Wednesday, 18 September 2019

‘Incomparable’ 44 million euros pink diamond smashes record at Geneva auction

GENEVA: An exceptionally rare pink diamond of nearly 19 carats fetched 50.3 million Swiss francs ($50 million, 44 million euros) at auction in Geneva, Christie’s said, setting a new per-carat record for a stone of its kind.

The Pink Legacy, which once belonged to the Oppenheimer family who for decades ran the De Beers diamond-mining company, was snapped up by American luxury brand Harry Winston, part of the Swiss Swatch group.

“$2.6 million per carat. That is a world record per carat for a pink diamond,” said Francois Curiel, head of Christie’s in Europe, of the price that included all fees and commissions.

“This stone is for me the Leonardo da Vinci of diamonds.”

The 18.96-carat diamond was discovered in a South African mine around a century ago, Christie’s said. It was probably cut in the 1920s and has not been altered since.

The stone was immediately rechristened the “Winston Pink Legacy” by its buyers.

Christie’s international head of jewellery, Rahul Kadakia, described it as “one of the world’s greatest diamonds”.

The rectangular-cut stone has been graded “fancy vivid” — the highest possible grade of colour intensity — as it has no trace of another hue like purple, orange or brown.

Most pink diamonds weigh less than one carat and those in the top colour category with more than 10 carats are virtually unheard of at auction houses.

The Pink Legacy is classed as Type IIa, meaning it is extremely chemically pure, a category only two percent of diamonds fall into.

“These are stones that have little if any trace of nitrogen,” said Kadakia, adding that this often gives Type IIa diamonds “exceptional transparency and brilliance”.

Check Also

Colombia plane crash kills seven

BOGOTA: At least seven people were killed and another three injured when a small plane ...

Leave a Reply