Study finds diamonds are forever
|Jun 9th, 2011 | Filed under: Commodities, Today's Post | By: Alpha Male||
Each year in the storied town of St. Moritz, Switzerland, some of the world’s wealthiest jewelry collectors converge on the stately Kulm Hotel for the annual Sotheby’s winter jewelry sale. Unlike a Boxing Day or Black Friday sale, however, this sale lacks any door crasher specials, all-night line-ups and inevitable stampedes when the doors open (we assume – although none of us have actually been there).
Buyers at this auction, and at Christie’s equivalent in St. Moritz, are looking for some serious bling. But they’re also cognizant of the investment value of their purchases – particularly when it comes to diamonds. Like gold, diamonds are easy to transport stores of hard value (just as Ernst Blofeld, the diabolical genius in the movie Diamonds are Forever, who tries to build a deadly satellite-based laser using smuggled diamonds).
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