VOL. 27, #2, Summer 2009

New AGL Prestige Report, Burma Ban Update, Notable Quotes, Auction Reports, Gemstone Heists, In The News

  Jun 24, 2009   admin


New AGL Prestige Report
by Robert G. Genis

In 1977, Cap Beesley of American Gemological Laboratories (AGL) became the first laboratory in the world to evaluate and classify colored stones in a linear, comparative manner. In 2009, new AGL President, Chris Smith, modified the grading system with the introduction of a new grading report, The Prestige Gemstone Report. Some every important changes have been made to the document. We will write more extensively about this in future issues.

The grading system which they devised is comprehensive and requires some study to achieve a workable understanding of the process. However, once you grasp the basic principles, you will wonder how anyone could buy a gemstone without using this kind of vocabulary. The following "walk through" of a 7.550 Ceylon sapphire grading report will help you understand the various components of the new AGL laboratory report.  Click here to download the sample report (PDF, 1662Kb).

The upper left depicts a color digital image of the stone. This image assists in verifying the gemstone matches the grading report. Please note the image is for representational purposes and is not necessarily the actual color or size.

Accu-Vu Imaging
The Accu-Vu is the facet arrangement and relevant measurements of the actual stone. AGL uses a Sarin device to obtain a three-dimensional recreation of the actual stone.

Document Number
The upper left shows the document number. The lab assigns individual, consecutive numbers for each grading report issued.

Validation Date
This is the date the gemstone report was completed.

Mineral Type

This describes the mineral type and variety of the gemstone. In the sample, the gemstone is a natural corundum sapphire.

Color Description
This signifies the color of the mineral. In the sample, the color is blue.

A word that describes the transparency of the gemstone.

Carat Weight

Colored stones are weighed with an extremely accurate scale. In the sample, the sapphire weighs 7.550 carats. The measurement of the gemstone is in millimeters.

The shape of the gemstone or cushion in the sample.

Cutting Style
Mixed in the sample. This is very common.


This is where you will find the country of origin of the material. In the sample, the gem is Classic Ceylon (Sri Lanka). Next to this information is a world map with the country of origin highlighted.

Here is the full laboratory comment regarding the country of origin.

This section allows for standard and additional enhancement information. The document allows for the type of treatment and the degree of treatment. If not treated, this section should say none. Of course, none is the preferred comment. The graph on the bottom left shows the degree of clarity enhancement and its relative rarity. Finally, the gemstone report has a graph showing the stability index of a treatment. This is vital information for consumers attempting to make an informed decision.

Color Grade
Since there are so many optical/physical principles involved in the reflection and re-reflection of light through a gemstone, any particular gem can exhibit a wide range of colors. The color grade is based upon the purity of primary color. For example, the greener the emerald, the redder the ruby, or the bluer the sapphire, the lower the numerical grade on an AGL scale. The reason the 7.55 sapphire is a 4.5 in this sample is the fact the stone has 65% blue as its primary color. The less primary color, the higher the numerical color grade. The more the primary color, the lower the color grade. It is that simple.

With the AGL Prestige Report, we are seeing changes in the AGL colored grading system. The bottom line is the top grades are being pushed upwards. For example, in the old system, a 70% primary color or 3.5 color would probably be the best color grade you would receive. The AGL is now giving grading reports with 80% primary color. Also, in the past grading system, the top of the line 1.00 and 2.00 color grades were impossible to obtain. These grades were a theoretical standard. The new AGL grading system now allows for for 1.00 and 2.00 color grades.

Below this information is a graphical representation of the 1-10 color grading scale.

In the sample above the sapphire's tone is 75. Basically, tone describes the lightness or darkness of a gemstone. Color considered alone without taking into account the tone will lead to errors in interpretation. If a stone is too light in tone, the color will not be rich enough. Conversely, if a stone is too dark, it will sacrifice transparency and brilliancy.

Below this information is a graphical representation of the 0-100 tone grading scale.

Clarity is defined as the degree to which the stone is free of inclusions. In the sample the clarity is LI2. Here is a good rule of thumb to remember: You will probably not see inclusions in a Lightly Included (LI) gem, you may see some inclusions in a Moderately Included (MI) gem, and you will probably see inclusions in a Heavily Included (HI) gem. Excessively Included (E) gems have durability problems and should be avoided.

Below this information is a graphical representation of the clarity grading scale.

