Laurence Graff on why he smashed the price record for a pink diamond.
Graff Diamonds chairman Laurence told Professional Jeweller that he smashed the price record for a pink diamond because “it was the finest I’ve ever seen in my life”.
The leading diamond jeweller explained that once he saw the 24.78ct fancy intense pink diamond he simply “couldn’t let it go”.
Graff battled against three other buyers at an auction at Sotheby’s in Geneva to secure the diamond which he paid US$46.2 million (£34.2m) for. He has since renamed the diamond as The Graff Pink.
The sale of the diamond set a world auction record for any diamond or jewel sold. The absolute scarcity of fine pink diamonds exceeding 20 carats made the appearance at auction of this stone a landmark moment in the world of fine gemstones.
The emerald-cut stone, mounted as a ring, had been assessed to be a member of the rare and coveted type IIa classification which comprises less than 2 percent of all of the world’s gem diamonds. This stone came to the market from a private collection, and has not appeared on the open market since it was purchased 60 years ago from Harry Winston.