MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online StorefrontPlus, parent company Saks Global announces plans to cut ties with up to 600 vendors.
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
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not DeadPeter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque NecklaceThe necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Supplier BulletinMay 15, 2025
Treasure Hunting at the Las Vegas Antique Jewelry and Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
Weekly QuizMay 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 15, 2025
Jessica McCormack’s ‘Fruit Salad’ Collection Is Fresh for SummerThe designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.
SourcingMay 15, 2025
Tariffs Take Toll on India’s Gem and Jewelry Industry in April The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
Policies & IssuesMay 15, 2025
State of Retail: How to Better Serve Customers With DisabilitiesAround 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.
Events & AwardsMay 15, 2025
Poet Sekou Andrews to Give Closing Keynote at ConvergeThe event is also accepting poster submissions now through June 16.
Policies & IssuesMay 14, 2025
Here’s What Happened to Pope Francis’ RingBefore Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.
MajorsMay 14, 2025
Jeff Corey Elected Chair of JBT Board The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.
Policies & IssuesMay 14, 2025
Foundrae Donates $11K to Ethical MetalsmithsThe donation was the result of the brand’s annual Earth Day Ingot event.
IndependentsMay 13, 2025
Eiseman Jewels’ Renovated Dallas Store Is Bigger and BetterLocated in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.
MajorsMay 13, 2025
DCA Announces New Learning Platform, Course UpdatesThe nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.
MajorsMay 13, 2025
BIJC Launches New Education FundBIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.
TrendsMay 13, 2025
State of Jewelry Design: The Top 10 Jewelry Trends of the Past DecadeAs a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.
Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum “Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal InvestigationMoti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s DayLichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in ZambiaThe miner announced plans to recommence open-pit mining at Kagem.
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