The cutting of a gemstone numerically describes the overall appearance of a gem. The finish grade refers to the polish of a gem. In the sample the cutting is 3-4 (Very Good-Good) and the finish is 5-6 (Good). Unlike diamonds which are cut according to strict mathematical parameters, most high end colored gemstones are rarer and are often cut for weight retention.

Below this information is a graphical representation of the 1-10 cutting grading scale.

The depth of the gemstone.

Average Brilliancy
Brilliancy is the amount of flash the gem returns to your eyes. Most round diamonds are 100% brilliant. Brilliancy in the sample is 80%. That means 80% of the stone returns flash to your eyes.

Total Quality Integration Rating
This comment integrates the total visual impact of the gem into a verbal description. The TQIR combines all of the attributes of a particular stone into a simple term(s). This includes material, size, provenance, color, tone, clarity, cutting, treatments, etc. that influence the overall quality, rarity and value of the gem described.

This document provides the most information of any other colored gemstone laboratory in the world. This information is vital for the collector, investor, or jewelry buyer who is attempting to make an informed decision. Other labs might simply tell you if the stone is treated and where it comes from. They don't tell you if the stone is good or bad. Only the AGL gives you information regarding color/tone, clarity, brilliancy, finish and cutting. It is fine to trade in older AGL Colored Stone Grading Reports. You might want to use these new grading reports with new gemstones or to replace old reports that need updated. Simply be aware the two reports don't translate exactly.

Burma Ban Update
by Robert Genis

As our readers know, the embargo on the import of Burmese rubies and jadeite to the United States went into effect in September 2008. This was the result of Tom Lantos Block Burmese JADE (Junta's Anti-Democratic Efforts) Act of 2008. It was signed into law by President Bush to cut off funds to Burma's military junta. These rulers have been condemned by the U.S. government for human rights abuses, including violent crackdowns against peaceful dissenters.

US Dealer Action
The International Colored Gemstone Association, American Gem Trade Association (AGTA), Canadian Jewellers Association, World Jewellery Confederation, Hong Kong Jewelry Manufacturers' Association, Indian Diamond and Colorstone Association, New York Gem Dealers Association and the Thai Gem and Jewelry Traders Association have united to urge Congress to consider lifting the U.S. ban on rubies and jade imported from Burma. They recently sent a letter to Secretary of State Hillary Clinton. She acknowledges sanctions are not working.

The gem organizations argue the embargo will not achieve it's goals. Rather than reduce the income of the military government, the crackdown has hurt poor people in Burma, many of whom are not only miners but leaders in resisting the junta. The gem trade organizations estimate that tens of thousands of Burmese small-scale miners in rural areas of the country, where rubies have been a key part of the economy, have been impacted by the sanctions. An unintended consequence of the law is jewelry manufacturers in Hong Kong, India, Sri Lanka, and Thailand, where the rubies were cut and made into jewelry have been negatively impacted. Also, most of the jadeite that is sold through state-controlled auctions in Burma goes to the Chinese, not American markets. Therefore, it really doesn't affect the leaders at all. The bottom line is such sanctions rarely impact those at the top, and instead only punish the people at the bottom.

Europe Split
Since 1966, European sanctions included a travel ban and the freezing of assets of Burma's leaders and their relatives, as well as a ban on arms exports to the country. Further, European Union (E.U.) sanctions were put in place in 2006 to protest the junta's crackdown on pro-democracy groups. The E.U. added more economic sanctions in 2007, including a ban on imports of gemstones from Burma. The sanctions have had little effect on the behavior of Burma's military, which has held power since 1962. European Union nations are divided over whether to increase sanctions against the Burma regime and will await the outcome of the current trial of democracy leader Aung San Suu Kyi. Recently, E.U. foreign ministers considered possible ways to ramp up sanctions. Britain and most member states are in favor of increasing sanctions, but others like Germany and Austria are against the sanctions. Of course, France is against sanctions because they will hurt Total, the French energy giant. Total, France's largest and most profitable company, has been a major investor in Burma's gas fields since 1992.

One of the reasons Burmese authorities have been able to ignore the sanctions is that China, the country's biggest trading partner, has refused to become involved. "Burma's issue should be decided by the people of Burma," Ma Zhaoxu, spokesman for the Chinese Foreign Ministry, said recently. "As a neighbor of Burma, we hope that relevant parties in Burma can realize reconciliation, stability and development through dialogue." Interestingly, most of the new Burma gemstone production is going to China instead of the US or Europe.

