The Business of… Diamonds
Everyone knows they’re a girl’s best friend, but did you know they’re in reality worth much, much less than you pay for them? Kipp gets a sparkle in its eye…
August 10, 2010 4:23 by shafeer
Diamonds are not a smart investment for most of us, therefore. But if you’re mega-rich, you might be able to escape the diamond trap by buying the biggest, rarest gems out there. For example, named among Bloomberg’s list of the world’s most expensive stuff for 2010 is the iconic $16 million Chopard blue diamond ring. Considered the most expensive ring in the world, the Chopard blue diamond ring features a brilliant 9-carat blue diamond set in an 18-carat white gold band, paved with diamonds. This iconic piece sold in 2007 for a reported $16.2 million. A Chopard spokesperson estimates the ring’s value today at an eye-catching $18.5 million. But is that the truth, or more marketing spin? Kipp guesses that’s for the owner to worry about.