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However, the stronger trend has emerged in the fancy color diamond segment, which has shown far less price volatility than white diamonds throughout the crisis. The Codiam Fund was recently established to invest specifically in high-end polished color diamonds, but more telling was a reported spike in the number of private buyers seeking such stones at the Basel show. “They’d rather have their money invested in a fancy color diamond than with J.P. Morgan,” said Eden Rachminov, owner of Rachminov Diamonds 1891, which specializes in fancy color stones.

Kazanjian Red Diamond Returns to the LA Natural History Museum

The Kazanjian Red diamond will be on display at the Natural History Museum of Los Angeles County through May 29, 2009. The rare diamond was found in South Africa, probably in 1927. During World War II, it was stolen in Arnhem during the Nazi occupation of the Netherlands, and hidden in a salt mine with other looted treasures. When it was recovered it was initially mistaken for a ruby. The diamond has passed through several owners, including Sir Ernest Oppenheimer, but was finally purchased by Los Angeles-based Kazanjian Bros. in 2007. This is the first exhibition of the diamond in the U.S. A sneak peak at the stone was offered at the museum this past October, before the diamond was sent to the Gemological Institute of America (GIA) for examination. The diamond can be viewed seven days a week at the museum, located at 900 Exposition Boulevard, from 9:30 a.m. to 5 p.m.

Diamonds Hold Steady at Sotheby’s New York Auction

Fine signed and decorative jewelry sold well at Sotheby’s New York sale as no matter what happens in the economy strong prices are always realized for these items. The sale tallied up $11,098,638 and was sold 68 percent by lot and 55 percent by value. The top lot of the sale was a diamond necklace, which sold to a European private collector for $698,500. An Asian private collector nabbed the second top lot of the sale — a 13.98-carat GVS2 diamond ring for $482,500, or $34,514 per carat. Although the sale lacked the very special large DIF stones that generally sell at auction there was still movement in diamonds, but mostly in the under 10-carat range. Notably, sapphires, emeralds and

natural pearls did well at this sale. Natural pearls are becoming a hot item at auction as buyers from the Gulf region scoop up these wonders of the sea prized for their rarity.

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