Burma rubies and other Burmese gemstones account for about 20% of the raw materials used by the Thai jewelry industry. The Burma ban and the recession has lead to a 40% decline in gem exports from Thailand to the US in 2009. The decline in business and the Burma ban have caused over 100,000 people to lose their their jobs. The hardest hit are in Mae Sot and other border towns where Burma goods enter Thailand.

The Bottom Line
Obviously, this is a very complicated issue. The recent arrest of Aung San Suu Kyi causes a visceral reaction to do something to the leaders of Burma. Wouldn't it make us feel better to punish the Burmese leaders? However, we question if the Burma ban on gemstones is the right medicine. Opponents of the ban mock the effectiveness of sanctions. For example, the embargo on Cuba has been in effect for 47 years and counting without a regime change. Some argue the Burma ban is not consistent with the World Trade Organization's provisions on the origin of products. Since Burmese gemstones often undergo substantial transformation in Thailand, they argue such gems should be regarded as Thai products. Laws often have unintended consequences. Small Burmese gem-traders are now selling gemstones to their government, because there are no American or European buyers. This would seldom happen before the ban. The junta is now profiteering from the Ruby ban! Hillary Clinton has promised a thorough review of the US policies towards Burma.

Notable Quotes

"Today, if you had to go find a 5-carat vivid blue or a 5-carat vivid pink, you couldn't buy it for less than $1 million per carat."
Rahul Kadakia, head of jewelry at Christie's, New York
May 13,2009

"I believe in the 3G's-guns, gold and gems. You can never have enough."
An Anonymous Client
June 5, 2009

"Diamonds, jewels and cars have been outperforming other areas of the auction market as art collectors hesitate about purchases as prices decline in the economic slowdown."
May 12, 2009


Auction Reports

Sotheby's Geneva


A rare, flawless, vivid blue diamond that weighs 7.03 carats was sold on 12th May for a record $9.49 million. This blue diamond now becomes the highest paid per carat gemstone at any auction, at $1,349,752 per carat. At the end of the auction, the buyer was making his bids using the telephone after a hectic session of bidding between two, at the time, unknown callers that lasted for a full and exciting 15 minutes.

According to David Bennett, chairman of Sotheby's Europe & the Middle East, "It is fantastic in this market and shows that these rare things are very much in demand." The blue diamond was cut from a 26.58 carat rough stone discovered in 2008 at its Cullinan diamond mine in South Africa. The Gemological Institute of America (GIA) graded the 7.03 carat stone as fancy vivid blue and internally flawless. This blue diamond beat out the previous most expensive fancy vivid blue diamond of 6.04 carats, which was sold by Sotheby's for almost $8 million in Hong Kong in October 2007. The third most expensive fancy vivid blue diamond, also sold was a 3.7 carat pear diamond, which sold, also by Sotheby's, for almost $5 million in Geneva one year ago.

Joseph Lau Luen-Hung is the buyer of the cushion-shaped 7.03 vivid blue diamond. Lau is a renowned Hong Kong collector and connoisseur. Lau is a real estate investor who owns a 71 percent stake in Chinese Estates Holdings, and is ranked as Hong Kong's fifth richest person by Forbes Magazine, with a net worth of around $4 billion. Lau has named the stone "Star of Josephine."

Christie's NY
A 6.29 carat pear shaped, fancy intense, internally flawless blue diamond sold for $3,554,500, continuing the trend of very rare, high-value items selling well in this market. Buyers bought because they love rare colored diamonds and gemstones and as a secure store of wealth to weather the economic hailstorm. A 3.28 carat modified rectangular-cut, fancy dark gray-blue diamond sold for $386,500. The auction sold 91% by lot and 86% by value in a small 184 lots. The auction tallied up over $11 million. Buying was international, with bidders coming from Bahrain, Hong Kong, Saudi Arabia, Taipei, the U.S. and Europe.

Christie's London
In June, a small auction was recently held in London by Christie's. The top lot was a 44.14 carat circular-cut, fancy yellow, SI1 diamond set in an art deco mounting, which fetched $865,324, or $19,600 per carat.

