where investment demand and prices soared. These are valuable attributes in any investment.

 Pink diamonds provide an Australian dollar hedge

As diamonds are priced in US Dollars, they will benefit from any fall in the Australian dollar, which will increase the price of the diamonds domestically.

Given many economists expect the AUD to fall in the coming years, currency diversification, is becoming increasingly important to SMSF trustees.

Diamonds offer a relatively straightforward, and unique way of achieving this currency diversification, whilst simultaneously giving the investor exposure to an uncorrelated hard asset.

Adding all this together, whilst diamonds are a non-income producing asset, and are definitely not best suited for short-term traders, they can play a role in a portfolio, as the potential for capital appreciation, the protection from market volatility, and the Australian dollar hedge combine to provide important diversification benefits for Australian investors.

Tips for Investing

Whilst many might imagine that investment grade pink diamonds are the preserve of ultra-high net worth individuals, the market is actually very accessible to a far wider pool of investors, including SMSF trustees.

At a minimum, investors would need to commit to AUD $20,000 per stone, though in our experience, most investors accessing this space tend to start with an investment closer to AUD $50,000, and often work their way up to portfolios of AUD $100,000 or more.

Given the average SMSF is these days holding close to $1 million in assets, portfolio allocations tend to be in the 5-15% range.

We encourage clients to see investment diamonds as a minimum 3-5 year investment, as this timeframe will give them the best chance of partaking in the upside the market has to offer.

Selling diamonds is also very straightforward, and typically takes 3 months at a maximum, about the same time it takes to sell real estate. ADP’s brokerage service upon completed sale totals 5%.

Finally, from a compliance and reporting perspective, diamonds owned inside a SMSF are required to be ‘securely stored’, and insurance and regular valuations are .

Companies like ADP provide a solution covering all these requirements, including independent valuations on an annual basis, fixed-rate storage for $272 pa as well as facilitation of insurance through our vaulting partners for an approximate fee of just 0.20%-0.36% p.a. of the diamond portfolio value.

Source: Page 6, Equity Magazine 

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18 Apr 2018

3-Carat Fancy Intense Blue Diamond Fetches a record breaking US$5.3 Million

A 3.09-carat rectangular-cut fancy intense blue diamond sold for more than US$5.3 million, setting a world record price per carat for an intense blue diamond. The gem, which was set on a platinum ring flanked by tapered baguette-cut diamonds, sold for well above its high estimate of US$3 million.

It was the top lot at Christie’s New York Magnificent Jewels sale held Tuesday. The auction of 211 lots achieved more than US$45.6 million, with 88% sold by lot and 96% by value. The sale was highlighted by fancy colored diamonds, colorless diamonds and signed jewels by JAR, Van Cleef & Arpels and Cartier.

The other top lots are as follows:

A ring set with an 8.42-carat cut-corner rectangular modified brilliant-cut fancy intense pink diamond, flanked by tapered baguette-cut diamonds, mounted in platinum and rose gold. It sold for just over US$5 million, within estimates.

A crossover ring set with a 2.85-carat pear modified brilliant-cut fancy intense pink diamond, and a 2.42-carat pear brilliant-cut fancy vivid blue diamond, further adorned with baguette-cut diamond shoulders and circular-cut diamond gallery set in platinum. It sold for more than US$4.5 million, within estimates.

A crossover ring set with a 2.10-carat pear brilliant-cut fancy vivid blue diamond, and a 1.98-carat pear brilliant-cut colorless diamond flanked by a tapered baguette-cut diamond and mounted in platinum. It sold for nearly US$3.5 million, within estimates.

A diamond thread ring by JAR set with a 22.76-carat elongated oval brilliant-cut diamond within a diamond-set, two-tiered thread-work gallery and hoop, mounted in platinum. It sold for more than US$2.7 million, within estimates.

A ring set with a 33.46-carat rectangular-cut diamond, flanked by tapered baguette-cut diamonds mounted in platinum. It sold for nearly US$2.3 million, beating its high estimate of US$1.8 million.

A ring set with a 2.81-carat modified square brilliant-cut fancy intense blue diamond with pavé diamond shoulders mounted in platinum. It sold for US$2.1 million, besting its US$1.5 million high estimate.

A large transformable emerald and diamond necklace by Van Cleef & Arpels centered with a 24.32-carat detachable oval-cut emerald that can be worn as a brooch, within a two-tier surround of circular and marquise-cut diamonds. The remainder of the necklace is set with a series of seven graduated rectangular-cut emeralds within two-tier circular-cut diamond surrounds, joined by oval or circular-cut emerald, pear and marquise-cut diamond links, mounted in platinum and 18k gold. The necklace can be separated and worn as a bracelet. It sold for US$1.5 million, above its $1.25 million high estimate.

