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    Start with a Diamond
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    Apr 14

    Almost everyone has a special piece of diamond jewelry they treasure, regardless of its monetary value. It could be your diamond engagement ring or a pair of diamond earrings that once belonged to your grandmother. You probably can’t imagine parting with them for all the world, unless of course they were valued in the millions.

    It might sound like an astronomical figure, but the prices being paid today for some of the world’s rarest and most sought after diamonds is in the millions. Top gems still capture fetching prices on the market, and there are plenty of investors and celebrities that are willing to pay exorbitant amount to own them.

    The World’s most Costly Diamonds: Red, White and Blue

    hope_diamond.jpgBlue diamonds are among the rarest and most sought after diamonds in the world. Almost everyone has heard of the 45.52 carat steel blue Hope Diamond. You may even have seen it on display at the Smithsonian Natural History Museum in Washington, DC.

    The Hope Diamond was cut from a 112 carat rough diamond found in India. Blue diamonds tend to sell at a price approximately ten times that of white diamonds due to their scarcity and beauty. Recently, a new record was set when a 6.04 carat flawless blue diamond sold for $7.98 million at a Hong Kong auction. The sale reflected a value of approximately $1.32 million per carat.

    If that’s not impressive enough, consider a 101.27 carat white diamond found in South Africa that is scheduled for auction in Hong Kong in May. This is the largest white diamond to be auctioned in more than 20 years. Diamond experts believe it will sell for more than $6 million. In 1990, a 101.84 carat diamond sold for $12.7 million.

    Rarest of all diamonds are red, and experts estimate there are only 50 in the entire world. Of that 50, the whereabouts of only about half of these rare diamonds are known.

    untitled-96.jpgIn 2007, an Australian jeweler purchased a 1.74 carat red diamond known as the Queen of Diamonds for almost $5 million dollars. Another famous colored diamond that has sold for millions is the Agra. The Agra is not red, but fancy light pink. This 32.34 carat diamond sold for nearly $7 million in 1990.

    Novelist Danielle Steel‘s Jewels at Auction

    Many collectors and investors prefer to purchase diamonds already fashioned into fine jewelry, and especially items worn or owned by celebrities. Does a celebrity diamond jewelry auction sound like your idea of a shopping spree? You won’t want to miss Christie’s April 16th auction of several of novelist Danielle Steel’s exquisite jewels.

    Danielle Steel’s estimated worth is now somewhere in the range of $600 to $800 million, and her love of fine jewelry is well known. The 14 lots of the Danielle Steel collection being auctioned at Christie’s will include some very unique diamond pieces by several of the world’s top jewelers.

    What sort of jewelry is Danielle Steel parting with? A stunning owl brooch crafted of diamond and black coral by Van Cleef & Arpels is estimated to sell for between $15,000 and $25,000. A pair of Jean Schlumberger, Tiffany & Co., “Trumpet Flower” ear clips featuring diamonds and sapphires will undoubtedly be a popular item. A diamond and emerald bead necklace and Patek Philippe and Franck Muller watches are other exceptional Danielle Steel jewelry items that will be available April 16th at Christie’s.

    Compared to price tags in the millions, the Danielle Steel collection offers a much more affordable option for diamond lovers as no six-figure price-range items will be included. Danielle is undoubtedly holding on to her most precious jewels, but the diamond jewelry that is being auctioned is impressive.

    Christie’s jewel sales are renowned for making diamond jewelry owned by celebrities available to the public. In 2007, 12 items owned by Lucille Ball were auctioned off, including several rare and unique diamond jewelry pieces. In 2006, Ellen Barkin sold 103 lots of jewels for over $20 million at Christie’s.

    The True Value of Diamonds

    It’s difficult for most people to imagine spending tens or hundreds of thousands of dollars on diamonds, let alone millions. Yet diamonds are an investment, and especially those owned by the rich and famous. Admired for their beauty and treasured for the scarcity, diamonds aren’t likely to ever lose their appeal or value any more than their beauty. For some, those owned and made famous by celebrities hold even more value than their actual monetary worth.
    Like almost everything else, ultimately the value of a diamond or diamond jewelry will be in the eye of the beholder. Jewelry owned by Lucille Ball may mean nothing to you, especially when compared to your engagement ring. Although your Grandmother’s diamond earrings may not be as impressive as Danielle Steel’s jewels, they may well be priceless to you in terms of personal value.

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