Gemstone Heists

Arrest of 2 'Pink Panthers' May Shed Light on Heists
New York Times
By Doreen Carvajal
May 15, 2009



The wanted posters for Zoran Kostic offer clashing images of a fugitive who investigators believe may hold the key to cracking a network of globe-hopping jewel thieves with a taste for chunky diamonds and Patek Philippe Swiss watches. His Interpol poster lists his eye color as black - or green. And Mr. Kostic's photos veer from the dark, brooding looks of a Heathcliff with tousled hair to the grim visage of a newly shorn truck driver. A German reward poster, offering 5,000 euros, or $6,800, shows a softer side: a man who might be a prosperous banker in suit and tie, peering intently through a window of a luxury jewelry store, Wempe. That man in the window had managed to outwit and elude the authorities since early 2003, until the international hunt finally led to the two-star Hotel Utrillo, a short walk from the Moulin Rouge in Paris, where this week the French police arrested Mr. Kostic, 39, and Nikola Ivanovic, 36, with their Swiss watches. It was a moment for investigators to savor; many had gathered for an unusual two-day conference in Monaco in March to share information about the group, which they called the Pink Panthers, with representatives from 16 countries, including the United States, Japan and the United Arab Emirates.

They pored over information about a shifting collection of about 200 men from Montenegro and Serbia, most with military or athletic backgrounds, who carried out reconnaissance missions by methodically looking for "soft targets." The authorities say they believe that the Pink Panthers have snatched jewels worth more than $130 million in swift attacks that extend from Dubai to Geneva, Tokyo, Paris and Monaco. Their nickname was invented by British investigators when one suspect there hid a $657,000 blue diamond in a jar of cream, a tactic lifted from one of the "Pink Panther" films starring Peter Sellers. But when thieves struck on May 5 in Switzerland at L'Émeraude, a jewelry store in Lausanne, police investigators were able to raise a rapid alarm, passing on warnings to French authorities with a hunch that the robbers might run toward France. Stéphane Volper, an inspector with the judicial police in Lausanne, said a bold approach had become the signature of Pink Panther thieves, who operated with impunity because they were accustomed to staging robberies and then heading back to Serbia undetected, using counterfeit passports. In 2007, for instance, thieves struck the Ciribelli shop in Monte Carlo, a robbery in which Mr. Kostic is a suspect. To this day, investigators remain baffled by the choice of getaway car. "They escaped in a yellow Fiat," said Olivier Jude, inspector commander at the Monaco Police Department. "Now that was unusual. Then they abandoned the car and left inside their fingerprints." For all their detective work across borders, the police know little about Mr. Kostic, who was born in the south of Montenegro in Cetinje, a city of about 18,000 people. But they consider him a "big fish" because, they say, he has figured in more than 20 high-profile robberies and may ultimately provide information about the methods of the Pink Panthers. So far, according to the French police, Mr. Kostic and his accomplice, Mr. Ivanovic, are not saying much. But they have admitted to the recent robbery in Lausanne, said Hélène Dupif, the commissioner of the organized-crime police unit in Paris. Ms. Dupif said she considered the members of the Pink Panthers extremely violent. "These are men who are really strong, who come in with handguns and order people to the ground and scream at them in a language they don't understand," she said. "They terrorize people, and some victims have been seeing therapists for a long time because of them." Almost 40 men tied to the network have been arrested on theft charges in several countries, including Japan, where well-dressed robbers tear-gassed employees in a jewelry store. Within three minutes they had vanished with a sack of diamonds and the Comtesse de Vendôme, a 125-carat necklace of 116 diamonds. Soon after the Pink Panther police meeting in Monaco, one of the suspects in the Japanese case, Rifat Hadziahmetovic, was arrested on March 18 in Cyprus by the local police, who discovered that he was also wanted by Interpol. In February, the authorities arrested two Serbs, according to Ms. Dupif. So when the Swiss authorities called after the heist in Lausanne, French investigators used information from the earlier arrests to monitor areas where Mr. Kostic and Mr. Ivanovic might turn up. The hunch proved true; they were spotted in the rather unluxurious Pigalle neighborhood of Paris, notorious for its sex shops and red-light district. When they found them, according to Ms. Dupif, they still had two Patek Philippe watches from the Lausanne robbery. She noted that lately the Panthers had been shifting from diamonds to watches, which may be easier to resell. So far investigators have not been able to determine what happened to all the stolen diamonds. But officials are not certain whether the network was responsible for the most highly publicized robbery in recent months. In early December, the Pink Panthers fell under suspicion when four men - three disguised as women with long tresses, sunglasses and winter scarves - struck the fabled Harry Winston jewelry store on Avenue Montaigne in Paris. In less than 15 minutes they were gone, carrying sacks of diamonds. But the Panthers are known for even greater speed - their robberies usually take less than three minutes - leading some investigators to question whether they were responsible for the holdup. Initially, the police counted up the plunder at more than $80 million. Since then Harry Winston has started collecting insurance payments, but it has lowered the value of the cost of the diamonds to $32 million, revealing in its annual report that it will receive about $20 million as an insurance settlement. Today its Paris store has become even more exclusive. Now the store is open only for private appointments with customers. On a street corner facing the door stands a "watcher" in a suit, a communications cord dangling from his ear to relay information to employees inside.

