Diamonds are considered to be the default symbol for wealth, interpersonal commitment, rarity, scarcity, purity, brilliance and, most of all, perfect material thing to mark special moments such as wedding proposal. In fact, emotional sentiments, which are tightly tied to diamonds, are responsible for high demand. Otherwise, diamonds are just shimmering stones that go through various hands before reaching the consumer. Journey of a diamond begins from a place where a miner searches for raw pieces of stones. The raw material is passed through traders to skilled diamond cutters and polishers before reaching jewelry showrooms. Every hand adds additional cost to procure profit, hence an overall price. Historically, diamonds were used to transport wealth from one place to another as it’s easier to hide them.
There is no dearth of gem auctions that come up with really expensive pieces. For example, 12.03-carat Blue Moon diamond is scheduled to go on the block at Sotheby’s in Geneva. The expected pre-sale estimate is about $56 million. With it, the diamond will become the most expensive gem ever auctioned. However, presently, following gems hold record for the most expensive diamonds:
The 9.75-carat Zoe Diamond is among the record holders for being the expensive diamond. Blue was sold at Sotheby’s in November 2014 for over $32 million.
Having sold for more than $83 million, the 59.60-carat Pink Star should be the current world record holder. But the bidder, diamond cutter Isaac Wolf, defaulted, making Sotheby’s to buy in back. So, for now, the 2.0 carat Graff Pink retains the title at an auctioned prize of $46 million in 2010.