Christie’s Geneva auction to feature largest fancy vivid pink diamond worth $50m - Markets news - KOTLYARS.COM

Christie’s Geneva auction to feature largest fancy vivid pink diamond worth $50m

Christie’s Geneva auction will present the largest and finest fancy vivid pink diamond ever offered at auction by the company with a price estimated between $30m to $50m (£22.8m to £38m). Weighing just under 19 carats (18.96 carats), the rectangular-cut gem named the The Pink Legacy will lead Christie’s Magnificent Jewels auction, held at the Four Seasons Hotel des Bergues in Geneva.

Rahul Kadakia, international head of jewellery said: “The discovery of this previously unrecorded and remarkable diamond will cause immense excitement with collectors and connoisseurs of diamonds around the world. “The Pink Legacy will be exhibited on a global tour prior to being auctioned on 13 November at the Four Seasons Hotel des Bergues. Its exceptional provenance will no doubt propel it into a class of its own as one of the world’s greatest diamonds.”

The Pink Legacy has been awarded the highest diamond color grading of ‘Vivid’ by the Gemological Institute of America. Vivid coloured diamonds are the most strongly saturated gems, displaying the optimum hue of the stone. It is a classic rectangular cut diamond, a cut that is traditionally used for white stones. Tom Moses, executive vice president at the GIA, said: “Pink diamonds of any size and depth of colour have always had a special allure even amongst knowledgeable industry members. The 18.96 carat emerald cut pink diamond is amongst the rarest of all gemstones.”

In addition, it classifies as a Type IIa diamond, which contains little if any nitrogen and accounts for less than two percent of all gem diamonds. Type IIA stones are some of the most chemically pure diamonds. One of the most celebrated pink diamonds is the Williamson found in the Williamson mine situated near Tanzania in 1947. It was gifted as a wedding present by John Williamson, the owner of the mine, to the queen, then Princess Elizabeth. In the saleroom fancy vivid pink diamonds over ten carats are virtually unheard of and only four vivid pink diamonds of over ten carats have ever been offered for sale at auction.

In November 2017 when Christie’s Hong Kong sold The Pink Promise, an oval-shaped fancy vivid pink diamond of just under fifteen carats for $32m which established and remains the world auction record price per carat for any pink diamond.