World Is Counting Down " The Vivid Pink" Auction Event

Post by : NGDlover

World is counting down an auction event set by Christie's in Hong Kong on Dec. 1, 2009. A rare, 5-carat pink diamond called ‘The Vivid Pink’ with estimated price to sell for $5 to $7 million U.S. It will become a world auction record for a pink diamond stone after such auction in Geneva that sold for $7.4 million in 1994.

The stone is set in a "cushion-cut" ring by famous jewellers Graff Diamonds. Graff also known for handling some of the world's most phenomenon gems such as The Begum Blue, The Golden Star and The Star of Lesotho.

While the vast majority of natural pink diamonds exhibit a colour modifier like purple, orange or grey, ‘The Vivid Pink’ really shows an absolut "no secondary colour" so that its extremely rare. Qualify this beautiful pink diamond for the coveted Fancy Vivid colour grading from the GIA. As we know, just only 1 in 100,000 diamonds possesses a colour deep enough to qualify as ‘Fancy’ underscores its rarity.

Why choose Asia ? Asia come up as next super high-end luxury goods market in the world, as this region received a boost from economic crisis. Two major auctions Christie’s and Sotheby’s say that in the last few years Hong Kong has emerged as a top location for sales of expensive jewelry, gems and fine wines. Asian Market also become powerful buyers of ultraluxury goods at their auctions in London, New York and Geneva. As an example, Christie’s clear 101-carat Shizuka diamond has sold in Hong Kong in May 2008 . Both that sale and that upcoming auction event showing the great examples to show how very important this market according to head of jewelry of Christie’s Asia, Vickie Sek.

Another factor that support Asian market to be the next powerful market is rising populations and improving government health and retirement safety which reduce the need for families to save.besides, household spending level in developing Asian nations is grown up as their economic continued growth. On the other hand, many region of the world’s economies are struggling to return to growth after the financial crisis. the United States, are weighed down by debt and can not expected to be much more cautious about opening their wallets. Both Russia and the Middle East are taking a hit from lower oil prices. NGDlover archives