Gem Diamonds Earns Record Price for 13-Carat Pink in Antwerp

Rough Market
14/03/2019 15:04

Gem Diamonds Ltd. has sold a 13.33 carat pink diamond on tender in Antwerp for $8,750,360. The price achieved sets a new high on a dollar per carat basis for a Letšeng diamond, at $656,933. For the sake of comparison, over the course of the 2018, Gem recovered a 138.28-carat white diamond which achieved US$60,428 per carat - the highest dollar per carat for a white rough diamond during the year - and a a 4.06 carat, pink diamond that earned US$64,067 per carat - the highest price per carat achieved during 2018. 

A typical rough diamond of this nature will yield about 40% of its rough weight, in this case yielding approximately 5.3 carats. Last year, a 5.03-carat VS1 clarity fancy pink diamond sold for $2.9 million, or $583,551 per carat, setting a new per-carat record at auction, so one would assume the buyer's confidence is high that Gem's stone will yield a much deeper vivid color with higher clarity. A closer like-for-like comparison, in 2015, a Fancy Vivid Pink rectangular-cut diamond weighing 5.18 carats sold for $10,709,443, or just over $2 million per carat. In 2009, "The Vivid Pink", a Fancy Vivid Pink diamond weighing 5.00 carats sold for $10,776,660, or $2.16 million per carat (see 10 of Christie's top pink diamonds here). To provide some perspective on the ever-increasing prices earned for vivid fancy colored diamonds, in 2014, a 19.54-carat fancy pink rough diamond recovered and cut by De Beers was turned into an 8.41-carat, internally flawless, fancy vivid purple-pink diamond ring, which sold for $17,768,041 or $2.1 million per carat. In November of 2018, the Pink Legacy, an extraordinary 18.96-carat Fancy Vivid Pink diamond, was sold for $50 million, or over $2.6 million per carat, at the Magnificent Jewels auction at Christie’s in Geneva.