SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
AuctionsFeb 07, 2016
At $28.5 million, pink diamond sets record
Newly named the “Pink Josephine” and sold Tuesday at Christie’s Geneva, the 16.08-carat stone set a new world auction record price for a vivid pink diamond.
The 16.08-carat, VVS2 clarity diamond is the largest cushion-shaped fancy vivid pink ever to be offered at auction. It brought in $1.8 million per carat.
Geneva--A new world auction record for a vivid pink diamond was set overseas on Tuesday when a 16.08-carat fancy vivid pink diamond sold for $28.5 million.
The cushion-shaped stone, part of Christie’s Geneva sale of Magnificent Jewels, was purchased by an Asian private buyer who named it “Sweet Josephine.”
The diamond is exceedingly rare because it it shows absolutely no trace of a secondary color, Christie’s said, and its Type IIa classification means there is little to no nitrogen in the diamond.
Also notable is the size of the stone. The auction house said with diamonds in the fancy vivid pink range, stones of five or six carats are “rarely encountered” in the sale room and those weighing more than 10 carats are “virtually unheard of,” making a pink diamond as large as 16.08 carats increasingly hard to locate.
In total, the Nov. 10 auction fetched $109.5 million, selling 80 percent by lot and 86 percent by value.
The sale saw strong results for colored gemstones and natural pearls, with a fancy vivid yellow diamond, a bluish-gray diamond, a Burma sapphire and two pearl necklaces all making it into the auction’s top 10 lots.
Coming in as the second-highest lot after Sweet Josephine was a 50.48-carat pear-shaped, brilliant-cut internally flawless diamond of D color. It sold for $7.8 million, or $155,264 per carat.
A 91.81-carat cushion-shaped fancy vivid yellow diamond of VS2 clarity garnered $4.3 million, followed by a 118.88-carat cushion-shaped Burma sapphire, which brought in $4.2 million. Both stones were purchased by the Middle Eastern trade, according to Christie’s.
When it came to pearls, a single-strand natural pearl and diamond necklace sold for $2.2 million, and a single-strand natural pearl necklace with a diamond clasp realized $2.1 million.
“Selling the largest vivid pink cushion-shaped diamond … for a new world auction record price is a strong indication that there is still demand from clients from that end of the market for these truly precious stones,” said Rahul Kadakia, international head of Christie’s jewelry department. “This is also true for pieces of historic or royal provenance, which similarly attracted a lot of interest during the viewing and sold above estimate.”
Kadakia added that rubies also were in high demand, with 27 ruby lots in the auction selling “very well.”
A complete list of results of Tuesday’s Magnificent Jewels sale can be found on the Christie’s website.
More on Auctions
The Latest
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
