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“Vivid pink” diamond sells for record $10.8 million

A ring set with "The Vivid Pink", a 5.00 carat cushion-shaped Fancy Vivid Pink Potentially Flawless diamond, is displayed at a preview by au Reuters – A ring set with “The Vivid Pink”, a 5.00 carat cushion-shaped Fancy Vivid Pink Potentially …

HONG KONG (Reuters Life!) – 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…

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This entry was posted on December 2, 2009 by in Random and tagged , , , , , , , .

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