Auction house Christie’s has announced it will be selling the largest cushion-shaped fancy vivid pink diamond ever to be auctioned in November.
The 16.08 stone will be showcased around the world on an international tour which will begin in October. The tour will start in Hong Kong, continuing to New York and London prior to the exhibition and sale in Geneva.
The rare stone is estimated at US$23-28 million (£15-18m) and will be auctioned at Christie’s flagship Magnificent Jewels auction in Geneva on November 10.
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.
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’ colour grading from the Gemological Institute of America (GIA). The fact that only one in one hundred thousand diamonds possess a colour deep enough to qualify as ‘Fancy’ underscores this stones 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 ten carats are virtually unheard of. In fact, fewer than 10% 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 ten carats have appeared for sale.
Rahul Kadakia, Christie’s International head of jewellery, says: “As large and rare coloured diamonds of this caliber 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.”
Christie’s global tour dates and locations are as follows:
Christie’s Hong Kong, 22nd Floor, Alexandra House, 18 Chater Road Central: October 2 10am – 5:30pm, October 3 11am – 5pm and 4 October 11am – 5:30pm
Christie’s New York, 20 Rockefeller Plaza: October 16 12pm – 6pm, October 17 10am– 6pm, October 18 10am – 6pm and October 19 10am – 5pm
Christie’s London, King Street: October 26 2pm – 6pm and October 27 2pm – 6pm
Christie’s Geneva, Four Seasons Hotel des Bergues: November 6 10am – 6pm, November 7 10am – 6pm, November 8 10am – 6pm, November 9 10am – 6pm and November 10 10am – 12pm.
Auction: Tuesday, November 10 2015 at 7:30pm GMT
Photo credit: Christies