Rare pink diamond sells for US$28.5 mln at Geneva auction
GENEVA: A spectacular pink diamond, the largest of its kind to ever appear at auction, sold for US$28.5 million (26.6 million euros) on Tuesday, narrowly beating auction house Christie’s projection.
An unidentified bidder snatched up the 16.08-carat rare gemstone, kicking off a week of auctions that could see another coloured diamond set a new world record.
That stone, a 12.03-carat blue diamond described by experts as flawless, is being sold by rival auction house Sotheby’s on Wednesday, and could fetch a record us$55 million.
The pink diamond, owned by an American family for the past 15 years, is the largest cushion shaped stone classified in the elite “fancy vivid” category to ever come to auction.
Christie’s had listed the projected sale price between US$23 and US$28 million.
“This is an absolutely top price for a stone of this quality,” the head of Christie’s luxury division, Francois Coriel, told journalists after the final hammer of the night fell.
Rahul Kadakia, the International Head of Jewellery at Christie’s, had previously told AFP that the stone had the potential to fetch more than 30 million.
Christie’s said that only three pink stones classified by the Gemological Institute of America as “fancy” and weighing more than 10 carats have been up for sale in 250 years.
Coloured diamonds have been the centre of attention in the run up to the this week’s magnificent jewel sales in Geneva, with experts insisting that the market for such rarities has grown increasingly robust.
“Coloured diamonds... have seen sustained growth during the last few years. Partly because of their great rarity, but equally because of their beauty,” said David Bennett, head of Sotheby’s international jewellery division.
Another 7.07-carat fancy pink sold for 3.4 million Swiss francs, below Christie’s estimate of 4.5 million francs, possibly suggesting this season’s market for coloured stones is more tepid than expected.
All eyes will turn to Sotheby’s on Wednesday, when its prized lot, dubbed ‘Blue Moon’, will aim to shatter the record for a stone sold at auction.
Discovered in South Africa in January last year, the Blue Moon is the largest cushion shaped blue stone in the fancy vivid category to ever appear at auction.
Sotheby’s has put its estimated sale price between US$35-US$55 million which, at the top end, would break the auction record.
A pink diamond holds the current world record for sale at auction, set by Sotheby’s in November 2010 in Geneva, when a 24.78-carat pink diamond sold for US$46 million.
The current record for a blue diamond belongs to the Zoe Diamond, which in November 2014 fetched US$32.6 million in New York.
Among the other highlights at Christie’s sale, was a 50.48carat white diamond, which sold for US$6.8 million, excluding commission.
In total, Christie’s 409 lot auction brought in US$110 million.