A Celebration of Jewelry and the Business Behind the Beauty
Leibish & Co
Thursday, March 10, 2011
Pink Diamond Could Fetch $15 Million at Auction
A10.09 fancy vivid purplish-pink diamond will be the highlight of Christie’s Magnificent Jewels sale being held April 12 in New York. The gem is expected to fetch from $12 to $15 million.
“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 Jewelry at Christie's New York. “Fewer than 10 percent of all pink diamonds mined weigh more than 0.20 carats, and even fewer exhibit the exceptional color saturation and brilliance of this exceptional gem. In all my years at Christie’s, I have never seen such vivid color in a stone of this size.”
Large pink diamonds have been very popular on the auction market. In the last 15 months, four pink diamonds have fetched more than $1 million per carat at auction. The Vivid Pink, a 5-ct. cushion-cut diamond, sold for more than $2.1 million per carat at Christie's Hong Kong in December 2009—a record price per carat for any diamond sold at auction.
“At Christie’s New York this past December, jewelry collectors competed for a 6.89 ct. fancy vivid purplish-pink diamond, which ultimately sold for $6.9 million or $1 million per carat,” Kadakia said. “This larger stone, with its richer, deeper hue of pink and electrifying purple tone is positioned to become one of this season’s top-selling diamonds.”
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I am a freelance writer and editor who covers the luxury jewelry and watch industry for several publications, including Forbes.com the Financial Times, Hong Kong-based JewelleryNetAsiaand the Italian jewelry magazine, VO+. In addition, I have my own blog covering the jewelry and watch industry, Jewelry News Network.