Ramble On Ron

Diamonds, Music and other Facets of Life

Gold and Platinum, Big Blue Diamond – Watch These Kids Play Phish

Posted on | December 12, 2008 | No Comments

It’s been a while since I posted, but that’s a good thing because we are busy selling (and buying) diamonds. Now is the time.  We have a lot of items on sale, and we are making some great jewelry buys from customers coming in to our store, and from all over the country.  We are also writing posts on our company blog about social media and other cool stuff so check it out.

Today, platinum closed at almost the same level as gold. For a while it was trading BELOW gold. Platinum has dropped 64% from a record in March, while gold has dropped 21%. Platinum closed $1.60 an ounce above gold in New York, the smallest spread since at least 1996. Actually, it is used more in cars than in jewelry, which is why it’s down so much.

“When platinum trades at the same value or lower than gold, it is screaming recession,” said Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois. “It’s another confirmation that we’re in a deflationary recession, where everything goes down. Who’s going to buy cars in a recession?”

Doesn’t hurt me, but it’s gotta hurt those “luxury” jewelry lines who charge an arm and a leg (even to the jeweler) for their stuff. For the consumer, it’s a good thing.

In the diamond world, check out this big blue diamond that Lawrence Graff just bought at the last Christie’s sale – diamonds are still strong.

The 35.56-carat blue Wittelsbach diamond, which sold for $24.3 million at Christie's London auction, has 300 years of royal connections.

The 35.56-carat blue Wittelsbach diamond, which sold for $24.3 million at Christie

Here is the article from National Jewelers Network:

“London: A 35.56-carat blue diamond broke through the financial gloom on Wednesday, setting a new world record price for a diamond sold at auction.

The deep grayish-blue gem, known as the Wittelsbach Diamond, sold for $24.3 million at Christie’s “Jewels: The London Sale,” topping the previous record of $16.5 million set by the sale of a 100-carat diamond in Geneva in 1995.

International jeweler Laurence Graff, of Graff Diamonds, snapped up the gem, outbidding Aleks Paul of Essex Global Trading, a professional of Russian origin based in New York.

The sale also sets a new world record price for any jewel sold at auction.

Francois Curiel, chairman of Christie’s Europe and auctioneer for the sale, said, “In the midst of these challenging times, we were thrilled to achieve a historic price for a historic diamond.”

Officially known as “Der Blaue Wittelsbacher,” the roots of this stone can be traced back to the 17th century.

In 1664, King Philip IV of Spain (1605-1665) included the diamond as part of the dowry of his daughter, Infanta Margarita Teresa (1651-1673), when she became engaged to Leopold I of Austria (1640-1705), a man who later became the Holy Roman Emperor.

The diamond subsequently became part of the Austrian and then the Bavarian crown jewels.

It has been part of a private collection since 1964; Wednesday marked its first offering to the international market in nearly 80 years.”

So buy diamonds! You will be ok, it’s the best investment out there. Contact me to invest in diamonds.

And check out these KIDS who play “You Enjoy Myself” by Phish. They are in MIDDLE SCHOOL – WOW!!