The $80 billion mined-diamond industry is at a tipping point as man-made diamonds are offering consumers a new option. When consumers are given a choice between buying a 1 carat […]
Sotheby’s will be presenting ‘The Raj Pink’, the world’s largest known Fancy Intense Pink diamond, weighing 37.30 carats. It will headline the auction house’s Magnificent Jewels and Noble Jewels sale in Geneva on November 15.
“The discovery of any pink diamond is exceptional, but the Raj Pink’s remarkable size and intensity of colour places it in the rarefied company of the most important pink diamonds known,” says David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division.
Fancy diamonds are considered to be true works of art, comparable only to priceless paintings and other items that elude conventional valuation standards: their value is the result of a series of factors determining a unique price that cannot be obtained with a sterile calculation.
The forecasts by the World Gold Council, in the Metals Focus Database of Mines, suggest irreversible trends: extracting gold, just like extracting diamonds, will be increasingly costly and difficult.
Sotheby’s sold a pair of pear-shaped diamond earrings at a hammer price of about $51 million Tuesday, though the 14.54-carat flawless Fancy Vivid Blue diamond that was the auction’s highlight fell short of the expected range. Apollo sold for $42.1m while Artemis went for $15.3m. But the earrings sold some way below their estimated prices of $70m.
The 16-carat "Artemis Pink" is near identical in shape. It is also one of the world’s most "chemically pure" diamonds, according to the Gemological Institute of America, which experts say gives the stone such a high degree of transparency.