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 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.
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