The Jewelry Insider

May 9, 2010

Want further proof that pink is ‘the’ color for 2011? Christie’s has a stunning 10-carat purplish-pink diamond up for sale that could fetch millions.

Pink diamonds are the ‘it girl’ of the auction world these days, with no less than four rosy stones bringing in more than $1 million per carat at auction in the past 15 months. “Collector demand for large colored diamonds has never been stronger, especially where pink diamonds of this size and quality are concerned,” said Rahul Kadakia, head of jewelery at Christie’s in New York. The latest rock to go on the block is a 10.09 Fancy Vivid purplish-pink diamond that’s the featured gem of Christie’s Magnificent Jewels Sale in New York on April 12th. “I have never seen such vivid color in a stone of this size,” Kadakia said, adding that the gem had an even richer, deeper hue than a 6.89 carat Fancy Vivid purplish-pink diamond that fetched $6.9 million in December. The diamond is estimated at $12 million to $15 million, but could bring in more if the market continues to stay strong. The record for pink diamonds belongs to a 24.78 carat stone which sold for $46 million at Sotheby’s last year.

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