The Jewelry Insider

October 7, 2010

Diamond divas are drooling at the latest natural colored diamond to go on the block. Why all the fuss? This one could break the record for the most expensive stone ever sold!

From Canada’s pink diamond record-breaker to the recent display of the Kazanjian Red Diamond, natural colored diamonds are making big news these days. But one rosy rock is set to put them all to shame when it goes on the block at Sotheby’s “Magnificent Jewels” auction in Geneva on November 16th.

Why? Because the stone has a pre-sale estimate of $27-$38 million – a price range that could easily break the record set by the Wittelsbach Blue Diamond back last year, which sold for just over $24 million.

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The 24.78-carat Fancy Intense Pink diamond was last seen on the market 60 years ago when it was purchased from Harry Winston. The emerald-cut stone is mounted in a ring and is part of the ‘Type IIa’ classification, a rare type of stone that represents less than two percent of all of the world’s diamonds.

“During my 35-year career at Sotheby’s I have had the opportunity to examine many magnificent and rare gemstones and, put simply, this stone is one of the most desirable diamonds I have ever seen,” said David Bennet, chairman of Sotheby’s International jewelry department in Europe and the Middle East.

Will some of the world’s most well-known celebrities be drawn to such a rare diamond occasion? Some already have. Click here for a look at some high-profile fans of pink diamonds – and be sure to check in with our blogger, Jewelry Insider, in November for the sale results.

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