That’s why this rare red diamond is sold for INR 20.6 crore!

The magnificent red diamond ring of 1.05 carats was recently sold at a high price. It set a world record at the famous Christie's auction in Geneva as it was sold at a high price of USD 2.77 million translating to about INR 20 crore.

 That’s why this rare red diamond is sold for INR 20.6 crore!

The price of a rectangular cut diamond ring of 1.05 carats, has established a house with an international price record for each carat of diamonds of a particular color. The stone is laid on a platinum ring and gold surrounded by two heart-shaped diamonds.

Red diamonds are known to be the most expensive diamonds because of their unusual shape. The reason for the color of red diamonds has been the talk of the town for a long time but several geologists have said this about the presence of shiny atoms in the structure of a diamond.

A diamond under tremendous pressure during its formulation changes its atomic structure to a certain color.

A 1.05-carat diamond adorned with bright red VS2 was purchased by Tiara Gems and Jewelery DMCC owned by Indian company Ashish Vijay Jain.

“The jewelry industry is growing rapidly, is becoming more competitive and has to deal with consumer sentiment. In the midst of the COVID-19 epidemic, there will always be an interest in rare stones, an investment opportunity, ”he said.

Christie’s Magnificent Jewels Auction at the Four Season Hotel des Bergues in Geneva featured a selection of historical and contemporary jewelry as well as some of the most famous jewelry stores.