ColumnistsJan 21, 2025
Peter Smith: Sales Training’s Dirty Little SecretPeter Smith pulls back the curtain on the often misinterpreted, and sometimes maligned, world of sales training.
AuctionsNov 29, 2017
‘Pink Promise’ Nearly Matches Per-Carat Price Record
The 14.93-carat fancy vivid pink diamond sold for $31.9 million, or $2.13 million a carat, at Christie’s Hong Kong sale.
The 14.93-carat “Pink Promise” nearly matched a world auction record at Christie’s Magnificent Jewels Hong Kong sale on Tuesday. Originally 16.10 carats, seller Stephen Silver recut the stone to improve its color.
Hong Kong--“The Pink Promise” diamond, a 14.93-carat fancy vivid pink, sold for $31.9 million at Christie’s Magnificent Jewels Hong Kong sale Tuesday, nearly matching the world auction record for per-carat price for a pink diamond.
That works out to $2.13 million, just short of the $2.15 million per carat a buyer paid for a 5-carat vivid pink diamond at Christie’s Hong Kong in December 2009.
It was the end of an interesting journey for the Type IIa stone’s seller, Stephen Silver, who originally purchased the diamond in 2013 and recut it to maximize its color.
“The work we did on this particular diamond was the most challenging recut in which I have been involved, due to the technical difficulty and large financial risk,” Silver said in a press release. “It is a privilege, however, to work with a world-class team and have my name associated with one of the world’s great gemstones.”
Silver has worked with or owned many important stones, including the Cullinan Blue Diamond necklace, which he purchased in the 1990s and later donated to the Smithsonian National Museum of Natural History.
He’s also recut various colored diamonds, including “The Cranberry,” a fancy purplish-red; “The Million Dollar Pumpkin,” a fancy vivid orange; and a fancy vivid blue diamond. Each of these diamonds ranged from 1 to 6 carats.
Silver has spent his entire adult life dedicated to pursuing his fascination for rare and unique stones. The San Francisco-area native started his career by obtaining a geology degree from San Diego State University before becoming a certified gemologist at the Gemological Institute of America and going on to work at a diamond and colored gemstone company in Los Angeles.
Upon returning to San Francisco, he established an estate jewelry firm for antiques and important stones, which later became a vertically integrated wholesale manufacture and retail business.
When it came to his acquisition of “The Pink Promise” in 2013, Silver had a hunch that the stone, which weighed 16.10 carats at the time of his purchase, could be cut in certain areas to bring out a deeper hue.
It took Silver and a master gem cutter three years of planning and meticulous facet-by-facet cutting to achieve their desired outcome.
Down to 14.93 carats, the GIA certified what was once a fancy intense pink diamond to a fancy vivid pink diamond, the highest color grade possible for a
pink diamond. They also certified the stone as having VVS1 clarity, just under flawless.
“The Pink Promise” represents the largest and most valued project of Silver’s gemology career, he said.
“The Pink Promise” represents the largest and most valued project of Silver’s gemology career, he said.
More on Auctions
The Latest
TrendsJan 21, 2025
Amanda’s Style File: Decadent Mocha MoussePantone’s 2025 Color of the Year takes the form of jewelry through gemstones and enamel that look just as delicious as mocha mousse.
Policies & IssuesJan 21, 2025
These Designers and Retailers Are Raising Money for LA Wildfire Relief From raffles to auctions to donations, the industry is working to aid charities in Los Angeles amid the raging wildfires.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
SourcingJan 21, 2025
Diamonds Do Good Adds 2 Board MembersJulia Hackman Chafé and Monica Elias have joined the organization’s board of directors.
Weekly QuizJan 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsJan 17, 2025
Richemont’s Jewelry Sales Rise 14% in Holiday QuarterThe company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion.
CollectionsJan 17, 2025
Piece of the Week: Picchiotti’s Transformable ‘Classic Blue and Green’ NecklaceThe necklace features a sapphire drop weighing more than 9 carats that detaches to transform into a ring.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
MajorsJan 17, 2025
Tiffany & Co., CFDA Name First Winner of Jewelry Designer AwardJameel Mohammed, founder of Afrofuturist brand Khiry, will receive a cash prize and a one-year paid fellowship with Tiffany & Co.
IndependentsJan 16, 2025
Lux Bond & Green to Open Sixth LocationThe 127-year-old jeweler is planning to open a new store in Mystic, Connecticut.
WatchesJan 16, 2025
Timex Launches Collection of National Park WatchesThe watches’ dials feature artwork celebrating the vibrant energy and unique landscapes of six of America’s national parks.
Events & AwardsJan 16, 2025
JCK Las Vegas 2025 Open for RegistrationThe jewelry trade show returns to The Venetian Expo and The Venetian Resort in Las Vegas from June 6 to 9.
EditorsJan 15, 2025
The Jewelry I’d Bid On in Christie’s Iris Apfel AuctionAssociate Editor Natalie Francisco highlights her favorite fashion jewelry pieces from the upcoming “Unapologetically Iris” auction.
MajorsJan 15, 2025
Macy’s to Close 66 Stores as Part of Turnaround StrategyThe closures are part of the retailer’s plan to close 150 locations over a three-year period.
Policies & IssuesJan 15, 2025
JVC Debuts Guide to Americans with Disabilities Act ComplianceThe online guide is available for free and written with the jewelry industry in mind.
Events & AwardsJan 15, 2025
Jose Hess Design Awards Open for SubmissionsThe awards honor the late Jose Hess, a founding member of AJDC and an award-winning jewelry designer.
GradingJan 14, 2025
GIA CEO, President Susan Jacques to Retire at the End of 2025The grading lab said the search for her successor is underway.
ColumnistsJan 14, 2025
Jules Kim: Building Bridges Between Creators and IndustryIn this special op-ed, designer Jules Kim calls on big brands to collaborate with independent creators instead of copying their designs.
GradingJan 14, 2025
Former SSEF Director Henry A. Hänni DiesA pioneering figure in gemology, he is remembered for his spirit of generosity, curiosity, and joy.
FinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall ShortThe peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.
MajorsJan 14, 2025
Edouard Schneider Joins Messika as Chief Brand OfficerSchneider brings over 20 years of luxury and fashion industry experience to his role as a key member of the brand’s global leadership team.
SourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking GemfieldsGemfields said the Zambian government revoked the 2019 suspension of the tax with no warning.
TechnologyJan 13, 2025
Ultrahuman Unveils Luxury Smart RingWith versions in 18-karat gold and platinum, the wearables company is blending health technology and fine jewelry.
Policies & IssuesJan 13, 2025
Brandee Dallow Elected President of Ethical MetalsmithsThe executive brings more than two decades of industry experience to the role.
IndependentsJan 13, 2025
The Seven Pops Up in Palm BeachThe New York City-based retailer is bringing its curation of jewels to a pop-up shop at Love Binetti in Palm Beach, Florida.
Policies & IssuesJan 10, 2025
Jewelers Relief Fund Reopened to Aid Victims of LA Fires Created by JA and DCA, the fund is collecting money for jewelry businesses damaged by the wildfires in Los Angeles County.
TrendsJan 10, 2025
Piece of the Week: Elsa Jin’s ‘Mozi’ BroochAdrien Brody received his first Golden Globe while wearing the “Mozi” brooch, which depicts a spill of traditional Chinese calligraphy ink.
