‘Diamonds are bouncing back’ Christie’s says as pink stone goes for £14.5m

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The sale of a pear-shaped pink diamond for £14.44 million has prompted Christie’s to claim that “diamonds are bouncing back”.

Rahul Kadakia, international head of jewellery at Christie’s, said: “It made a great price for a really fabulous pair of diamonds. Very healthy prices will give a great boost to the white diamond market.”

pink-diamondThe diamond went on Tuesday to an Asian collector bidding by telephone at an auction marked by “healthy prices”, Christie’s said.

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The top lot at its semi-annual Geneva sale, the stone weighs 9.14 carats and is graded fancy vivid pink, the highest possible colour grading. Its pre-sale estimate was between about £13 million and £15 million, Reuters reported. In the end the stone went for £14.44 million, achieving the second highest price for a pink pear-shaped diamond sold at auction.

In May, rival Sotheby’s sold a pear-shaped vivid pink diamond of 15.38 carats for £24.6, setting a world record.

Christie’s, celebrating its 250th anniversary, netted nearly £78 million with 77% of 217 lots sold, against £88 million a year ago. Several major gems, including a Colombian emerald and diamond ring by New York jeweller David Webb, stalled on the block, according to Reuters.

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