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FANCY COLOR DIAMONDS

The Fortune Pink

The Fortune Pink. (Photo courtesy of Sotheby’s)

OCTOBER AND NOVEMBER MAY BE TINGED IN PINK,
WITH AUCTIONS FEATURING TWO EXCEPTIONAL STONES

If all goes as planned, October and November should have a decidedly pink tinge, at least as far as the world’s two leading auction houses are concerned. On October 5 in Hong Kong, and then one month later in Geneva, two large fancy pink stones will go on the block, and together could net the companies in excess of $50 million.

Sotheby’s announced its sale last month, but on September 26 Christie’s also revealed that it has a spectacular and similarly colored stone on offer. Called the Fortune Pink, it is an 18.18 carat pear-shaped diamond graded fancy vivid pink.

The estimates sales range for the Fortune Pink is $25 million to $35 million.

According to Christie’s, the Fortune Pink will lead the Geneva Magnificent Jewels sale at the Four Seasons Hotel des Bergues Geneva on November 8, 2022, as part of Christie’s Luxury Week. It is the largest pear-shaped fancy vivid pink diamond ever to be offered for sale at auction.

The diamonds exact caratage is said to be significant, since 18.18 is considered a symbol of prosperity across parts of Asia.

“After The Rock, a 228-carat diamond sold this May in Geneva, Christie’s is proud to present the Fortune Pink, the largest pear-shaped fancy vivid pink diamond offered for sale at auction. With its auspicious weight of 18.18 carats this exceptional pink diamond of phenomenal color will certainly bring good fortune to its new owner, said Rahul Kadakia, Christie’s International Head of Jewellery.

The Fortune Pink will be revealed at Christie’s New York on the the week of October 3, before touring to Shanghai, Taiwan and Singapore. It will be on display in Geneva from November 2 until the auction.

BUBBLEGUM-PINK DIAMONDS

Christie’s will be keeping a close eye on Sotheby’s in Hong Kong on October 7, when the 11.15-carat Williamson Pink Star goes onto the auction block. The sale had originally been planned to take place on October 5.

The Williamson Pink Star is only the second internally flawless fancy vivid pink diamond weighing over 10 carats ever to to be offered at auction, with the the first being the massive CTF Pink Star, weighing in 59.60 carats, which was sold by Sotheby’s in 2017 and continues to hold the world auction record for any jewel. It was described at the time as “a total freak of nature,” by Tom Moses, executive vice president of the Gemological Institute of America.

As its name suggests, the Williamson Pink Star was mined at the historic Williamson Mine in Tanzania, which was famous for producing “bubblegum” pink diamonds. The most famous example from this mine was the Williamson Pink Diamond, which belonged to the late Queen Elizabeth II.

In announcing the sale, Sotheby’s estimated that it would be sold for more than $21 million. “Driven by a limited supply and rising demand, prices for top-quality large pink diamonds over 5 carats have increased exponentially over the past decade, serendipitously setting the scene for the appearance now of this one-of-a-kind stone,” said Wenhao Yu, Chairman of Jewellery and Watches at Sotheby’s Asia.

 

pear-shaped Fortune Pin, pink diamond.

The 18.18-carat pear-shaped Fortune Pin,  graded fancy vivid pink. (Photo courtesy of Sotheby’s)

RECORD BREAKING DIAMONDS

The recent closure of the Argyle mine raised questions in the market about the continuing supply of pink fancy-colored diamonds. Since it opened in 1985, the Western Australian facility constituted by far the most prestigious producer of pink diamonds the world had ever known.

The 11.15-carat Williamson Pink Star

The 11.15-carat Williamson Pink Star. (Photo courtesy of Christie’s.)

But the record breaking stones, like the CTF Pink Star, were rarely, if ever, Australian. It was African, and had been discovered by De Beers in 1999.

The CTF Pink Star broke every record in terms of size, quality and price. The closest top-quality pink diamonds sold at auction was the Winston Pink Legacy, an 18.96 carat vivid pink, sold for $50.7 million at Christie’s in November 2018.

Until that sale, the Graff Pink held the record as the most expensive pink at auction. The 24.78-carat fancy intense pink diamond sold for what was record breaking $46.1 million at Sotheby’s in November 2010. 

The Princie Diamond, a 34.65 carat fancy intense pink diamond was at  Christie’s for $39.3 million in April 2013, and the Pink Promise, a 14.93-carat fancy vivid pink diamond, went for $32.5 million at Christie’s in Hong Kong in November 2017.

Both the Fortune Pink and the Williamson Pink Star are expected to bring in tidy amounts for the auction houses and their owners, but neither are expected to break records.

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