Thief Robs High Class Paris Jewelry Store In Broad Daylight
June 2, 2009

Staff of a well respected and exclusive jewelry store in Paris never suspected the well dressed customer was a thief. If you have any intention of stealing from an exclusive and high class jewelry store, in broad daylight, you need to make everyone believe you are merely one of the customers. That is what a man in his 50's did on a sunny Saturday afternoon in Paris. Dressed in Borsaline (fedora ) hat and fashionable suit, a 'customer' thrust a gun at Chopard's staff and told them to hand him around 15 of their top pieces of jewelry. The type that are borrowed and put on show by stars at the Oscars and Cannes film festival. In less than two minutes the thief loaded up around $8 million dollars worth of gems, before casually strolling out of the exclusive Chopard, on Place Vendome. The up-market area is only a stone's throw from the well known Champs-Elysées avenue. Dressed in drag, four French and Eastern European armed robbers hit the Harry Winston store, on Avenue Montiange, just off Champs Elysees in central Paris, in broad daylight in December 2008. The store is less than 330 feet from a police station. It was believed the thieves called some of the employees by name. In 20 minutes, the thieves gathered $80 million dollars worth of jewelry, before withdrawing discretely. ABC News was told by Christophe Gesset, representative of 'Synergie Officier' police union, "This type of robbery takes a certain audacity, some nerve, a lot of calm and self-control". A year earlier the same store was robbed of over $12 million dollars worth of jewelry. The thieves were never caught and the diamonds never recovered. The world record for diamond heists is held by the diamond heist of 2005, when a truck carrying approximately $118 million dollars (unconfirmed) of diamonds was hijacked from the cargo terminal at Schiphol Airport, Amsterdam. The truck was stolen in full view of a crowd of onlookers.

It all sounds more Hollywood style and James Bondish, rather than actual real life. Some experts are saying that daring and creative jewel robberies have become a lost art. The European tourist capital was very proud of its record that its police were unarmed during the day. This order has been changed. The police will now be armed both day and night.

In The News

How to Preserve Wealth By Investing In Colored Diamonds
Investing in Colored Diamonds
NuWire Investing
May 22, 2009
by Nigel Schwartz

Recent turmoil in the global financial markets has convinced countless investors to explore alternative assets, and smart investors are no longer solely focused on ways to maximize their capital gains. They are all seeking tried-and-true strategies for preserving wealth, and a great many have chosen to invest in natural colored diamonds.

In times like these, investors would be wise to consider alternative assets that provide a reliable store of value. A meaningful capital preservation strategy is the path of the responsible investor during these chaotic times. With this in mind, there has never been a better time to consider investing in rare colored diamonds. Let's explore a few of the characteristics that make natural colored diamonds such an attractive store of value.

Diamonds have an extremely high value in contrast with their diminutive size and weight. A two carat intense fancy yellow diamond is worth approximately $25K, and weighs less than 1/70 of an ounce. If the need ever arose, millions of dollars worth of diamonds could be concealed and transported on one's person. For hundreds of years, diamonds have been used as a medium to discreetly transport wealth across troubled borders. As a wise man once said, wealth knows no borders.

Natural colored diamonds also have a rock solid history of steady price appreciation, which is a very appealing characteristic for the keen investor. Just recently, the Wittelsbach blue diamond sold for $24.3 million at Christie's in London, setting a record price for any diamond or jewel sold at auction. An oval-shaped, vivid yellow diamond weighing 36.99 carats, sold at Sotheby's New York in December 2008 for $71,870 per carat.

Lastly, demand for fancy colored diamonds has skyrocketed in recent years. This is partially due to consumer awareness regarding the natural rarity of colored diamonds, for out of 10,000 carats of diamonds mined only one carat will turn out fancy colored; with the rarest colored diamonds being red, blue, green orange and pink. The reality is that supplies of colored diamonds are decreasing while demand is increasing, resulting in a great opportunity for investors as prices continue to increase.

