Pink Diamond Shatters Price Record in London, Blue Goes For $13.8M in HK

04/10/2018 10:45

A Fancy Pink diamond weighing 5.03 carats, VS1 clarity, sold for more than $2.9 million, or $583,551 per carat at Bonhams London Fine Jewelry sale last week (26 September), setting a new auction world record for a Fancy Pink diamond per carat. The previous auction record for a Fancy Pink diamond held by Sotheby's Geneva, May 2016, was $528,021 per carat. The category of "Fancy Pink" should not be confused with "Fancy Vivid Pink" diamond - the record for which currently belongs to "The Pink Promise", an oval-shaped Fancy Vivid Pink diamond of just under 15 carats, which Christie's sold in Hong Kong last year for $32,480,500 - an incredible $2,175,519 per carat. This record could also fall in November.

The exceptional price achieved was, "due to a number of factors: its size – it's exceptionally rare to see a pink over five carats on the market today; its even color saturation and its extraordinarily elegant cut,' said Emily Barber, Director of Jewelry at Bonhams UK. "Large pink diamonds are continuing to increase in value year on year. They are highly desirable to discerning collectors given their rarity and limited supply. A diamond like this would definitely be one of the most prized pieces in an important jewelry collection."

Not to be outdone, a week later across the globe, a 5-carat fancy vivid blue VS2 diamond sold for $13.8 million - netting a crisp $2.76 million per carat - at Sotheby’s Hong Kong Magnificent Jewels and Jadeite jewelry sale. The step-cut fancy vivid blue diamond set in an 18-karat white gold ring and flanked with baguette diamonds fell within its pre-sale estimate of $12.5 to $15.3 million.