The Dancing Sun: A Record-Breaking Diamond from the Arctic Canadian Diamond Company
The Arctic Canadian Diamond Company has recently made headlines with the sale of an extraordinary gem, the Dancing Sun, a 204.36-carat fancy intense yellow diamond. This remarkable gem was sold at Christie’s auction for a staggering $4.95 million.
A North American Record
The Dancing Sun is not just any diamond. It holds the record for being the largest polished diamond ever mined in North America. This gem was cut from a 552.74-carat rough diamond, which was unearthed at the Diavik mine in Canada.
The Buyer: Diacore
The buyer of the Dancing Sun is Diacore, a company with diversified interests in the diamond industry. Diacore is known for purchasing some of the most sought-after, rarest diamonds in the world, including the 203.04 carats De Beers Millennium Star and the magnificent Pink Star – a 59.60 carat flawless fancy vivid pink diamond.
The Dancing Sun: A Closer Look
The Dancing Sun is a cushion modified brilliant-cut diamond with VVS2-clarity. Its intense yellow color and impressive size make it a truly unique and valuable gem. The sale of the Dancing Sun is a significant milestone for the North American diamond mining industry.
Conclusion
The sale of the Dancing Sun is a testament to the quality and value of diamonds mined in North America. As the largest polished diamond ever mined in North America, the Dancing Sun is a symbol of the potential and promise of the North American diamond industry.
Investing in diamonds, particularly fancy colored diamonds like the Dancing Sun, can potentially lead to income growth for a few reasons:
- High Intrinsic Value: Diamonds have a high intrinsic value due to their rarity and the labor-intensive process required to mine and refine them.
- Long-Term Growth Potential: The value of diamonds tends to increase over time, especially for high-quality and rare colored diamonds. For instance, the price of a 1 carat fancy yellow diamond appreciated 193% over a 5-year period and 322% over a 10-year period.
- Diversification: Diamonds can provide diversification benefits to an investment portfolio. They have a low correlation with other asset classes, which can help reduce portfolio risk.
- Tangible Asset: Diamonds are a tangible asset that you can hold in your hand, which some investors prefer over intangible assets like stocks or bonds.
- Inflation Hedge: Diamonds, like other hard assets, can act as a hedge against inflation. As the cost of goods and services increases, the value of diamonds is also likely to rise.
The diamond market is highly illiquid, especially for larger and more expensive diamonds. The value of a diamond is subjective and can vary based on factors such as cut, color, clarity, and carat size.
