The Bulgari blue diamond ring circa 1965 sold for 5 times estimated value
The Bulgari blue diamond ring circa 1965 sold for 5 times estimated value


How does an item of jewellery go from $2million to $9 million?

Recently we saw the auction of the beautiful blue diamond ring with a presale estimate of $2.2 million sell for $9.5 million.

So my question to all who are purveyors of diamonds have you stopped to ask yourself, what do I do to stimulate the desire, the demand, and the belief in the value of what I sell to the point where they would spend 5 times more?

The example may seem to be extreme, and it could be argued that there is no other stone like this in the market and therefore purely on the basis of its uniqueness it was able to command such a premium.

I believe that the purchaser did not make their decision based on an objective return on investment, but in fact an emotional desire to possess something unique and precious, with the excuse that it’s a great investment.

Few will have $10 million at their disposal, but all of us experience the emotional desire to possess something unique and precious. From an early age young girls notice their mother's and grandmother's hands adorned with diamond rings, it’s almost innate to want to possess these shiny and sparkling objects.

The diamond ring in this context resides in a young woman’s subconscious from an early age. We all see special moments in peoples lives when they give and receive diamonds, and the emotional triggers they elicit.


The blue diamond


In an auditory sense a young women listens to conversations; a cousin, a friend, either who have just acquired a magnificent diamond piece of jewellery. When it comes to diamonds, the conversation revolves around a desire to have something, a comment on how amazing it is or "one day when I get married I am going to have..."

In a touch and feel context she sneaks into her mother’s bedroom and tries on her ring that swims on her finger, looking around to ensure she doesn't get caught. The only one of the 5 senses that haven't been touched is "taste", unless you include wedding cake.

The intangible emotion of love, as a girl becomes a woman needs no explanation. We diamond traders must stop and think... this small shiny bright object is both valuable and represents the ultimate symbol of love. The stories have already been written, it is ingrained in the hearts and minds of so many.

We must never forget the depth, the intensity, and attraction that we can legitimately ignite when we unveil the most beautiful stone in the world... the diamond.