Rare Pink Diamond Auctioned Off in Geneva

By Sidra Khan
November 15, 2018
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Rare Pink Diamond Fetches a Record $50 Million at Auction

Pink diamondAn exceptionally rare 19-carat pink diamond, formally known as The Pink Legacy, has fetched an astonishing asking price of $50 Million (44 million euros) at a Christie’s auction in Geneva, setting a new per carat record for a stone of its kind. The diamond was once owned by the Oppenheimer family which for decades ran the De Beers diamond mining company, was snapped up by American luxury brand Harry Winston.

“$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 who called the stone the “Leonardo da Vinci of diamonds”.

pink diamond

The rare pink diamond has a rectangular or a classic emerald cut which is traditionally used for white stones. The diamond has been graded “fancy vivid” – the highest possible grade of colour intensity and the largest and finest pink diamond of its kind ever offered at an auction by the company. The stone was discovered in a South African mine around a century ago and was probably cut in the 1920 and has not been altered since, Christie’s said. It also shared that so far only four vivid pink diamonds of over 10 carats have ever been offered at auction.

One of them, the nearly 15-carat Pink Promise, was sold last November at a Christie’s auction in Hong Kong for $32.5 million. That amounts to $2.176 million per carat, which was previously the world auction record price per carat for any pink diamond.

pink diamond
Image: CNN

Take a Look at Some of the Rarest, Most Expensive Diamonds in the World

Diamonds are a girl’s best friend. Truer words have never been spoken. These sparkling stones will not judge you or leave you, they will listen to you for hours and lift your spirits right up, making you feel like a million bucks! Of course, all good things must come with a price (one that most of us sadly can’t afford). Here is a list of the few rare and most expensive diamonds from different corners of the world.

Diamonds
Pictures: Historic Royal Palaces

11. The Allnatt Diamond —  Up to $3 Million

This diamond is named after Major Alfred Ernest Allnatt who was one of the holders of the diamond. The Allnatt diamond has a size of 101.29 carat with a cushion cut. The stone’s color is rated as fancy vivid yellow (only one in 10,000 diamonds mined have a fancy color), by the Gemological Institute of America (GIA). No one knows precisely where the diamond was found but some experts say that it was found where the De Beers premier diamond mine is now located.

The Allnatt is presently in the hands of an anonymous diamond collector in New York City, keeping everyone on the edge of their seats for when this legendary diamond will reappear on the market. 

allnatt yellow diamond
Image: Worthly

10. The Moussaieff Red Diamond  —  Up to $8 Million

Red diamonds are the rarest diamonds in the world. The Moussaieff Red, which is also known as the Red Shield, is currently the largest natural-coloured fancy red diamond.  It is a trilliant cut (a triangular brilliant-cut) stone which weighs 5.11 carats. In 2003 and 2005, it was graded as internally flawless (IF) and was exhibited at the Natural History Museum of the Smithsonian Institution, Washington, displayed as part of eight most incredible diamonds in the world.

The Moussaieff Red was first discovered by a farmer in Brazil in the 1990’s.

moussaieff red diamond
Image: GIA

9. The Heart of Eternity  —  $16 Million

Only 1% of all mined fancy coloured diamonds is represented by blue diamonds. A fancy vivid The Heart of Eternity was mined in the South African Premier Diamond Mine. Lack of grey or black undertones makes it an exceptionally rare diamond. This stunning heart-shaped stone was originally cut from a 777-carat rough diamond. The original owner of this beauty was the Steinmetz Group. But De Beers bought it in 2000.

There have been rumors that The Heart of Eternity was bought by Floyd Mayweather back in 2012. It is said that the famous boxer had bought the diamond necklace for his then fiancée, Shantel Jackson. Unfortunately however, De Beers has not officially disclosed to whom they sold the Heart of Eternity Diamond to (or the price it was sold for).

the heart of eternity blue diamond
Image: Beautiful Life

8. The Perfect Pink  —  $23.2 Million

This Fancy Intense Pink diamond is an emerald-cut diamond and weighs 14.23 carat. Both, its size and intensity of colour make this gemstone a rare one. The Perfect Pink has a clarity grade of Very Very Slightly Included 2 (VVS2) due to slight internal blemishes, which is common in diamonds.

Christie’s sold The Perfect Pink to an unknown bidder in 2010.

The Perfect Pink diamond
Image: ABC News

7. The Wittelsbach Diamond  —  $23.4 Million

This fancy deep blue, internally flawless diamond has belonged to both, Spanish and German royalty since it arrived in Europe in the 1600s. The diamond originally weighed 35.56 carats. Later, in 2010 it was re-cut to 31.06 carats when it was passed from one European member of royalty to another. The highly controversial re-cut triggered backlash among the gemology community. However, the re-cutting did improve the colour and clarity.

For the first time in about 80 years, Christie’s presented the Wittelsbach Graff Diamond in November 2008. Lawrence Graff, the billionaire jeweler, says he knew they had to have the stone immediately after seeing it. Graff debuted the gem alongside the Hope Diamond in conjunction with the Smithsonian Museum of Natural History in January 2010.

