TORONTO, Nov. 16, 2017 /PRNewswire/ - On November 28, at Christie's in Hong Kong, the Pink Promise diamond, a 14.93-carat fancy vivid VVS1 pink diamond set in a diamond-studded ring, will be up for auction. Christie's estimates that the Pink Promise will fetch $42 million USD.
Paragon International Wealth Management, a leader in the acquisition and management of fancy colored diamonds, noted that the valuation for the Pink Promise was in line with recent pricing trends in the colored diamond market, with new records being set for colored diamond auctions over the past several years.
The Pink Promise has a clarity grade of VVS1, which falls just below completely flawless (FL) and internally flawless (IF). "The rarity of pink diamond makes it so valuable," said Fung Chiang, of Christie's jewelry department. The Pink Promise is a type IIa diamond, which is the most chemically pure type of diamonds, with exceptional optical transparency.
Paragon International Wealth Management stated that pink diamonds represent a small percentage of the total diamond production every year and that researchers still do not have a precise explanation for how pink diamonds acquire their coloring. Paragon International Wealth Management added that the pricing trend for pink diamonds shows steady growth over the last decade.
Paragon International Wealth Management also noted that the expected price for the Pink Promise followed the trend set earlier this year by the Pink Star, a 59.60-carat fancy vivid pink diamond that was purchased for $71.2 million at a Sotheby's Hong Kong auction by Hong Kong-based jewelry retailer Chow Tai Fook.
ABOUT PARAGON INTERNATIONAL WEALTH MANAGEMENT
Paragon International Wealth Management, based in Toronto, is a leader in the investment and management of fancy colored diamonds. The firm's stated mission is to provide clients outstanding advice and guidance in building successful hard asset investment portfolios. Over the last decade and a half, fancy colored diamonds have gained popularity as an investment vehicle and have exhibited higher profit margins over time than other hard assets.
SOURCE Paragon International Wealth Management Inc.