The Jewelry Insider

August 5, 2009

Jewelry collectors are tickled pink that this rare colored diamond will soon be on the auction block – and the rumor mill is buzzing that the price tag will be a record-breaker.

When a rare, 5-carat pink diamond of near perfect quality becomes available on the auction circuit, jewelry collectors around the world sit up in their chairs.

One precious pink stone will go on the Christie’s auction block in Hong Kong this December, and experts predict the price to hover near world-record pace thanks in part to the buying prowess of top Asian jewelry collectors.

The cushion-cut stone is set in a ring by famed jewelers, Graff Diamonds, and is expected to fetch between $5 to $7 million smackers, in reach of the current world auction record for a pink diamond – a 19.66-carat stone that sold in Geneva for $7.4 million in 1994.

While just a quarter the size of the record-holding pink gem and not quite
flawless, the stone’s “vivid pink” is considered near perfect and the auction
house has touted it as one of the best colored stones to appear in recent years.

“There are pink diamonds and then there are pink diamonds,” said Francois Curiel, the international head of Christie’s jewelry department. “It is extremely rare for a stone of such top quality to appear on the market with top notes in color, cut, clarity and carat weight. This 5-carat vivid pink gem combines the best of all criteria,” Curiel added.

While the world’s most expensive jewel ever sold at auction is the “Wittelsbach” blue diamond, a 17th-century deep greyish-blue stone that fetched $24 million last year, top red and pink gemstones are also known for stratospheric valuations.

 

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