Thursday, September 29, 2011

Uncut diamonds from southern Africa and Canada

Uncut diamonds from southern Africa and Canada are seen at De Beers headquarters in London, January 17, 2011. Art used to be known as an "investment of passion"; today for those who can pay, it's a haven with the added benefit of serving as collateral for loans. With credit tight and markets volatile, more of the world's super rich are borrowing against such alternative assets -- including financial professionals. Martin Rapaport, chairman of diamond services company Rapaport Group, says owners of top-quality precious stones have also started to use these as collateral in financial transactions, repeating a trend he saw in the first days of the crisis in 2008. Picture taken January 17, 2011.

No comments:

Post a Comment