Representatives at Sotheby’s have declared that at the New York Magnificent Jewels sale, one pink diamond will likely challenge the all-time per-carat record for any diamond or gemstone.
The diamond in question is The Eternal Pink, a 10.57-carat cushion-cut vivid purplish-pink internally flawless type IIa diamond.
The pre-sale estimate has been set at $US35 million ($AU52.09 million).
The per-carat record is currently held by the Williamson Pink Star, an 11.15-carat fancy vivid pink diamond that was sold at Sotheby’s in Hong Kong for $US57.7 million ($AU85.88 million).
This equates to $US5.2 million ($AU7.7 million) per carat.
“This color is the most beautiful and concentrated shade of pink in diamonds that I have ever seen or have ever come to market,” said Quig Bruning, head of Sotheby’s jewelry for the Americas.
“The Eternal Pink’s immense presence and great rarity make it comparable to ultimate masterpieces of art — far rarer than a René Magritte or an Andy Warhol. Combined with its exceptional clarity, it is not surprising that it would command the highest per-carat pre-sale estimate for any diamond to date.”
The Eternal Pink began as a 23.78-carat rough recovered from De Beers’ Damtshaa mine in Botswana.
The New York Magnificent Jewels sale is scheduled for June 8.
blockbuster year ahead
Enthusiasts of the world’s rarest diamonds and gemstones were taught an important lesson in 2022 – avoid repetition in order to maintain interest among buyers.
Of note, three blue diamonds from De Beers’ eight-piece collection were offered for sale as where three pink diamonds, each above 10 carats.
While the first of each color scored above high estimates, the diamonds that followed failed to generate significant interest.
This led to industry speculation that presenting too many ‘similar’ diamonds devalues them for buyers.
“I think that a lot of the focus this season is going to be on some significant color coming to the market,” Bruning told Rapaport News.
“Our expectation is that there are major pieces that we are expecting to do quite well. The biggest thing with presenting these really important stones and jewels is that whatever they do, the market creates ways of differentiating them.”
Recent jewelery fairs in Hong Kong were modest in terms of sales, and diamond dealer Jonathan Abram said that despite a range of economic pressures, he expected this ‘auction season’ to be headlined by some remarkable sales.
“The buying at the fairs wasn’t quite as good as pre-pandemic levels, but it was better than a year ago,” Abram said.
“It’s a good start, and there is interest, and privates are showing up in Hong Kong looking for high-value items. While inflation makes a difference to the one percent that buy those larger-value items, it doesn’t matter enough that they wouldn’t go after something they’re interested in.”
He added: I’m quite optimistic that sentiment will also carry over to Geneva and New York, across the board, for the entire auction season.”
The Pink Dawn – a 10.05-carat pink diamond – will be auctioned at Sotheby’s in Hong Kong on 4 April with a pre-sale estimate of $US21.4 million ($AU32.1 million).
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