PNIK has some astounding underlying assets On December 5, 2016, PNIK entered into an Asset Purchase Agreement (the Purchase Agreement) with Cornerstone United Capital, LLC (Cornerstone) for colored diamonds with a wholesale value of $105,000,000 (the Assets).
While small Diamonds used in Jewelry under 5 carats have not fared well, the larger more rare stones have been producing record numbers at auction.
The ‘Cullinan Dream’ Blue Diamond Hammered for $25.4-M
The successful auction price makes it the most expensive fancy intense Blue Diamond ever sold at auction.
A 24.18-carat intense blue known as The Cullinan Dream has just sold for $25.4-M at Christie’s Magnificent Jewels auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.
The Diamond, cut from a 122.52-carat stome found at Petra Diamond’s (L:PDL) Cullinan mine in South Africa in Y 2014, is the largest of 4 Blue Diamonds made from the original rough stone.
“Oppenheimer Blue” Diamond Hammered for $57.5-M at Christie’s
A 14.6-carat blue diamond auctioned at Christie’s in Geneva for $57.5-M, including fees, becoming the most expensive diamond ever auctioned.
Blue Diamonds are the rarest and most sought-after color. And the Oppenheimer Blue was owned by Philip Oppenheimer, the late Chairman of the De Beers diamond-marketing cartel.
Only 10% of all blue diamonds discovered are larger than 1 carat, making the Oppenheimer Blue a highly prized creation of nature. It also has the highest color rating of “vivid.”
The 12.03-carat “Blue Moon Diamond,” sold by Sotheby’s (NYSE:BID) in November for $48.5-M, previously held the title of the priciest diamond sold at auction.
Bruce Cleaver, CEO, De Beers Group has said
Two years ago, we started to open up the diamond industry to a wider audience by publishing the first in a series of annual reports highlighting the trends shaping the sector.
Now, we have just unveiled our latest edition, The Diamond Insight Report 2016, which explores the sector’s performance in 2015 and the factors affecting the decisions we are making today.
The pace of change in the diamond industry is quickening, driven by the world’s Millennials. How they view the diamond sector and their influence on the direction it takes is featured in an in-depth assessment within the report.
The Millennial generation (those born between 1981 and 2000) spent more than US$25 billion on diamond jewellery in 2015 in our four largest consumer markets (US, China, India and Japan), more than any other generation. And they are not expected to reach their most affluent years for another decade.