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The Roving Eye

Los Angeles Business Journal, Oct 23, 2000 by Anita Talbert

DIAMONDS are forever, as the saying goes, but right now, it's the pink diamonds that are all the rage.

They've knocked white diamonds off their pedestal.

But being in the pink doesn't come cheap. Whereas a colorless diamond will set you back $4,000 to $6,000 per carat, pinks range from $10,000 to $400,000 a carat, depending on size and intensity.

The increasing popularity of these naturally colored diamonds arises from the opening of the Argyle Mines in Australia, responsible for nearly all the world's pink diamonds.

Alan Friedman, a Beverly Hills-based jeweler, referred to as King of the Pink, recently tossed a celebration of pink diamonds with $30 million worth of inventory.

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Friedman says colored diamonds have been appreciated by connoisseurs for decades but are now becoming trendy. The pinks range in varying shades from "fancy pink" to "fancy intense" and "vivid."

Korosh Soltani, president and CEO of David Orgell on Rodeo Drive, describes the vivid pink as so pink it appears to be coming out of the stone. Other diamond merchants on Rodeo Drive agree that colored diamonds have soared in popularity, with pink emerging as the new prima donna.

Dawn Moore, West Coast sales director for Harry Winston, says they are very collectible for people who have a connoisseur s eye and taste.

Sisters Diane Allen and Mary Kelley, owners of The 23rd Street Jewelers in Santa Monica, carry lots of pink diamonds.

"We are extremely excited by the pinks, colored stones are one of nature's wonders -- and you won't see the oinks at most stores." Allen said.

Business Services Industry

The Roving Eye

Los Angeles Business Journal, Oct 23, 2000 by Anita Talbert

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