Why would anyone spend over 83 million dollars on a diamond? History was made at Sotheby's Jewelry Auction last November when a 59.60 – carat, Internally Flawless fancy vivid pink diamond sold for $83,187,381. This breathtaking gem called the Pink Star, was later renamed the Pink Dream by the Wall Street investment group that purchased it. Whether it is 83 million dollars or three thousand dollars, here are a few reasons why I believe people purchase fine gems and jewelry.
Quality gems and jewelry are hard tangible assets. A fine piece of jewelry is a physical store of value. One can hold a precious gem or a precious metal like gold or platinum and understand that they possess an object that has been coveted for thousands of years. Throughout history rare gems and metals have been adored and desired, there is no reason to believe this is going to change anytime soon.
Fine gems and well made jewelry are beautiful. Although beauty can be subjective it is hard to imagine anyone viewing a premier gem like the Pink Dream or the Hope Diamond and not being smitten by their sheer beauty. These diamonds are a perfect marriage of the best nature has to offer with the worlds finest craftmanship. Cutting gems of this magnitude can take months or even years of meticulous planning and precise execution.
Quality jewelry can be handed down for generations and generations. Unlike the latest smart phone or tablet, a beautiful well made piece of jewelry will not become obsolete after a few years. A 100 year old European Cut diamond from your great grandmother is a masterpiece jewel as well as an irreplacable piece of family history. When De Beers famously said "A diamond is forever", they were spot on. Please stop by Spiegel and Son for a timeless piece of jewelry that you, your children, and your children's children will enjoy.