A 12.19-carat round brilliant-cut diamond that sold for US$1.4 million, within estimates.

A sapphire and diamond necklace by Cartier centered with a 58-carat cushion-cut sapphire, suspended beneath a 28.51-carat cushion-cut sapphire joined by 4.13-carat a modified square-cut diamond. A circular, two-row platinum and 18k white gold neckchain is accented by square-cut diamonds.

Source: Forbes

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22 Mar 2018

Historic Blue Diamond with royal pedigree up for auction

This spring, the Farnese Blue, a diamond with an incredible historic pedigree, will be offered by Sotheby’s—marking the first time the gem has ever been brought to auction.

Originally given to Queen of Spain Elisabeth Farnese by the Philippines to celebrate her marriage to King Philip in 1714, the gem was later owned by a descendant of France’s last queen, Marie Antoinette. Over the next 300 years, it was furtively passed down through four European royal families. The 6.16-carat, pear-shaped dark gray-blue diamond was hidden in a casket as it traveled through Spain, France, Italy, and Austria.

“With its incredible pedigree, the Farnese Blue ranks among the most important historic diamonds in the world,” said Dr. Philipp Herzog von Württemberg, chairman of Sotheby’s Europe and managing director of Germany, in a statement from the auction house. “From the first minute I saw the stone, I could not resist its magic, and as such, it is a huge privilege to have been entrusted with this sale.”

Like the Hope Diamond, this gem is thought to have come from India’s Golconda mines. This region was the go-to source for exceptional colored diamonds up until the 1720s, when mining shifted to Brazil.

“It is difficult to put into words the excitement of holding between thumb and forefinger a gem discovered centuries ago, knowing it originated in the legendary Golconda diamond mines of India,” said David Bennett, chairman of Sotheby’s international jewelry division and cochair of Sotheby’s Switzerland. “This stone has witnessed 300 years of European history and in color is reminiscent of historic Golconda blue gems such as the Hope Diamond.”

The legendary diamond will be offered at Sotheby’s Magnificent Jewels and Noble Jewels sale in Geneva on May 15. Its estimated value is between US$3.7 million and US$5.3 million.

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01 Mar 2018

Rio Tinto Releases 2017 Annual Report, slashes outlook for Argyle Mine

Rio Tinto’s 2017 annual report released today includes significant changes in estimates of Ore Reserves and Mineral Resources at Rio Tinto’s Argyle Diamond mine in East Kimberley, Western Australia.

Rio Tinto has lowered its estimate of diamonds it can viably extract from the Argyle mine, after experiencing operational difficulties and reducing its price forecast.

The asset’s ore reserves slumped 45% to 16 million tonnes at the end of 2017 versus a year earlier, the company said in a statement. That translates to 38.5 million recoverable carats, at a grade of 2.4 carats per tonne of ore. Reserves are the economically extractable material present in a mine, and are distinct from resources, which refer to all deposits.

The decrease includes almost 5 million tonnes of ore that Rio Tinto depleted during the year at the mine in Australia. It comprises a further 3 million tonnes due to reduced production outlook resulting from operational challenges in 2017, it said.

Rio Tinto also cut its price expectation for the mine for 2020 and 2021, resulting in a higher “economic shut-point” — the minimum volume it must produce per quarter for operations to be worthwhile. This, combined with adjustments to its estimates of future mining grades, shaved just over 5 million tonnes off its reserves.

The available reserves will enable Argyle operations to continue until 2020. The company could increase the estimate and extend the life span beyond that, depending on how the mine performs, it added.

However, the miner said other mineralised deposits at Argyle do not demonstrate economic prospects and are not scheduled for production. As such, Argyle Mineral Resources, exclusive of Ore Reserves, decreased from 15 million tons to zero.

The Argyle diamond mine is expected to produce 3 million carats less of diamonds this year than it did in 2017 – Image copyright 2018 Rio Tinto

Rio Tinto is the industry’s third largest producer by volume, yet only has interests in two producing diamond mines, its 100%-owned Argyle mine in Australia and a 60% stake in the Diavik mine in Canada.

By volume, 76% of the company’s net production is estimated to come from Argyle – the largest mine in the world in terms of carat volume produced. The majority of the mine’s production is low quality in terms of size and colour, and the mine’s economics are driven by the occurrence of fancy pink diamonds that fetch a significant premium to white and most other fancy coloured stones. In 2018, Argyle’s production is expected to decrease by 3 million carats year-on-year to 14 million carats.

