Outlook for magnificent diamonds market robust despite worries over global economy
September 2015 – Christie’s International has announced the largest cushion-shaped Fancy Vivid Pink diamond to be offered for sale at auction, continuing the firm’s long tradition of presenting extraordinary jewels to the global market.
The 16.08 carat stone is estimated at US$23-28 million and will be featured in Christie’s flagship Magnificent Jewels auction on November 10, 2015 in Geneva.
The diamond is set as a ring, with a double row of pavé-set white diamonds which surround and highlight the main stone, with a third row of small pink diamonds underneath. The band is comprised of small circular-cut white diamonds set in platinum.
October marks the start of an international tour of the diamond to Christie’s locations around the world, starting with Hong Kong, and continuing to New York and London prior to the exhibition and sale in Geneva (see tour calendar below).
In the realm of natural coloured diamonds, those of a distinct pink hue are the most sought-after among gem connoisseurs.
While most pink diamonds exhibit a colour modifier like purple, orange, brown or grey, the 16.08 carat diamond to be offered at Christie’s shows absolutely no trace of a secondary colour, making it exceedingly rare and attractive.
In addition the 16.08 carat Fancy Vivid Pink diamond classifies as a Type IIa diamond, which contains little if any nitrogen and accounts for less than 2 percent of all gem diamonds.
The stone’s even colour 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 100,000 diamonds possesses a colour 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 10 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 10 carats have appeared for sale.
“As large and rare coloured diamonds of this calibre 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.
An historic level was reached in the international diamond market in December 2009 when Christie’s Hong Kong sold The Vivid Pink, a cushion-shaped fancy vivid pink diamond of 5.00 carats for U$2,155,332 per carat, setting a new per-carat record price for any pink diamond.
Since that time, per-carat prices for top-quality pink diamonds have continued on a steady upward climb.
Among the major pink diamonds that have set new auction benchmarks in price over the last five years, Christie’s has sold The ‘Princie ‘Diamond, a cushion-shaped fancy intense pink diamond of 34.65 carats for $39.3 million; The ‘Perfect Pink’, a rectangular-cut fancy intense pink diamond of 14.23 carats for $23.2 million; and The ‘Martian Pink’, a brilliant-cut fancy intense pink diamond ring of 12.04 carats by Harry Winston for $17.4 million.
Earlier this year, a rectangular-cut fancy intense pink diamond ring of 9.07 carats sold for $12.6 million at Christie’s Hong Kong.
Some of the world’s most famous and historic gems are pink diamonds, including the ‘Darya-i-Nur’ of approximately 182 carats, part of the Iranian Crown Jewels; the ‘Hortensia’ of 20.53 carats, formerly
part of the Crown Jewels of France and today to be admired at the Louvre; and the ‘Williamson’ of 23.60 carats, belonging to Her Majesty the Queen of England.
Global Tour Dates and Locations
Christie’s Hong Kong, 22nd Floor, Alexandra House, 18 Chater Road Central
2 October 10am – 5:30pm
3 October 11am – 5pm
4 October 11am – 5:30pm
Christie’s New York, 20 Rockefeller Plaza
16 October 12pm – 6pm
17 October 10am– 6pm
18 October 10am – 6pm
19 October 10am – 5pm
Christie’s London, King Street
26 October 2pm – 6pm
27 October 2pm – 6pm
Christie’s Geneva, Four Seasons Hotel des Bergues
6 November 10am – 6pm
7 November 10am – 6pm
8 November 10am – 6pm
9 November 10am – 6pm
10 November 10am – 12pm
