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Pink is a Premium at Jewelry Auctions
Rare pink diamonds are once again making eye-catching appearances at prominent jewelry auctions worldwide, and it’s not just a color for Valentines Day gifts. On September 20th, 2012 at Sotheby’s New York’s Important Jewels auction, a GIA graded 5.08 ct. round fancy pink diamond doubled its $700,000 estimate with a final price of $1,426,500. And last year on August 8th, a 12.27-carat modified-rectangle brilliant-cut Majestic Pink Diamond boasted a fixed sale of $7.85 million.
Fancy light pink 5.08-carat diamond. (Image Courtesy Sotheby’s)
On October 10th, 2012 in New York, Christies auctioned a pear-shaped fancy-light pink diamond weighing approximately 10.52 carats, flanked on both sides by a tapered baguette-cut diamond, and mounted in platinum. Determined to be a type IIa – which is the most chemically pure type of diamond – by a GIA diamond grading report, its pre-auction estimate was $900,000-$1,100,000. The diamond actually sold for $2.21 million, demonstrating the typical competition for these stones.
10.52-carat pear-shaped fancy light pink diamond (Image courtesy of Christie’s Images LTD. 2012)
On October 10th, 2012 in New York, Christies auctioned a pear-shaped fancy-light pink diamond weighing approximately 10.52 carats, flanked on both sides by a tapered baguette-cut diamond, and mounted in platinum. Determined to be a type IIa – which is the most chemically pure type of diamond – by a GIA diamond grading report, its pre-auction estimate was $900,000-$1,100,000. The diamond actually sold for $2.21 million, demonstrating the typical competition for these stones.
Other notable high-priced pink diamonds include the most expensive gem ever sold at auction, the Graff Pink (sold in Geneva in 2010 for $46.2 million), and the Perfect Pink (sold in Hong Kong in 2010 for $23.2 million).
For more on why fancy-color diamonds tend to perform spectacularly at jewelry auctions, go here: Why are the finest fancy-color diamonds found at auction