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Tuesday, October 5, 2010

Rare 24-ct. Fancy Pink Diamond Up for Auction


A rare pink diamond of the "purest, vibrant hue," weighing 24.78 carats and graded Fancy Intense Pink by the Gemological Institute of America will be up for auction on November 16 at Sotheby’s Geneva, as part of its sale of Magnificent Jewels. The stone has a pre-sale estimate of $27- $38 million.

The emerald-cut stone, mounted as a ring, is categorized as a type IIa classification, which comprises less than 2 percent of the world’s diamonds, the auction house said in a statement. In addition, while presently graded as VVS2 clarity, the GIA states that the stone may be internally flawless after repolishing. It is part of a private collection and has not appeared on the open market since it was purchased some 60 years ago from Harry Winston.

“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 Bennett, chairman, Europe and the Middle East, Sotheby’s International Jewellery Department. “What makes it so immensely rare is the combination of its exceptional color and purity with the classic emerald-cut—a style of cutting normally associated with white diamonds and one that is so highly sought-after when found in rare colors such as pink and blue. The stone’s character is further enhanced by the gently rounded corners which impart a unique softness and charm to this truly outstanding gemstone.”

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