What This $6.6 Million Blue Diamond Reveals About Access and Info
Information is more valuable than we think. It’s the lack, access and quality of information that actually shapes our lives and what we believe is reality. That includes what experts and pundits we elevate, what rhetoric we propagate and what viewpoints we balance. This is one reason I support inclusive media and the distribution of diverse stories. To thrive, we need the option to examine life from multiple angles, various viewpoints and many insights from experts and guides. Sourcing can make or break what we know and what we accomplish.
Take the story of one particular blue diamond ring. In 2006, a local Midwest jeweler estimated this ring’s worth at $150,000.
The 3.47-carat sparkler just sold for $6.663 million at a Sotheby’s auction. It actually exceeded Sotheby’s estimated sale price of $2 to $2.5 million.
Let’s not give the Midwest expert a hard time. Blue diamonds are the rarest—and most expensive—variety of diamonds. Since 2006, when this ring was first appraised, their value has been rising at a higher rate than that of their pink and yellow counterparts.
The atmosphere for blue diamonds has changed so much that the auction of this particular one also set a new sales record for a stone of its grade with a whopping $1.92-million-per-carat price. This ring is a story of timing, access to information, sourcing/access to expertise and the right partnership (with Sotheby’s).
As we shape our media, content and messages, we must keep in mind that change is the only constant. What was true 10 years ago might have shifted dramatically since. Expertise must be updated, too. We can’t keep going to the same voices for the same insight over and over. That leaves us seeking growth and knowledge inside an echo chamber. Expansion of insight sourcing can shift everything. In the case of this ring, it was literally a $6.5 million difference.