I have said it before and I will say it again, it is the era of the big diamond! Christie’s is kicking off their fall Magnificent Jewels sale in Geneva on November 10, with the world’s largest cushion shaped Fancy Vivid Pink diamond to ever be offered at auction. The auction estimate is $23 to $28 million.
The 16.08 carat diamond is set as a ring, with a double row of pavé set white diamonds that surround the main stone, and a third row of small pink diamonds underneath. The band is comprised of small circular-cut white diamonds set in platinum.
In the realm of natural colored diamonds, those of a distinct pink hue are among the most sought after among gem connoisseurs. While most pink diamonds exhibit a color modifier like purple, orange, brown or grey, this 16.08 carat gem shows no trace of a secondary color, Christie’s said. In addition, it’s classified as a Type IIa diamond, which means it contains little if any nitrogen and accounts for fewer than 2 percent of all diamonds.
The stone’s even color distribution, combined with a balanced saturation and tone and straight pink hue, qualify the 16.08 carat pink for the coveted ‘Fancy Vivid’ color grading from the Gemological Institute of America (GIA). That only one in one hundred thousand diamonds possesses a color deep enough to qualify as ‘Fancy’ underscores its absolute rarity.
In the Fancy Vivid pink range, diamonds of even five or six carats are rarely encountered in the sale room and those over ten carats are virtually unheard of. In fact, fewer than 10 percent of pink diamonds weigh more than one-fifth of a carat. In almost 250 years of auction history, only three pure vivid pink diamonds of over ten carats have appeared for sale.
In almost 250 years of auction history, only three pure vivid pink diamonds of over ten carats have appeared for sale, the auction house said.
“As large and rare colored diamonds of this caliber become increasingly hard to locate, this 16.08 carat Fancy Vivid pink diamond comes to market at a time when great gems are mirroring prices achieved for masterpieces in the world of fine art. Collectors are looking to jewels as savvy investments that are both beautiful and can appreciate considerably in value over a relatively short period of time.” said Rahul Kadakia, Christie’s International Head of Jewellery.
Some of the world’s most famous and historic gems have been pink diamonds, including the ‘Darya-i-Nur’, part of the Iranian Crown Jewels; the ‘Hortensia’, formerly part of the Crown Jewels of France and today to be admired at the Louvre; and the ‘Williamson’, belonging to Her Majesty the Queen of England.
An historic level was reached in the international diamond market on December 1, 2009 when Christie’s Hong Kong sold The Vivid Pink, a cushion shaped fancy vivid pink diamond of 5.00 carats for an astounding $2,155,332 per carat that established and remains to date the world auction record price per carat for any pink diamond.
The diamond is set to feature in a global tour, which will see pieces from Magnificent Jewels sale presented in Hong Kong, New York, and Geneva.