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IN THE PRESS


Sotheby’s sets a world auction record for a diamond and any jewel

Sotheby's sets a world auction record for a diamond and any jewel

18 November 2010

Sotheby’s Geneva , in its 16 November 2010 Magnificent Jewels Sale, set a world auction record for any diamond and any jewel when it sold an exceptionally rare and truly magnificent Fancy Intense Pink diamond of the purest, vibrant hue, weighing 24.78 carats for CHF 45,442,500 /US$ 46,158,674.

Sotheby's sets a world auction record for a diamond and any jewel

Four bidders competed for the gem which was one of the most important and beautiful gemstones ever to come up for auction and had last been on the market 60 years ago. The diamond was finally bought by Patti Wong, Sotheby’s Chairman in Asia, bidding on behalf of Laurence Graff.

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% 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 some 60 years ago from Mr. Harry Winston. This sublimely beautiful stone was offered for sale with a pre-sale estimate of US$27-38 million (CHF).

www.sothebys.com

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