Investment Diamond Exchange (IDX) Lists One of the Rarest Pink Diamonds in the World, Valued at $23 Million | Business Wire

SANTA MONICA, Calif.–(BUSINESS WIRE)–Investment Diamond Exchange (IDX) lists an extremely rare 22.17 ct.

Fancy Intense Pink Diamond (see diamond

chart), anticipated to bring in over $23 million at auction. As the

global economy heats up and investors seek out creative ways to make

money, investment

diamonds are becoming more popular than ever. With pink diamonds

increasing at 443% from 2003 to 2010, according to Sotheby’s, investors

are looking to lock in these huge returns for their portfolio.

Pink diamonds are one of nature’s most beautiful rarities. In November

of 2010, the 24.78 carat (see diamond

clarity chart & diamond

size chart) ‘Graff Pink’ diamond sold for $46.2 million, and set the

record for the highest price paid for any diamond sold at auction

(Sotheby’s HK). “We have already received multiple bids at $23 million

and we expect the competition to heat up as we near the end of the

auction in July. The lucky investor will have the rights to name one of

the rarest diamonds in the world,” said Chris Duffield, managing partner

of IDX.

According to Bain & Co., “There is tremendous demand for diamonds coming

from emerging markets like China and India. Diamond jewelry is China’s

fastest-growing discretionary expenditure, with demand for wholesale

diamonds growing at 32% annually since 2005.” With all existing

diamond mines currently operating at peak production, supply is

anticipated to lag behind the exploding demand for the foreseeable


“Any day now, diamonds are scheduled to become a publicly traded asset

in the United States through the launch of a Diamond ETF, making way for

institutional capital to finally flow into this asset class,” Duffield

continued. “It is important to note that gold prices quadrupled from

2004 to 2011, following the release of physically backed gold ETF.” Many

industry experts anticipate a similar pattern to emerge in the price of loose

diamonds for sale following the release of the Diamond ETF.

About Investment Diamond Exchange

Investment Diamond Exchange (IDX) is an internationally recognized diamond

exchange located in Los Angeles, California. For more information,

visit www.investmentdiamondexchange.com.

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