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Nov 13, 2018: Rare pink diamond could fetch record price

SWITZERLAND - A large pink diamond weighing in at almost 19 carats could fetch a record price of between US $30-50 million at auction in Geneva.

The rectangular cut Pink Legacy is rated “vivid”, the highest rating for a diamond’s colour, and weighs 18.96 carats, making it the largest fancy vivid pink diamond Christie’s has ever offered for auction.

The incomparable gem once belonged to the Oppenheimer family, who built De Beers into the world’s biggest diamond trader.

“Its exceptional provenance will no doubt propel it into a class of its own as one of the world’s greatest diamonds,” said Rahul Kadakia, international head of jewellery at Christie’s.

“To find a diamond of this size with this colour is pretty much unreal,” Kadakia said. “You may see this colour in a pink diamond of less than one carat. But this is almost 19 carats and it’s as pink as can be. It’s unbelievable.”

Only four vivid pink diamonds of over 10 carats have ever been offered for sale at auction, with a record price per carat set in 2017 when Christie’s Hong Kong sold The Pink Promise, an oval-shaped diamond of just under 15 carats, for US $32,480,500 – a whopping $2,175,519 per carat.

A successful sale can not be guaranteed, however. A 37.3-carat cushion-shaped stone known as the Raj Pink, notable for its colour and clarity, was among several major jewels that failed to find a buyer last year.

The Pink Legacy will be shown in Hong Kong, London and New York before the auction date.

#22753 Published: 10/15/2018

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