The Wittelsbach Blue Diamond
Image: The Jewellery Editor

6.The Winston Blue  —  $23.8 Million

The Winston Blue was originally known as the Fancy Vivid Blue Diamond. In 2014, the diamond was renamed after Harry Winston, who purchased it. It is the largest diamond of its kind, said to be graded by the GIA and weighs 13.22 carat.

This pear-shaped internally flawless diamond set a new world record for the price of a blue diamond per carat in 2014 with the cost almost $2 million per carat.

 

The Winston Blue diamond
Image: Investments Diamonds

5. The Pink Star —  $71.2 Million

This stone was mined in South Africa in 1999 and was originally known as the Steinmetz Pink. It is the largest diamond to have been graded a Fancy Vivid Pink.  This internally flawless, oval pink diamond weighs 59.60 carats.

In 2017, Chow Tai Fook Enterprises from Hong Kong bought the diamond from Sotheby’s auction in a telephone bid. It was later renamed to CTF Pink Star in memory of the current Chow Tai Fook chairman’s late father.

The Pink Star diamond
Image: Observer

4. The Centenary Diamond  —  $100 Million

The original Centenary Diamond weighed over 500 carats and was classified as D levels by the GIA, the highest grade of a diamond that is colourless and internally and externally flawless. It was later cut and modified into a heart-shape which weighed 273.85 carats. The sacrifice in the carat weight of the original stone improved the colour and clarity grade of this unique diamond. The highly-skilled team took a total of 154 days to finish the re-cutting process.

There is some mystery surrounding the stone’s current ownership; it is believed that the Centenary Diamond is no longer owned by De Beers, however the new owner is unknown.

The Centenary Diamond
Image: Costar Diamonds

3. The Hope Diamond  —  $250 Million

It was believed that The Hope Diamond was discovered in India in the 1600s and later in 1668, it was bought by King Louis XIV. The Fancy Dark Gray-Blue antique cushion-cut diamond weighed 45.42 carats and was stolen during a crown jewel looting in 1791 but resurfaced in London in 1839. In 1949, Harry Winston purchased the jewel and donated it to the Smithsonian Institution. The diamond looks blue in colour to the naked eye because the number of traces of boron in the crystal structure but it shines a red phosphor under ultraviolet light.

The Hope Diamond has attracted many tourists to the museum, however, it is rumoured to be cursed due to the misfortune and tragedy that befell many of its previous owners.

The Hope Diamond
Image: Wikipedia

2. The Cullinan  —  Up to $400 Million

This stone has the distinction of being the largest rough diamond ever found. The Cullinan weighs an incredible 3,106.75 carats. Later, it was gifted to King Edward VII. The diamond was then cut into nine main stones, the largest of which is the 530.2 carats, Cullinan I. This was the largest diamond in the world until 1985 when the Golden Jubilee (545.67 carats) was discovered.

The Cullinan was discovered in 1905 in South Africa by Frederick Wells. Only 9 meters from the earth’s surface was a large, blue-white diamond, which he extracted using a pocket knife and took to the mine office to be weighed and inspected. The stone tipped the scales at 3,106 carats (621.35 grams), making it the largest diamond ever found. It was named the Cullinan after Sir Thomas Cullinan, the owner of the diamond mine in which it was found.

The cullinan diamond
Image: Galeries du Diamant

1. The Koh-i-Noor  —  Unknown

Koh-i-Noor means “mountain of light” in Persian. This oval-shaped diamond weighs 105.6 carats. It originated in the Andhra Pradesh state of India and is believed to have been mined in the country in the 1300s. It was owned by various Sikh, Mughal and Persian rulers that fought each other from time to time. The stone was found to measure 36.00×31.90×13.04 mm.  Rightly or wrongly, Britain acquired the stone in 1850. In 1852, Prince Albert had it cut from 186 carats to its current size to increase its brilliance and sparkle. Nobody has come up with the perfect estimate of the Koh-i-Noor but, the diamond was a part of the Queen Victoria’s crown which roughly cost around $10 to $12 billion.

The Koh-i-Noor is steeped in mystery and legend. The controversy behind this beautiful diamond lies in claims that Britain stole the stone from India, its rightful owners. The colourless gem that is also known as the Diamond of Babur, remains the property of the British crown, kept in HM Tower of London where it’s a popular tourist attraction.

 

 

Koh-i-Noor diamondDiamonds are a girl’s best friends yet Pearls speak louder than words! Find out if they’re the ones for you!

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About Sidra Khan

Sidra Khan is a true art lover; books, movies, writing, cooking, hair styling, make-up, fashion, fine arts, she loves art in every form. A graduate in psychology, philosophy and English literature, she has been a debating champion all her student life, all of which has translated into a highly observant, understanding, inquisitive, spiritual state of mind. Her one wish? To travel around the world!