|In 2007 a South Florida man purchased a $2 million pink diamond ring for his wife. The unique 10.07-carat pink diamond sold last year for $8,845,000 at Christie's.|
The value of their colored diamond increased more than 400 percent in the past nine years. Most of the world's pink diamonds come from the Argyle mine in Western Australia, whose supply is dwindling. High demand from wealthy individuals and savvy investors around the world is driving the steep increase in values.
Pink diamonds have increased an estimated 20 percent annually for the past five years.
|Fancy colored diamonds continue to fetch high auction prices as buyer interest remains strong. Exceptional pieces of colored diamond jewelry were among the highlights at Christie's Hong Kong Magnificent Jewels Sale.|
The top lot of the sale was a ring with blue and pink diamonds from Moussaieff. The ring has a 3.98-carat fancy blue vivid diamond in the center with a surround of 14 pink diamonds. It made $8.9m