Paragon International Wealth Management Anticipates High Market Interest in Giant Pink Diamond Unearthed in Russia

TORONTO, Oct. 10, 2017 /CNW/ - A giant pink diamond of 27.85 carats was recently unearthed by Almazy Anabara, a subsidiary of Russian mining company Alrosa. Paragon International Wealth Management, a leader in the acquisition and management of fancy colored diamonds, anticipates that the rough diamond will attract high interest if it reaches the market.

The pink diamond is of gem quality and is almost free of inclusions. Alrosa stated that the dimensions of the stone were 22.47 mm x 15.69 mm x 10.9 mm. Alrosa discovered the diamond in the Republic of Sakha, in the far northeast of Russia. The stone is more than seven times bigger than the largest pink diamond Alrosa had previously discovered; in the last eight years the company has found only three other pink diamonds that weighed more than two carats.

The diamond could be Alrosa's most expensive if it decides to cut and polish the stone itself; however, the company stated that it is examining its options and could opt to sell the stone as a rough diamond. Paragon International Wealth Management pointed out that the discovery of a pink diamond of such high quality and size was a remarkable find.

In terms of the value of the stone at auction, Paragon International Wealth Management indicated that Alrosa's decision about whether to cut and polish the diamond internally would be a central determinant of the stone's value. If the stone is sold uncut, the pink diamond could be valued slightly lower than the 32.33 carat rough pink diamond sold in 2016 by Petra Diamonds Ltd. for $15 million. "If the company decided to cut it, it would become the most expensive diamond in the entire history of Alrosa," mentions Evgeny Agureev, who is the head of United Selling Organization of Alrosa.

ABOUT PARAGON INTERNATIONAL WEALTH MANAGEMENT INC.

Toronto-based Paragon International Wealth Management is a leader in the acquisition and management of fancy colored diamonds. Paragon International Wealth Management is dedicated to providing its clients unparalleled advice and expertise in assembling a successful hard asset investment portfolio. Over the last decade, fancy colored diamonds have grown in popularity as an investment vehicle and have historically shown higher profit margins than many other hard asset investments.

SOURCE Paragon International Wealth Management Inc.