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AuctionsFeb 07, 2016
A 16-carat fancy vivid pink, up for sale
The 16.08-carat cushion-shaped diamond is expected to sell for as much as $28 million at the Christie’s Geneva jewelry auction next month.
Geneva--The largest cushion-shaped fancy vivid pink diamond ever offered at auction is expected to bring in as much as $28 million next month at Christie’s sale of Magnificent Jewels in Geneva.
Christie’s will take the diamond on tour around the world, showcasing the stone in Hong Kong, New York and London before it is offered for sale on Nov. 10 in Geneva.
The auction house said when it comes to pink diamonds, most exhibit a color modifier like purple, orange, brown or gray. This 16.08-carat stone, however, “shows absolutely no trace of a secondary color, making it exceedingly rare and attractive,” and its Type IIa classification means there is little to no nitrogen in the diamond.
What’s more, when it comes to diamonds in the fancy vivid pink range, stones of 5 or 6 carats are “rarely encountered” in the sale room and those weighing more than 10 carats are “virtually unheard of,” Christie’s said.
“As large and rare colored diamond 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,” said Rahul Kadakia, Christie’s international head of jewelry.
Pink diamonds have achieved high prices at auction in the past few years, among them the “Princie Diamond,” a 34.65-carat cushion-cut fancy intense pink diamond that sold for $39.3 million in April 2013.
In June 2014, a 5.50-carat fancy vivid pink diamond topped its pre-sale high estimate by $2 million when it sold for $9.6 million, and just a few months later, an 8.41-carat fancy vivid purple-pink diamond realized $17.8 million.
“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,” Kadakia said.
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