This rare purplish-red diamond was sold at Rs 20 crore

This rare purplish-red diamond was sold at Rs 20 crore

The 1.05-carat diamond was bought by Tiara Gems and Jewellery DMCC owned by a Dubai-based Indian expat Ashish Vijay Jain

Purplish-red diamond ring. Credit: www.christies.com

The world has fawned over diamonds since time immemorial and this November 11, another rare gemstone set a world record at the famous Christie’s auction in Geneva.

The rare purplish-red diamond ring was sold at the auction at $ 2.77 million (20.4 crores) , ANI reported. The rectangular-cut diamond is mounted on a platinum and gold ring nestled between two heart-shaped diamonds. 

The 1.05-carat diamond was bought by Tiara Gems and Jewellery DMCC, owned by a Dubai-based Indian expat Ashish Vijay Jain.

“The jewellery industry is growing rapidly, becoming more competitive and must be sensitive to consumer sentiment. Amidst the Covid-19 pandemic, there will always be interest for rare stores, which are an investment opportunity,” Jain said.

The rarity of the diamond comes from its colour, which is attributed to gliding atoms in the structure of the diamond.