A stunningly beautiful yellow diamond has sold at auction for almost £7 million.
The sun-drop diamond is the largest known yellow diamond in the world and is a whopping 110.3 carats according to the Washington Post.
The stone in question has been rated as being of the highest colour rating possible for a yellow diamond. It’s the eighth most expensive diamond ever sold at auction. It was found in South Africa last year by Cora International.
Diamonds always fetch prices at auction that make the average person’s eyes water, this is because like gold, they are sourced from the ground and not created. Diamonds take millions of years to reach a state where they can be dug out from the ground.
Yellow diamonds occur naturally when a few of the carbon atoms that make up a clear diamond are replaced by nitrogen atoms. Yellow diamonds were previously seen as inferior to their clear cousins because of this, the nitrogen atoms and the resulting yellow colour were both seen as a sign of impurity in the diamond.
Yellow diamonds are however incredibly rare, far rarer than even traditional diamonds – especially in their most intense yellow form. This in itself makes the stone immensely valuable and highly sought after by those in the know.
Diamonds, whether yellow or not, other precious stones and precious metals are a great way of preserving wealth. The recent financial troubles have meant that previously stable currencies like the US dollar and the Euro have become much riskier for investments. Investors have therefore turned to ‘safe’ investments like gold and diamonds which has subsequently increased their value.
You might not have access to rare diamonds but you can still benefit from the increasing popularity of gold, diamonds and other precious stones like rubies, emeralds and sapphires. Prices for these have shot up considerably in the last eighteen months due to the aforementioned financial troubles. While buying might be more expensive, selling your old, unwanted jewellery however is more profitable.
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