A record-breaking pink diamond is embarking a tour of the world ahead of an auction in November.
The largest cushion-shaped Fancy Vivid Pink diamond to go under the hammer will be the centrepiece of a Magnificent Jewels auction on 10th November in Geneva. The 16.08 carat stone is set as a ring, with a double row of pavé-set white diamonds, which surround and highlight the main stone. The stone is estimated at US$23-28 million.
Before it hits the auction floor, though, the auction house will be taking the gem on a tour of hotspots to dazzle possible investors. Indeed, in the realm of natural colored diamonds, those of a distinct pink hue are the most sought-after. Whhle most pink diamonds exhibit a color modifier like purple, orange, brown or grey, this 16.08 carat diamond has “absolutely no trace of a secondary colour”, explains Christie’s.
It also classifies as a Type IIa diamond, which contains little if any nitrogen and accounts for less than 2 per cent of all gem diamonds. In the Fancy Vivid pink range, diamonds of even five or six carats are rarely encountered in the sale room and those over 10 carats are virtually unheard of. In fact, fewer than 10 per cent of pink diamonds weigh more than one-fifth of a carat. In almost 250 years of auction history, only three pure vivid pink diamonds of over 10 carats have appeared for sale.
“As large and rare colored diamonds of this caliber become increasingly hard to locate, this 16.08 carat Fancy Vivid pink diamond comes to market at a time when great gems are mirroring prices achieved for masterpieces in the world of fine art. Collectors are looking to jewels as savvy investments that are both beautiful and can appreciate considerably in value over a relatively short period of time,” comments Rahul Kadakia, Christie’s International Head of Jewellery.
The tour will start at Hong Kong and continue to New York and London.