|In 2007 a South Florida man purchased a $2 million pink diamond ring for his wife. Now, the unique 10.07-carat pink diamond will be sold in a worldwide auction at Christie's for an expected $8 to $12 million.|
Despite the global financial recession, the value of their colored diamond increased more than 400 percent in the past nine years. Most of the world's pink diamonds come from the Argyle mine in Western Australia, whose supply is expected to run out by 2020. High demand from wealthy individuals and savvy investors around the world is driving the steep increase in values. Christie's will be featuring the pink diamond at its April 20 jewelry auction in New York.
Pink diamonds have increased an estimated 20 percent annually for the past five years.