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Sotheby’s to Auction $38 million Rare Pink Diamond

24.78 Carat Fancy Intense Pink Diamond
24.78 Carat Fancy Intense Pink Diamond

A rare pink diamond, last seen on the market some 60 Years ago, that goes on sale next month could fetch up to $38 million, according to auctioneers Sotheby’s. The 24.78 carat Fancy Intense Pink Diamond mounted on a ring comes from a private collection, the auction house said. The diamond was last sold by New York jeweler Harry Winston and has a classic emerald cut with gently rounded corners, the company said.

The pink diamond was given an IIa classification, which places it in an elite category comprising only 2 per cent of all of the world’s gem diamonds. During my 35-year career at Sotheby?s I have had the opportunity to examine many magnificent and rare gemstones and, put simply, this stone is one of the most desirable diamonds I have ever seen, said David Bennett, chairman for Europe and the Middle East at Sotheby?s international jewellery department.

Blue, pink and green coloured diamonds are currently the most sought-after gemstones in auctions, according to the auction house. The diamond went on exhibition worldwide starting in Hong Kong and will go up for auction November 18 in Geneva, when Sotheby’s estimates it could sell for $27-38 million.

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UPDATE: Video of Rare Pink Diamond

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Sotheby’s to Auction $38 million Rare Pink Diamond was last modified: October 24th, 2011 by Arsa

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