Hot on the heels of the sale of a 102.39-carat perfect white diamond for US$15.7 million last week, Sotheby’s announced that it will offer another rarity: the world’s largest vivid purple-pink diamond.
Mined and cut by ALROSA, one of the world’s leading diamond producers, the 14.83- carat Fancy Vivid Purple-Pink Internally Flawless diamond was faceted from the largest pink rough diamond ever mined in Russia.
The ultra-rare gem is named after a celebrated Russian ballet, The Spirit of the Rose, and will be offered in Sotheby’s ‘Magnificent Jewels and Noble Jewels’ auction in Geneva on 11 November, with an estimate of US$ 23-38 million (CHF 21 – 35 million).
Driven by a limited supply and rising demand, prices for top-quality large pink diamonds have increased sharply over the past decade.
The appearance of The Spirit of the Rose at auction also coincides with the expected closure, due to depletion, of the mine that produces the world’s largest supply of pink diamonds, at the end of the year.
Gary Schuler, Worldwide Chairman of Sotheby’s Jewellery Division, said: “The occurrence of pink diamonds in nature is extremely rare in any size. Only one per cent of all pink diamonds are larger than 10 carats and only four percent of all pink diamonds are graded ‘Fancy Vivid’ and display a rich, vivid colour. Having the opportunity to offer a large polished pink diamond of over 10 carats and with the richness of colour and purity of The Spirit of the Rose, is therefore truly exceptional. The diamond’s character and immense presence is further enhanced by its perfect cut and oval shape: the numerous facets and shades of pink dance in front of your eyes in a mesmerizing way. It is a natural wonder, steeped in Russia’s century-long diamond tradition and cultural heritage.”
Benoit Repellin, Head of Sotheby’s Geneva ‘Magnificent Jewels’ auction, said: “Pink diamonds, perhaps more than any other coloured diamond, have captured the imagination of collectors for centuries, making up 5 out of the 10 most valuable diamonds ever sold at auction. These exceptional sales, all realised in the last decade are a testament to the growing appreciation, and awareness of the great scarcity of these natural treasures around the world, and with the supply of these beautiful stones becoming ever more limited, they are likely to continue to become even more prized.”