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Why diamonds may be an investor’s best friend

Why diamonds may be an investor’s best friend

Leonard Joel jewellery specialist Hamish Sharma hopes to make auction history with a 25.02-carat diamond up for auction on Monday.

The 25.02-carat diamond was emerald-cut from a 47.961-carat rough mined in Canada’s far northern tundra.  

Gabriella CoslovichSaleroom writer

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The world’s most celebrated diamonds come with a name and a story, the more glamorous the better. Think of the 69.42-carat, pear-shaped dazzler that Welsh actor Richard Burton gave his film star wife Elizabeth Taylor in 1969. Now known as the Taylor-Burton diamond, it was the first diamond to reach $US1 million at auction. Burton was the underbidder and, furious at missing out, he rang the winning bidder, Cartier, and offered $1.1 million. The diamond changed hands in less than 48 hours and was worn on Taylor’s finger until she had the huge rock reset in a far more wearable necklace.

Elizabeth Taylor wearing her 69.42-carat dazzler at the 42nd Annual Academy Awards in Hollywood in 1970.  Ron Galella/Getty Images

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Gabriella Coslovich
Gabriella CoslovichSaleroom writerGabriella Coslovich is an arts journalist with more than 20 years’ experience, including 15 at The Age, where she was a senior arts writer. Her book, Whiteley on Trial, on Australia’s most audacious of alleged art fraud, won a Walkley in 2018.

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Original URL: https://www.afr.com/life-and-luxury/fashion-and-style/why-diamonds-may-be-an-investor-s-best-friend-20210412-p57ifk