IndependentsMay 21, 2024
State of Retail: 4 Retail Design Trends for 2024From lighter color palettes to the integration of AR, experts offer inspiration for jewelers in need of an aesthetic refresh.
AuctionsOct 13, 2020
This 14-Carat Pink Diamond Mined in Russia Is Up for Sale
Named “The Spirit of the Rose,” the fancy vivid purple-pink diamond is expected to go for as much as $38 million at auction.
Sotheby’s is putting this 14.83-carat fancy vivid purple-pink diamond up for sale at its upcoming Magnificent Jewels auction, scheduled for Nov. 11 in Geneva.
Geneva—A nearly 15-carat fancy vivid purple-pink diamond mined in Russia a few years ago is going up for sale at Sotheby’s.
The auction house announced Monday it will offer “The Spirit of the Rose” at its Magnificent Jewels auction in Geneva next month and predicts the stone will sell for between $23 million and $38 million.
Its planned sale follows Sotheby’s auction of a 102.39-carat D flawless diamond, which sold for $15.7 million last week, underperforming when compared to similar stones sold at auction in recent years.
The 14.83-carat diamond’s highest auction estimate, $38 million, is well below the $60 million one colored diamond expert predicted it would sell for back in August 2019.
Commenting on the stone’s sale, Benoit Repellin, who is heading the Magnificent Jewels auction for Sotheby’s, said: “Pink diamonds … have captured the imagination of collectors for centuries, making up five out of the 10 most valuable diamonds ever sold at auction.
“These exceptional sales, all realized in the last decade, are a testament to the growing appreciation and awareness of the great scarcity of these natural treasures around the world. With the supply of these beautiful stones becoming ever more limited, they are likely to continue to become even more prized.”
The mine that produces the bulk of the world’s pink diamonds, Rio Tinto’s Argyle mine in Western Australia, is set to close by year’s end.
The Spirit of the Rose is an oval modified brilliant-cut diamond that is internally flawless. Sotheby’s said the stone, which was graded by the Gemological Institute of America, is the largest vivid purple-pink diamond ever to appear at auction.
Its name is a nod to “La Spectre de la Rose,” an acclaimed ballet performed by the Ballets Russes company in Monaco in 1911.
Alrosa cut the diamond from the largest chunk of pink rough ever mined in Russia, a 27.85-carat diamond unearthed in July 2017. It consigned the diamond to Sotheby’s for auction.
The Spirit of the Rose will be on exhibit prior to the auction next month, though the diamond is not coming to the United States.
Sotheby’s will show it in Hong Kong on Oct. 13 and 14, Singapore on Oct. 20 and 21 and Taipei on
Oct. 27 and 28, before it returns to Geneva.
The diamond will be on display there from Nov. 7-10, ahead of the auction, which is set for Nov. 11.
The Spirit of the Rose was one in a trio of exceptional natural color diamonds mined and cut by Alrosa. It dubbed the collection “The Spectacle.”
Another stone in The Spectacle, a 20.69-carat yellow diamond, was sold to Graff.
No details have yet been released on the third stone.
The diamond will be on display there from Nov. 7-10, ahead of the auction, which is set for Nov. 11.
The Spirit of the Rose was one in a trio of exceptional natural color diamonds mined and cut by Alrosa. It dubbed the collection “The Spectacle.”
Another stone in The Spectacle, a 20.69-carat yellow diamond, was sold to Graff.
No details have yet been released on the third stone.
More on Auctions
The Latest
ColumnistsMay 21, 2024
Successful Vendor Relationships: A Win-Win ApproachSherry Smith shares tips for fostering successful vendor-retailer partnerships, from marketing investment to fast-seller replenishment.
IndependentsMay 21, 2024
Jennifer Herold Promoted to VP at IJOHerold has been with the organization for 22 years and will continue in her current role of conference director.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionGIA®’s most advanced microscope has new features to optimize greater precision and comfort.
MajorsMay 20, 2024
Studs Opens Luxury Piercing Pop-Up in NYC“Fancy Studs” will feature revamped branding and a new lab-grown diamond fine jewelry collection.
Weekly QuizMay 16, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
SourcingMay 20, 2024
2 Business-to-Business Platforms Secure Millions in Funding Nivoda and Liquid Diamonds both have big plans for the new capital.
MajorsMay 20, 2024
Stuller Issues New Packaging & Display CatalogThe 2024-2025 edition features new colors and styles, as well as storytelling elements.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
SourcingMay 20, 2024
State of the Diamond Industry: Botswana Beyond DiamondsFrom moringa to ecotourism in the Okavango Delta, the country and its leaders are exploring how Botswana can diversify its economy.
SourcingMay 20, 2024
Anglo American Confirms It Is Looking to Sell De Beers The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
FinancialsMay 17, 2024
Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEOThe announcement coincided with its full-year results, with growth driven by its jewelry brands.
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show SuccessJewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite CyberattackThough its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from AuctionDespite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve DoneLilian Raji gives advice to designers on how to make the most of great publicity opportunities.
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire BrandsWhy do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips GenevaThe “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Events & AwardsMay 15, 2024
See Who’s in JA’s 2024 ‘20 Under 40’ ClassThe annual list recognizes young professionals making an impact in jewelry retail.
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 YearsOwner David Mann is heading into retirement.
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1 While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to AuctionChristie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New CampaignThe ad aims to position platinum jewelry as ideal for everyday wear.
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal OfferingsRetailers can customize and print the appraisal brochures from their store.
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed The site has been down since Thursday evening, just ahead of its spring auctions.
