Geneva, Switzerland (AHN) – Scheduled for sale Tuesday at Sotheby’s Geneva is a rare 24.78 carat pink diamond considered to be the most desirable and beautiful in the world.
The pink diamond, mounted on a ring, is rectangular in shape and is the size of a pinball or large marble. According to a Sotheby’s statement, the stone is an exceptionally rare pink diamond of the purest, vibrant hue, and graded Fancy Intense Pink by the Gemological Institute of America, who rated it as flawless after repolishing.
The diamond has not been on the open market since it was sold 60 years ago by U.S. jeweler Harry Winston to an unknown buyer. It has been in a private collection ever since and is only now being brought back to the market. The diamond was first exhibited in Hong Kong in early October, followed by an international tour.
Though valued at a pre-sale estimate of $27 million to $38 million, exclusive of buyer’s premium, it is expected to finally sell for $60 million. The current record is held by the 17th century “Wittelsbach” blue diamond, weighing 35.56 carats, and was sold at a Christie’s auction in 2008 at $24.3 Million. It was then the most expensive jewelry sold in an auction.
This was followed by another Christie’s auction sale of a five-carat pink diamond in Hong Kong for $10.8 Million in December, 2009.
This is not surprising considering that the market for colored diamonds is extremely strong, particularly for blue, pink and green colored diamonds, which are the most sought-after gemstones in auction houses of the world today.