Gas is over$3.00 a gallon, groceries are going up and people don't have the extra funds for luxuries. Apparently this is not exactly the truth. From the GIA (Gemological Institute of America) newsroom and the diamond diva's den.....
AUCTIONS: The top end of the market keeps on rolling. Christie’s reported a stellar April 11 auction in
New York
, where an incredible 92% of the lots sold, representing 96% of estimated value. In all, the 308 lots sold brought over $39 million. Customarily at a major jewelry auction, only 75% to 80% of the lots sell.
All of the top ten lots were diamonds. The costliest stone, a 50.53 ct. D-Internally Flawless pear shape, sold to a private buyer from
Asia
for $4.16 million, or $83,450 per ct. A Middle Eastern buyer bought the second lot, a 50.67 ct. D-VVS2 pear shape, for $2.59 million, or $51,150 per ct. A Fancy Intense yellow pear shape of 42.13 cts. sold for $2 million, or $48,200 per ct., to a European buyer, while a 3.17 ct. Fancy Intense blue rectangular cut went to an Asian buyer for just over $1 million, or $319,500 per ct.
Sotheby’s New York April 25 sale included the 107.46 ct. Fancy yellow Rojtman diamond, which brought $1.9 million, and a 39.14 ct. Fancy Intense yellow diamond, which sold for $1.024 million. One sale surprise was the 65.57 ct. Fancy Dark orange-brown pear-shaped Golden Maharaja diamond, which brought nearly $1.4 million against an estimate of $400,000 to $600,000.
The Sotheby’s sale realized $17.5 million, 76% by lot, 91% by value, demonstrating the strength of the top end of the market.
Ok, who's doing the buying and where's the money coming from folks? This "enquiring" mind wants to know!
Now here's a tidbit from Diamond World...
DIAMOND MONOGRAMS BY LOUIS VUITTON
LOUIS Vuitton, Luxury retailer recently launched a new collection of monograms. These monograms are enriched with natural colored stones and diamonds, hence smaller and precious. The move is reported to have been one way to combat handbag counterfeiting.
They are inspired by flowers, pearls and hearts and use stones of various hues, such as pale green, pink, yellow and pastel colors. The monogram charms can hold up to 12 different designs to be added or taken off as the owner pleases.