Argyle production commenced in 1983 and, at one point, produced as much as 40 million carats annually, making it arguably the industry’s most important mine. However, as a result of normal depletion, annual production has dropped to 14-17 million carats in recent years.

In 2016, Rio took a $241 million impairment charge on Argyle after reassessing mine-life expansion economics and has now cut the mine’s recoverable diamond reserve estimate to 39 million carats, thus reducing the remaining mine life to less than three years.

Sources: Rapaport, Rio Tinto, Mining Journal, Paul Ziminsky
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07 Dec 2017

Graff Blue Diamond Ring Fetches $13M

A ring featuring two fancy vivid blue diamonds by Graff Diamonds smashed its pre-sale estimate at Christie’s Magnificent Jewels sale on Wednesday, as blue diamonds continued to dominate the New York auction scene.

The pear-shaped, modified-brilliant-cut diamonds, weighing 3.36 carats and 2.71 carats with VVS2- and VS1-clarity, respectively, sold for $12.6 million, well above their estimate of $6.5 million to $8.5 million, Christie’s said. Both stones have the potential to be re-cut to be internally flawless, the auctioneer added.

At the same sale, a cut-cornered, square step-cut, 38.91-carat, D-color, VS1-clarity diamond went for $3.6 million, or $93,613 per carat, beating its high estimate of $3.5 million.

A brilliant-cut, 23.26-carat, E-color, VVS2-clarity diamond fetched $2.4 million, translating to $101,139 per carat. It had drawn an estimate of up to $1.5 million.

Total proceeds at the auction came to $62.6 million. The sale followed a Sotheby’s auction in New York on Tuesday, in which the top item, a 5.69-carat fancy vivid blue diamond ring, found a buyer at $15.1 million, beating its $15 million upper estimate.

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06 Dec 2017

Blue Diamond Sells for $15M at Sotheby’s New York

Sotheby’s sold US$54 million worth of jewellery at its New York auction on Tuesday as several pieces containing rare blue diamonds and gemstones yielded higher-than-expected prices.

An anonymous buyer spent $15.1 million, or $2.7 million per carat, on an emerald-cut, 5.69-carat, fancy vivid blue, VVS1-clarity diamond ring, beating its upper estimate of $15 million, the auctioneer said. Meanwhile, a pear-shaped, 2.05-carat, fancy intense blue, internally flawless diamond ring fetched $2.7 million, or $1.3 million per carat, in a sale to a member of the trade — well above its high estimate of $1.5 million.

Sapphire jewelry also attracted strong prices. A Van Cleef & Arpels bracelet containing 193.73 carats of the blue stones went to a private collector for $3.1 million, having drawn an estimate of up to $1.5 million. A sapphire-and-diamond necklace-bracelet combination by Harry Winston — with seven emerald-cut sapphires weighing a combined 123.13 carats — fetched $1.9 million, beating the expected price of up to $1.5 million.

“The market continues to show its strength in colored stones, with today’s results driven by intense competition for important colored diamonds, sapphires and emeralds in particular,” Sotheby’s jewelry-division chair Gary Schuler said.

A 110.92-carat, L-color, VS1-clarity diamond — the largest round diamond in auction history — appeared on Sotheby’s list of unsold lots. The company did not immediately respond to a request for comment outside of New York working hours.

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29 Nov 2017

The Pink Promise, A Rare 14.93ct Pink Diamond Has Sold For over A$42 Million

The November 28th Christie’s Magnificent Jewels Hong Kong auction saw some pretty impressive results for fancy colored diamonds and for rubies, but the real headliner was the hammer price realized for an incredibly rare 14.93-carat Fancy Vivid VVS1 pink diamond. The diamond, described by Christie’s as the “Picasso of the Pink Diamond world,” sold for an incredible $31,861,000 – approximately $2.13 million per carat.

The diamond, referred to as The Pink Promise Diamond is a stunning pink oval stone with mixed cuts. Its Fancy Vivid Pink colour (as opposed to Fancy Intense Pink) is a designation given by the Gemological Institute of America (GIA) and represents the most prized colour grading in pink diamond history. The oval stone was set in a platinum ring and surrounded by diamonds. It was estimated that the ring would sell for between $28 million and $42 million.

The Fancy Vivid pink diamond was originally purchased by gemologist and jeweller Stephen Silver, who is known for his keen eye for gemstones. When he bought the stone (for an undisclosed sum) in 2013, it was originally a 16.21-carat Fancy Intense pink. However, Silver believed that the stone could achieve a higher colour rating if it were cut differently to allow more light through it. Silver turned to a master gem-cutter and together they spent several years planning how to cut the rare Type IIa pink diamond.

