TORONTO, March 8, 2017 /PRNewswire/ - Paragon International Wealth Management is reporting increased interest from new investors as fancy colored diamonds continue to rise in value. Widely considered a recession proof asset, fancy colored diamonds have steadily increased in value since the 1970s. In just the last eight years alone, the price of pink diamonds has grown by nearly 180 percent and currently sits at a record high.
The rising value of fancy colored diamonds, paired with soaring demand, is attracting more investors into the hard asset marketplace, a trend that has been noted by Paragon International Wealth Management. In 2016, there were a number of exquisite fancy colored diamonds that sold for record-breaking amounts, including the Unique Pink, an extremely rare 15.38 carat pear-shaped pink diamond, which sold for $31.6 million at auction.
Widespread market demand has been further compounded by the rarity of fancy colored diamonds, especially pink diamonds. The ratio of fancy colored diamonds compared to white diamonds sits at roughly 10,000 to 1. For every 10,000 white diamonds mined, only one natural colored diamond is extracted.
Scarcity is expected to heighten in coming years as The Argyle Mine, which is located in Kimberley, Australia, faces an uncertain future. The Australian mine, which has been one of the most productive diamond mines in the world, is home to the only known significant source of fancy pink diamonds and is responsible for 90 to 95 percent of the global supply.
The mine, which opened in 1983, is slated to close in 2018 due to decreased production over the last decade. The impending closure of the world's foremost fancy pink diamond mine may also factor into increased demand.
Many new investors who have no history in the fancy colored diamond market are now deciding to invest in this portable asset class, giving wealthy collectors more competition as they vie for fancy colored diamonds to add to their collections.
ABOUT PARAGON INTERNATIONAL WEALTH MANAGEMENT INC.
Paragon International Toronto is committed to offering its clients with unparalleled advice and guidance in assembling a successful hard asset investment portfolio. Over the last few years, fancy colored diamonds have shown significantly higher profit margins compared to other hard asset investment vehicles. Our combined experience in the colored diamond market enables clients to achieve the highest possible annual returns on their investments in these markets.
SOURCE Paragon International Wealth Management Inc.