Outlook for magnificent diamonds market robust despite worries over global economy
HONG KONG, September 21, 2015 – The market outlook for top tier diamonds remains robust despite worries over the global economy.
Blue Moon Diamond
The next barometer for the health of the market for the most collectible diamonds in the world will be the auction of a Fancy Vivid Blue — the 12.03 carat Blue Moon Diamond at Sotheby’s in Geneva on November 11.
Top diamond dealers, speaking on the sidelines of the September Hong Kong Jewellery & Gem Fair, said that worries over the Chinese economic slowdown and a recent fall in commodity prices, will have no impact on the market for the most exquisite and rare diamonds.
They said they believed that the Blue Moon would likely be sold at its estimated price of $35-55 million, or higher, because it is seldom that diamonds of such rarity and high quality come to the market.
As a store of value, the world’s most magnificent and collectible diamonds and gemstones have proven to be bulletproof investments in recent years, sometimes achieving world record prices per carat at auction.
“The highest quality diamonds on the planet are seeing healthy demand while the number of ultra rich individuals in the world is on the rise,” said Oded Mansori, managing director of RDH Diamonds, which specialises in extremely rare fancy colour diamonds and D Flawless white diamonds of 10 or more carats.
“Sotheby’s has confidently stated that it believes the Blue Moon is set to become the most expensive blue diamond ever sold at auction. Currently, the highest price paid for any blue diamond sold at auction is $32.6 million for the Zoe Diamond in November 2014.
“Sotheby’s has estimated that the Blue Moon will sell for between $35 million and $55 million, which means that even if the Blue Moon reaches its lowest estimate, it will break a world record. It’s going to be an auction to remember.”
In sharp contrast to the market for top tier gems, the middle and lower segments of the diamond market have been suffering due to high inventories, tight margins of polished over rough, difficulties in securing bank credit, and the lack of a generic global diamonds marketing campaign.