Chinese eye investments in diamonds, pearls
Chinese businessmen are considering diamonds and pearls as alternative stores of wealth, thanks to the growing accessibility of high jewellery and the rising investment value of gemstones, a Sotheby’s official told Chinese newspaper Beijing News.
Terry Chu, deputy head of Sotheby’s Asia’s Department of Jewellery, said diamonds are gaining popularity as an investment tool, noting that a diamond’s value is relatively stable compared with precious metals, real estate investment or stocks.
Natural pearls are also favoured by Chinese investors, Chu said. Other new gemstone categories including spinel, alexandrite and garnet are also attracting investor interest.
In recent years, prices for untreated rubies and sapphires have steadily increased at auctions given their rarity, the Sotheby’s official added. The industry believes that about 95 percent of rubies and sapphires in the market have undergone different degrees of treatment, according to Chu. Top-quality pink and blue diamonds are also sought by buyers as prices have surpassed several millions of dollars per carat, she said.