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Richard Russell continues:
“I list just a few examples to show subscribers that big (huge) money is investing in almost priceless, rare tangibles. These stones are often handed down from generation to generation, and only appear when one generation puts a stone up for auction.
The Elizabeth Taylor diamond, sold at Christie's NYC, Dec., 2011, estimated sale price $2.3 million, it sold for $8.8 million.
A pear-shaped 100 carat white diamond, auctioned at Sotheby's May 1995, estimate $13 million, sold for $16.4 million.
Graff pink 24 carat pink diamond, sold a Sotheby's, estimated at $27 million, sold for $46.1 million, November 2010.
A blue 38 carat diamond auctioned at Christie's, estimate $15 million, sold Dec. 2008 for $34.3 million.
A Bulgari emerald brooch. Estimated at $500,000, sold Dec, 2011 at auction at Christie's, sale price $6.7 million.
A 24 carat pink diamond auctioned at Sotheby's -- estimate $27 million, sold Nov. 2010 for $46.15 million.
NOTE -- many of these rare jewels are one of a kind, and have never been put up for auction before.
The magazine lists over 30 of these fantastic jewels with almost all selling far above estimates.
The fact is that today there are thousands of millionaires around the world and hundreds of billionaires. These people have enormous buying power, and their greatest problem is protecting their fortunes and their purchasing power. Hoarding great jewels is one way to do it. For instance, compare a $60 million rare one-of-a-kind diamond that weighs less than an ounce with $60 million worth of gold. And the diamond is smaller than the smallest joint of your little finger!”
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© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
Eric King
Richard Russell - Massive Money Going Into Tangibles
King World News has been receiving reports of staggering amounts of money moving into tangibles. Today the Godfather of newsletter writers, Richard Russell, was discussing this very subject: “I just went through the latest Rapaport jewelry and diamond magazine, and I was frankly amazed at the record prices paid at auction. Obviously, big money is investing in valuable tangibles. The prices that some of these jewels have gone for are at simply mind-blowing heights.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
February 10, 2012
