


In February, a 555.55-carat black diamond fetched $4.28 million and set a record for the largest diamond ever auctioned. “Against a backdrop of anticipated hyperinflation and unstable geopolitics, we are now witnessing an oft-seen tendency for the uber wealthy to turn towards hard assets for investment,” Tobias Kormind, managing director of Europe's largest online jeweler 77 Diamonds, told Forbes in a statement. Two of the world’s leading diamond companies, De Beers and Alrosa, finished last year with higher sale numbers than 2019, before the pandemic, a trend industry experts expect to continue into 2022. Diamond prices are rising after the industry experienced a drop in demand amid the onset of the coronavirus pandemic in 2020.
