Are Diamonds The Best Investment You Can Make?

Prices for colored diamonds are on the rise, and they've proven to be an asset that outperforms the stock market, according to Jill Newman, executive editor at Robb Report. "We've seen diamonds break record prices at auction," she said. "Just in May at auction a $58 million blue diamond sold and of course that's an extreme, that's quite high. But I think ten years ago, many people never knew that diamonds came in blue or pink or green." Newman says the Sciens Coloured Diamond Fund, based in London, has experienced yearly returns of 12%. According to Robb Report, experts are predicting prices will continue to climb. Of course, diamonds are also fun to wear. TheStreet priced some colored diamonds for sale at luxury retailer Asprey's in New York.