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FANCY COLORED DIAMONDS

WORLD’S MOST VIVID PINK DIAMOND TO GO ON BLOCK (cover)

 estimated to be worth more than $35 million (Photo: Sotheby’s)

WORLD’S MOST VIVID PINK DIAMOND TO GO ON BLOCK,
COULD BRING IN $35 MILLION OR MORE

 

Auction house Sotheby’s has announced that it plans to offer what is described as the most vivid pink diamond ever to come to the market. Weighing 10.57 carats and called the Eternal Pink, the stone is estimated to be worth more than $35 million.

The diamond will go on the block on June 8 at Sotheby’s annual Magnificent Jewels auction in New York.

In the natural diamond fancy color range, the vivid grade is exceedingly rare, and even more so for a stone of this size. It has been evaluated as Fancy Vivid Purplish Pink grade by the Gemological Institute of America (GIA) is the pinnacle of excellence, with addition of the purplish hue expected to push its value further northwards. The color has be compared by some to bubblegum.

If the Eternal Pink achieves is forecast sales price target, it will bring in $3,311,258 per carat, one of the highest amount ever paid.

“The 10.57-carat Fancy Vivid Purplish Pink diamond is a stunning specimen, one of nature’s great wonders transformed through artistry and ingenuity,” said Tom Moses, GIA’s Executive Vice President, as well as its Chief Laboratory & Research Officer. “Its refined lines combined with the intensity of its color earn it a place as one of the world’s most extraordinary gems.”

If the Eternal Pink achieves is forecast sales price target, it will bring in $3,311,258 per carat, one of the highest amount ever paid. (Photo: Sotheby’s)

RARER THAN A MAGRITTE OR A WARHOL

The diamond was mined as 23.78-carat rough stone at Damstshaa in Botswana. Meaning “water for a tortoise”, the mine is owned by Debswana, a partnership between the De Beers, Aquarius Global Resources and the government of Botswana. Opening 2003, the open-pit mine it is the smallest of four Debswana-operated sites in the country.

According to media reports, it took the team at Diacore, a large stone specialist manufacturer that works closely with De Beers, six months to fashion to fashion a cushion cut, which is said to maximizie the diamond’s electric color to its full potential.

“This color is the most beautiful and concentrated shade of pink in diamonds that I have ever seen or has ever come to market,” stated Quig Bruning, Head of Sotheby’s Jewelry, Americas.

The Eternal Pink’s immense presence and great rarity make it comparable to ultimate masterpieces of art – far rarer than a Magritte or a Warhol. Combined with its exceptional clarity, it is not surprising that it would command the highest per-carat pre-sale estimate for any diamond to date, he added.

Sotheby’s will present the Eternal Pink in Hong Kong from April 1 to 7, coinciding with the 50th-anniversary celebrations of its presence in Asia. It will then begin a pre-auction global tour, stopping in Dubai, Singapore, Shanghai, Taiwan, and Geneva.

 

A HISTORY OF PINKS AT AUCTION

When it comes to fancy colored pink stones, Sotheby’s is an experienced hand. It was the auction house at which was set the current record for the price per carat record for any diamond or gemstone ever sold at auction. That was the Williamson Pink Star, an 11.15-carat Fancy Vivid Pink Internally Flawless diamond, which sold in October 2022 for $5,178,124 per carat.

The record-breaking CTF Pink Star, a 59.60-carat oval Fancy Vivid Pink Internally Flawless diamond was also auctioned by Sotheby’s. Its sale price of $71.2 million makes it the most valuable gemstone ever sold at auction.

The Damstshaa mine in Botswana. (Photo: Debswana)

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.