Liz Taylor’s cognac (brown) diamond to make a record
The late Elizabeth Taylor, who died at the age of 79 in March 2011, will give one last performance, as her collection of extraordinary diamonds and rare jewels will take center stage on December 13, 2011 at the Christies New auction. York. Elizabeth Taylor was known for her love of diamond jewelry; One of his most beloved pieces is an elegant 32.14 carat (lot 20) dark brownish-orange yellow VSI diamond ring that auctioneers hope to achieve a world record.
“I love wearing gems, but not because they are mine. You cannot possess a radiance, you can only admire it.” -Elizabeth Taylor
The Elizabeth Taylor exhibition will be held on December 13, 2011 at Christie’s auction house in Manhattan for ten days from December 13-16. Thousands of people have already purchased tickets to the iconic event. Visitors and bidders hope to see and potentially own Ms. Taylor’s iconic jewelry pieces, such as the 33.19-carat “Elizabeth Taylor Diamond” gifted to her by her ex-husband and Hollywood actor Richard Burton. It is estimated to sell between 2.5 million and 3.5 million. Other Champagne and Cognac (brown variations) diamond jewelry featured in the auction, aside from the 32.14 Cognac diamond ring, includes a pair of Champagne diamond earrings estimated at $ 100,000-150,000.
There will also be an online auction taking place at the same time as the live auction to give online buyers the opportunity to bid on more than 1,000 items, including jewelry and accessories such as Taylor’s designer handbags. The auctioneers estimate that the sale will total $ 50 million. Elizabeth Taylor was a humanitarian and in honor of her dedication to the fight against AIDS, Christies will donate a portion of all proceeds from the sale of tickets and publications related to the event to The Elizabeth Taylor AIDS Foundation (ETAF).
Champagne, Cognac diamonds (Brown variations) Gain ground
Brown diamonds have gained a lot of attention in recent years as they have gone from a zero to five billion dollar industry in five short years. Rio Tinto is a mining company that owns the largest brown diamond producing mine in the world. The Argyle mine produces around $ 150 million in variations of rough brown diamonds, typically Champagne (light brown) diamonds. Currently, the greatest demand for champagne, cognac, and chocolate diamonds comes from the U.S. However, many industry experts agree that as these beautiful golden honey gems gain prominence, especially in India, it is industry likely to expand.
Robert L. May, Executive Director of the Natural Fancy Colored Diamonds Association, says that “all retailers should take advantage of the growing popularity and demand for natural fancy colored diamonds.” “Now is the time to step into the realm of this fast-growing category.”
The same may be true for rare diamond investors, as brown diamond variations are currently one of the last categories of colored diamonds that are still priced below colorless (white) diamonds. But as demand increases and supply decreases, it may not be for long.
It is no secret that more money can be made by ‘buying low and selling high’, as opposed to ‘buying high and selling high’. In other words, the key is to buy a strong, strong asset that is in demand just before everyone else. it is doing. Warren Buffet said: “Be greedy when people are afraid and be afraid when people are greedy.” If everyone understood the Champagne diamond opportunity, they probably wouldn’t be such an exciting investment. The reason Champagne diamonds are a good investment right now is because they are currently affordable, but they won’t be for long.