Each November, leading auction houses Sotheby’s and Christie’s hold back-to-back auctions on consecutive days, with each house auctioning a collection of exquisite, rare and collectible gems and jewellery. Often, records will fall at these auctions; highest diamond prices per carat and the highest price ever paid for a single diamond are just some of the records previously broken in the annual November auctions.
So, for those in the know, it should come as no surprise that a new diamond price record was broken in Geneva on Tuesday 13thNovember, as Christie’s offered a spectacular 18.96ct fancy, vivid pink diamond for auction.
Previously owned by the Oppenheimer family (former owners of De Beers), the magnificent rectangular cut, VS1 clarity Pink Legacy diamond was bought by Harry Winston for a record-breaking $50.375 million. Immediately renamed to the “Winston Pink Legacy” by its new owners, the diamond was discovered in South Africa over 100 years ago.
With a per carat price of $2.6million, the Winston Pink Legacy broke the previous per carat price for a fancy vivid pink diamond ($2.15million), set at last November’s Christie’s auction with the sale of the 14.93ct Pink Promise diamond.
Pink diamonds are exceptionally rare and when they are discovered, the intensity of colour (fancy vivid) is hardly found in small 1ct diamonds, let alone in diamonds of close to 19cts in size, as is the case with the Winston Pink Legacy.
Overall, pink and blue diamond prices have increased in the third quarter of 2018 and with Australia’s Argyle mine (the most reliable supply of pink diamonds in the world) set to close its doors in 2021, investors are looking more closely at pink diamonds than ever before.
If you are in the market for pink diamonds in South Africa, we have two natural, GIA-certified pink diamonds. Available only for serious investors, give us a call if either of these two diamonds pique your interest.