The Moussaieff Red Diamond
Thaindian News
May 14, 2009

Of all the Fancy reds rated by the Gemological Institute of America, the Moussaieff red diamond is the largest, "It is the largest Fancy Red, natural color diamond that we have graded as of the date the report was issued." It currently stands at 5.11 carats with a triangular brilliant cut. The red diamond was first found by a Brazilian farmer in the 1990s and it weighed roughly 13.9 carats. The William Goldberg Diamond Corporation, known for its famous stones like the Premier Rose and the Guinea Star, bought and cut this diamond. The triangular brilliant cut was also called a trillion or a trilliant cut and for some time the diamond was called the Red Shield.

In 2001 or 2002 (the exact date is not known) Moussaeiff Jewellers Ltd. purchased the diamond and renamed it the Moussaeiff Diamond. The firm has no websites but is famous for its multi-million dollar pieces of gems and jewelry in the US and elsewhere. The diamond then traveled to the Smithsonian Museum where it was an exhibit in 2003 in The Splendor of Diamonds. The exhibition went on from June 27, 2003 to September 30th and featured, besides the Moussaieff Red, other unusually colored diamonds such as the De Beers Millennium Star, the Heart of Eternity, the Pumpkin Diamond, the Allnatt Diamond, the Ocean Dream, and the Steinmetz Pink.

A British gemologist, Michael Hing, who had personally inspected the stone said, "Its a really surprising cranberry color, quite unlike any other diamond I've ever seen."

Diamonds are forever
Radio Bulgaria
June 19, 2009
by Tanya Harizanova

For the first time in this country the start is given to an official and regulated diamond market. First Investment Bank offers investment diamonds, which differ from those used in jewelry for their purity and high quality. That is why their price is much higher. We cannot compare to the Antwerp diamond market or to the diamond processing factories in Amsterdam, but these precious stones are supplied to Bulgaria's market through an Australian company, which is a shareholder of the Antwerp stock exchange. The trade in diamonds is an index for a high financial culture, experts claim. Bulgaria shows an interest in non-standard yet classical investments, such as precious metals and investment diamonds. But who can afford them? Valentina Grigorova, head of the Gold and Numismatics department of FIB takes the question of Radio Bulgaria's reporter.

"The interesting fact with diamonds is that they can be accessible also for people of the middle social category and not only by the well-off, Valentina Grigorova explains. The price depends on four basic parameters: diamond carat, purity, color and grinding – the quality of the cut. A characteristic feature of investment diamonds is that they are always of a round cut, also known as diamond cut, with no other specific forms. It is important to know that even the difference in color may lead to a difference of price amounting to several thousands of euros. When the other parameters are considered too, the price can differ from 10 thousand to several tens of thousands of euros, depending on the carat."

Due to the crisis the interest in different types of investments and ways of preserving one's funds is increasing. Does that mean that money would thus be saved and that diamonds would keep their price?

"Money would definitely be saved that way because there are two important factors, Grigorova further explains. The price of investment diamonds has for centuries been moving only upwards. At the moment tendencies, too are upward, just like in the case of investment gold, by the way. The second important factor is that diamonds are after all the most concentrated form of preserving one's wealth."

A miniature crystal not bigger than a pea or a grain of rice can preserve in itself 10-15 thousand euros or even more. According to experts the investing in diamonds has no rival. In the past Richard Burton gave Elizabeth Taylor a diamond worth 15 000 USD. Several years later she sold the 33-carat diamond, which was as large as a small walnut, for 5 million USD. Is a diamond fever getting over wealthy Bulgarians, considering that the number of deals is constantly growing? The most interesting order is that made by a father who bought diamonds for his two daughters at the price of EUR 100000.

"We can definitely say it is a hit now. We have many calls, talks with potential clients; several deals are almost finalized, Valentina Grigorova goes on to say. Bulgarians are indeed successfully entering the world tendency of investing in diamonds. We know of several millionaires possessing not individual diamonds but entire portfolios and collections, showing special interest in color diamonds. I would give the following advice - don't opt for the most expensive pieces because their liquidity is slower due to the fact that such diamonds are traded at auctions. Better choose diamonds of 1-2 or 3 carats, which are easily bought off and would bring your money back sooner. Besides they imply a faster growth of price so you would have a more interesting profit."

Marilyn Monroe had said that "Diamonds are a girl's best friend!" Nowadays, in times of a global crisis they are pretty much in vogue and they have become the best investment for the rich. Even more so because they are a portable asset in extreme situations, which not only preserves its value but increases it from one year to the next.