Diamonds really are forever as this $28,800 ring shows its worth



2015-06-26 12:25:51

Diamonds really are forever as this $28,800 ring shows its worth

Canadian jewellery house Waddington's has proved the market for precious stones is still going strong

Diamonds are often seen as the height of luxury, and with their increasing rarity, they are one type of item guaranteed to go up in value.

This was certainly the case on Tuesday, June 7, when Canada's specialist jewellery auction house Waddington's sold a large collection of bracelets, rings, necklaces and rings, almost all of them above their estimates.

 This dazzling platinum ring took the limelight at Waddington's

The highlight of the sale was a French platinum ring, which eventually went for $28,800. With two emerald cut diamonds and two triangle diamonds, it is not surprising this superb item sold for so much.

The ring was matched in value by a Platinum Filigree strap bracelet, which was originally set to sell for $15,000-20,000. With 319 diamonds and 26 emeralds, it is clear to see why it smashed its estimate and sold for $28,800.

Other items which sold well include a pair of 18k white gold drop earrings sold for $11,400 - almost double their original guide price - and a pair of platinum earrings, which again beat the estimate. They sold for $10,800, rather than $2,400.

The allure of jewellery is what makes it such a sure winner at auction, meaning it will stave off problems which damage other markets.

With foreign investors looking for more areas to get involved in, there is a very strong demand for diamonds in Asian countries.

China's growing economy and financial clout means interest in alternative investments is increasing, as is the need for items like jewellery.

 More than 300 diamonds make up this stunning $28,800 bracelet

This will lead to a larger market where demand outstrips supply. This means, for the canny collector, it is best to buy now, as the price for rare necklaces, rings, bracelets and so on will go up.

Waddington's auction strongly supported this, as even the lower-end jewellery, like brooches and cufflinks, sold for nearly double their estimated values.

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