Famous Diamonds and Why They Are Significant

Famous Diamonds and Why They Are Significant

Everyone has heard the incredible, impossible, and sometimes supernatural stories about the most famous diamonds in the world. Versions of these tales usually include royalty, theft, war, extravagant lifestyles and death. But why should the average person care about these diamonds and what kind of impact do they have on the diamond market and society in general? Maybe more relevant, why would a luxury pawnshop in New York’s Diamond District on 47th Street care about famous diamonds?

Some of the best stories come from the largest diamonds in the world. The Hope Diamond is by far the most well-known gemstone in the world, gifted to The Smithsonian Institution by Harry Winston, but other stones have mysterious pasts as well; including the Koh-i-Noor Diamond, which supposedly has a curse that is proclaimed in an ancient Hindu text. There is also The Black Orlv diamond which was supposedly cursed because a monk stole it from a statue of Brahma.

The most famous diamonds, such as The Hope Diamond or Dresden Green, are held in museums and are not traded in the market. However many others are just now being discovered (or rediscovered) and can have a large impact on the diamond trade, usually at auction, whether loose or set in a ring, brooch or necklace setting. Diamonds command some of the highest prices recorded at auction houses, and such auctions are regularly covered by media outlets all over the world.

New York Loan Company has seen a large increase in colored diamonds being brought in as collateral because of the increased media attention over the past decade. These stones are exceptional for not only their significant beauty, but also because diamonds rarely come out of the earth with such hues, clarity and brilliance. The major jewelry companies, such as Cartier, Van Cleef & Arpels, and Tiffany & Co. use these stones for their exceptional one-of-a-kind pieces of jewelry.

Pink diamonds for instance, demand high prices for their striking color, but other factors contribute to their value. The ‘Pink Star’ is a fancy vivid pink diamond, set in a gold ring, weighing a total of 59.60 carats and internally flawless. This incredibly rare stone is highly desirable and fetched an amazing $83 million dollars at auction in November 2013. Another rare diamond, called “The Orange” is the largest fancy vivid orange diamond in the world, and had been kept by an “anonymous owner” for 30 years until it was recently sold by Christies. It has a VS1 clarity and fetched over $35 million dollars, which is $2.4 million dollars per-carat, the highest per-carat price paid for a colored diamond.

New York Loan Company makes loans on all types of gemstones, ranging from small to large, round to square and white to color. The folklore behind many significant diamonds, whether based in truth or not, drive the excitement and thrill of purchasing and owning diamonds, and clients of ‘Pawnshop to the Stars’ are no exception.

If you’d like to make a pawn loan or sell a fancy colored diamond to New York Loan Company, please contact us at 212-997-5626 or email info@newyorkloan.com. New York Loan is located in the International Gem Tower on 47th Street in Manhattan’s Diamond District.