Diamonds are categorised into two main types: I and II, depending on the nitrogen present it the structure. Type II diamonds are divided further into a or b, meaning they contain very little nitrogen, with IIa being the purest.

Cutting the 16.21-carat stone was risky because if they could not achieve a higher colour rating, they were basically tossing away millions of dollars in lost carat weight.


The risk paid off. The stone was re-certified by the GIA after its cutting from 16.21 carats to 14.93 carats. It went from Fancy Intense Pink to the much rarer Fancy Vivid Pink rating. Additionally the Type IIa pink diamond achieved VVS1 clarity – the grade just beneath “flawless.” The higher grades in colour and clarity boosted the value of the diamond exponentially.

According to the GIA, only one in every 1,000 diamonds mined can be classified as Fancy colour diamonds. This stone is Fancy Vivid – the highest possible colour mark, and it is a large size, which is very rare for pink diamonds.

The remarkable remake of the diamond that Stephen Silver promised he could make brighter and more intense, yielded it the name, The Pink Promise. This was one in a string of important coloured diamond journeys for Silver. He has worked with, or re-imagined a host of important diamonds including a Fancy Vivid orange diamond known as “The Million Dollar Pumpkin” and he acquired the Cullinan Blue Diamond Necklace in 1992, which he subsequently donated to the Smithsonian National Museum of Natural History in 2010.

This diamond sale fell just short of a world record per carat price for pink diamonds. In the December 2009 sale at Christie’s in Hong Kong, a Vivid Pink, a cushion-shaped fancy vivid pink 5-carat diamond sold for $2,155,332 per carat, and set a per-carat record price.

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23 Oct 2017

The Famed Donnersmarck Diamonds Could Fetch $14 Million At Sotheby’s Geneva

The Donnersmarck Diamonds, a pair of fancy intense yellow diamonds with aristocratic provenance is being offered as part of Sotheby’s Geneva auction of Magnificent Jewels and Noble Jewels November 15 at the Mandarin Oriental, Geneva.

The diamonds, formerly in the collection of the von Donnersmarck family, consist of a 102.54-carat cushion-shaped diamond and an 82.47-carat pear-shaped diamond. They are being offered as a single lot with a pre-sale estimate of $9 – $14 million.

Sotheby’s said these diamonds are attached to one of the great love stories of the 19th Century.

“These stunning diamonds carry with them a fascinating story, full of romance and determination over adversity, which could have inspired some of the greatest novels and operas, from Manon Lescaut to La Traviata,” said David Bennett, worldwide chairman of Sotheby’s International Jewellery Division.


The Donnersmarck Diamonds, a pair of fancy intense yellow diamonds with aristocratic provenance

The Donnersmarck Diamonds were part of the collection of La Païva, Countess Henckel von Donnersmarck (1819-1884), arguably the most famous of the 19th-century French courtesans, Sotheby’s said.

Born Esther Lachman, the Russian native of modest means arrived in Paris at the age of 18 and was introduced to the city’s cultural and artistic circles. She gained the friendship of many artists, including Richard Wagner, Hans von Bülow, Théophile Gautier and Emile de Girardin.

In the late 1840s, she met the Portuguese Marquis Albino Francisco de Araújo de Païva. They were married in 1851 but the marriage lasted only one day.

Now known as La Païva, It was around this time she met her future husband, German nobleman, Count Guido Henckel von Donnersmarck (1830-1916), one of Europe’s richest men. Their relationship was the talk of Paris high society and in 1871, the two were married.

Among the jewels von Donnersmarck gave to La Païva during the course of their marriage was the two yellow diamonds now known as the Donnersmarck Diamonds.

Following La Païva’s death in 1884, the count, who became prince in 1901, retained ownership of the diamonds. They remained in the Donnersmarck family for more than a century until they appeared at auction at Sotheby’s in 2007 where they sold for approximately $7.9 million. They will appear again in November after having been in a private collection for the past 10 years.

The Donnersmarck Diamonds come to the market at the same time that Sotheby’s is celebrating its 10th anniversary in sales dedicated to “noble jewels,” storied jewels of great provenance.

“Ten years ago, they were the star of the show when we launched our very first sale dedicated to Noble Jewels here in Geneva,” Bennett said. “I am delighted to mark a decade of success by presenting these exceptional diamonds once again. Jewels of royal and aristocratic provenance carry with them a special sense of history and these are no exception.”

In the same sale, Sotheby’s is offering “The Raj Pink,” the world’s largest known fancy intense pink diamond, weighing 37.30 carats with an estimate of $20 – $30 million.

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