Pink diamond sells for more than US$50M, setting world record

Marco Green
November 14, 2018

The stone once belonged to the Oppenheimer diamond family, and Christie's says it's among the most chemically pure gems, with little if any nitrogen.

And a diamond like the famed Pink Legacy - which is extraordinarily vivid for such a large diamond, weighing in at a whopping 18.96 carats - is so unusual that it has been called "as good as it gets" for a colored diamond, according to Rahul Kadakia, International Head of Jewellery at Christie's auction house.

It was the standout offering at Christie's fall jewelry auction in Geneva.

"$2.6 million per carat".

"This stone is for me the Leonardo da Vinci of diamonds", he added.

The diamond, which generated a great amount of interest during the annual Magnificent Jewels auction due to its size, is categorized as a "Fancy Vivid" diamond, which is the highest grade of diamond color intensity.

Rahul Kadakia, Christie's head of worldwide jewelry, said that auction house has only sold four pink diamonds weighing more than 10 carats in its 251 years of history.

The rectangular-cut stone was found in a South African mine around a hundred years ago and has likely not been altered since it was first cut in 1920, Christie's said.

"Imagine a domino that you have cut the corners off of", Jean-Marc Lunel, an worldwide jewelry specialist at Christie's, recently told AFP.

He pointed out that the cut is a "classical so-called emerald cut", which stands out from the typical, more rounded, multi-facetted cuts used today.

Fancy Vivid Pink diamonds over 10 carats are extremely rare.

In November 2017, an 8.41-carat pink diamond sold for $17,768,041 (£11,438,714) in Hong Kong - more than $2.1m (£1.8m) a carat.

Christie's said the Pink Legacy is "the largest and finest Fancy Vivid Pink diamond ever offered at auction by the company", calling the stone "incomparable". At nearly 15 carats, the diamond sold for a record-breaking $2.176 million per carat.

"It is probably the most handsome (specimen) ever presented at public auction", Mr Lunel said.

Other reports by Click Lancashire

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