argyle pink diamonds

Pink diamond could beat the record for the price per carat

The “Pink Legacy”, the name given to this diamond of 18.96 carats, is auctioned this Tuesday in Geneva.

In pursuit of the pink diamond. In Geneva, on Tuesday, at an auction organized by Christie’s, the “Pink Legacy”, a small name given to a stone of exceptional weight, color and purity, could well beat the record for the price per carat for a pink diamond. Expected price: between 30 and 50 million dollars (44.51 million euros).

“His weight is 18.96 carats precisely. When we know that most pink diamonds weigh less than one carat, it is a very considerable weight, “explained Jean-Marc Lunel, international specialist for jewelery at Christie’s.

This pink diamond, called the Pink Legacy, is rated “Fancy Vivid”, the highest grade of color intensity. But the “Fancy Vivid” diamonds of more than ten carats are almost unknown to auction houses, with only four pink “Fancy Vivid” diamonds that have already come under fire, according to Christie’s.

“The most beautiful ever presented for sale”

It is also part of so-called IIa type diamonds implying that it contains very little or no trace of nitrogen, accounting for less than 2% of all diamonds, according to experts. Diamonds of this type are among the purest chemically, often with “exceptional transparency and brilliance,” according to Christie’s.

“You have to know that this one is quite extraordinary and it’s probably the most beautiful ever presented at auction. So all hopes are allowed for the sale of this stone Tuesday, “assured Jean-Marc Lunel. “Imagine a domino from which you would have cut the corners … Its size is quite classic, which we call emerald cut, while most cut diamonds today have modified sizes with more facets,” explained Jean-Marc Lunel.

pink diamond

Pink Legacy has been owned for decades by the Oppenheimer family, which for decades has run the De Beers mining company, explains Christie’s, who does not want to reveal the name of the current owner of the stone.

“This diamond comes from the mines of South Africa. It was carved a long time ago: it was discovered about a century ago, it was probably cut in the 1920s “and has not been re-cut since then, said Christie’s expert. It is estimated at between 30 and 50 million dollars (between 26.5 and 44.1 million euros).

32.48 million, record to beat

According to Eddie Le Vian, jeweler known for its so-called “chocolate” brown diamonds, the Pink Legacy “will beat the world record” of the price per carat of a pink diamond. “We have recently witnessed a dramatic increase in the number of extremely wealthy people in the world who see rare colored diamonds as investments,” he said.

A record was reached in November 2017 in Hong Kong when Christie’s sold “The Pink Promise”, a pink diamond Fancy Vivid oval shape of just under 15 carats for $ 32.48 million, which remains day a world record per carat for a pink diamond (2.17 million per carat).

In 2013, a very large pink diamond of 59.60 carats was awarded by Sotheby’s in Geneva at a price of $ 83 million (1.39 million per carat). His acquirer, however, was wrong. Sotheby’s was forced to buy the stone and sold it in 2016 in Hong Kong for $ 71.19 million (1.19 million per carat).