BLOG – Extraordinary rarity and beauty propel coloured diamonds to new records in Geneva

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By David Brough

The extraordinary rarity and beauty of two coloured diamonds led to two record prices in the Geneva magnificent jewellery auctions this week.

The 14.83-carat “Spirit of the Rose” sold at Sotheby’s on November 11 for $26.6 million, a record price at auction for a fancy vivid purple-pink diamond.

At Christie’s on November 10, a new record price was established for a fancy purplish-red diamond set into a ring by Graff: the 1.05-carat stone sold for CHF 2,760,000, translating into a price per carat of $2,640,000.

“The Spirit of the Rose is a truly rare and exquisite diamond — first because of the colour, fancy vivid purplish pink, then because of the clarity and the excellent cut and polish, and of course the size — 14.83 carats,” said respected gemstone dealer Elke Berr of Geneva-based Berr & Partners.

Referring to the Christie’s sale, she added, “The purplish red diamond, also very rare, and a really incredible gem, was bought by a Dubai jeweller.

“I think both gems were not only bought for their beauty, but also for investment purposes.”

Marijan Dundek, author of the popular book “Diamonds”, said the sale for an auction record of The Spirit of the Rose, underscored the future importance of Russia as a source of pink diamonds, after the closure of the Argyle mine in Australia, which had been a major origin for pink diamonds.

Named “The Spirit of the Rose” after Vaslav Nijinsky’s ballet, Le Spectre de la rose, the diamond was mined, cut and polished in Russia.BLOG – Extraordinary rarity and beauty propel coloured diamonds to new records in Geneva

Picture courtesy of Berr & Partners