Pink Diamond Sells For Record $10.8 Million During Auction
Posted by Media Outrage on December 1st, 2009
This 5 carat pink diamond went for $10.8 million during an auction.
Via Yahoo:
A rare, 5-carat pink diamond was auctioned off for a record $10.8 million in Hong Kong on Tuesday, putting some shine back into the world’s rare and large stones market which was badly hit by the financial crisis.
The stone, of a “vivid pink” hue and considered near perfect, but not quite flawless, triggered brisk bidding in Christie’s autumn sales of Asian and Chinese art in Hong Kong.
The price smashed the previous record, set 15 years ago in Geneva for a 19.66-carat stone that sold for $7.4 million. The pink gem’s per-carat price of $2.2 million was also the highest ever paid for any diamond at auction, Christie’s said.
“No stone has ever been sold for $2 million a carat, we were used to … a million dollars a carat for colored diamonds but never 2 million,” said Francois Curiel, Christie’s Europe chairman. “This is an absolute record that is not going to be broken for a while I believe.”
The stone, set in a so-called “cushion-cut” ring by famed jewelers Graff Diamonds, was just a quarter the size of the Geneva stone and not quite flawless but the stone’s “vivid pink” is considered near perfect. Curiel described it as a “fabulous pink diamond, probably one of the rarest stones I’ve ever seen.”
While the South African-mined diamond isn’t quite rated flawless given minor blemishes, Christie’s said that these could be removed by minor repolishing.
Christie’s has a track-record of putting rare polished stones up for sale in Asia, given its confidence in the depth of the Asian market for the world’s top gemstones and artwork.
Last May, before the financial crisis began to hurt the global auction market, Christie’s sold a squash-ball-sized, 101.27-carat diamond in Hong Kong for $6.2 million.
Despite this, some major gems have disappointed in Asia, including a 72.22-carat “D” flawless white diamond that failed to hit its reserve price in a Sotheby’s Hong Kong sale last April, falling short of its $10-12 million pre-sale estimate.
While the world’s most expensive jewel ever sold at auction is the “Wittelsbach” blue diamond, a 17th-century deep grayish-blue stone that fetched $24 million last year, top red and pink gemstones are also known for stratospheric valuations.
December 1st, 2009 at 6:17 pm
beautiful
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December 1st, 2009 at 6:51 pm
Anyone out there in Cyber world want to buy me this for my Birthday? *cute face*… it’s my birthstone *smile* You’ll be amply awarded.
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December 1st, 2009 at 6:56 pm
LOL @ Ms_Behave!!
That Diamond is gorgeous… just a small portion would do me just fine.
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December 1st, 2009 at 7:00 pm
Looking at that ring makes me horny *libido off the wall* Seriously the bidding starts now….>>>>
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December 1st, 2009 at 7:28 pm
I love colored diamonds and this one is simply magnificent.
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December 1st, 2009 at 7:36 pm
Personally I’m not a fan of colored diamonds..
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December 1st, 2009 at 7:48 pm
I bought it, I thought it was a steal for that price.
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December 1st, 2009 at 9:11 pm
1st of all, its a South African diamond. Why isnt the $ going towards the South Africans. See thia is the type of shit im talking about. White going to mine & a country thats nor even theres, laboring Africans for a few bucks just to get rich off of the continents own. This bothers me. A lot
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December 1st, 2009 at 11:01 pm
[...] Damn! Now THAT’s a diamond. [...]
December 1st, 2009 at 11:01 pm
It is a cute diamond. Must be nice.
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December 2nd, 2009 at 1:01 am
Yeesh.
Don’t really like color diamonds either.
That thing’s gargantuan…and downright gaudy.
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December 2nd, 2009 at 1:50 am
Tiger Woods might have to buy it from that guy in Hong Kong for his wife. lol
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December 2nd, 2009 at 2:04 am
LMAO! @ Ali
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December 2nd, 2009 at 2:44 am
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December 2nd, 2009 at 3:23 pm
Here is another view… this ring is BEAUTIFUL!!!… Given the fact that she has beaten the melanin out of tiger, she better get on her knees and act like she’s on an eternal prayer marathon,lol… Now Tiger can invest in this diamond to use as a ‘guard ring’ adornment,lol.
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December 3rd, 2009 at 10:24 pm
@jodi: I agree. The money should go to the ppl of S Afr.
The minerals and oil in S Afr needs to stop beng owned and controlled by europeans!
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December 4th, 2009 at 7:00 am
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December 6th, 2009 at 11:34 pm
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