Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
A rare nine-carat pink diamond ring belonging to philanthropist and heiress, Huguette Clark, sold for $15 million at a Christie’s auction this week.
The diamond, dubbed “the Clark Pink,” set a new auction record for the most valuable pink rock sold in the United States. The buyer was U.S. diamond, gem and jewelry specialist Brett Stettner of Stettner Investment Diamonds, Christie’s said.
Rahul Kadakia, Christie’s Americas’ head of jewelry, told Reuters that the ring was part of a collection sold for $21 million:
“This is the second most valuable private collection sold in the United States in the last decade, just behind the legendary jewels of Elizabeth Taylor.”
Clark, who died last year aged 104, lived a reclusive life after 1930 and her activities were virtually unknown to the public. Upon her death in 2011, she left behind a vast fortune, including the sold jewels, most of which was donated to charity. Substantial sums were also left to her longtime nurse, her goddaughter, some employees and her attorney.
(Photo from Christie’s website)
