A 18.96-Carat ‘Pink Legacy’ Diamond Expected to Fetch US$50M
By
Fang Block
Sept. 25, 2018 2:34 p.m. ET
The fancy vivid pink diamond, weighing just under 19 carats, is expected to sell between US$30 million and US$50 million.ILLUSTRATION: CHRISTIE'S IMAGES LTD. 2018
Christie’s will spotlight another fancy vivid pink diamond in its jewelry auction in Geneva on Nov. 13, following the US$32.5-million sale of a pink diamond in Hong Kong last November.
This time, the auction house is aiming to realize a price between US$30 million and US$50 million for the 18.96-carat rectangular gem, known as “The Pink Legacy.”
The gem is the largest fancy vivid pink diamond Christie’s has ever offered at its auctions, the company said in a news release. It is rare for a pink diamond to weigh more than a carat.
The Gemological Institute of America has awarded “The Pink Legacy” its highest diamond color designation, “vivid,” meaning the stone is saturated and displays the optimum hue. It is also graded internally as very pure, which is extremely rare since the pink color is formed by pressure and slippage of the crystal lattice. The process typically causes imperfections in the stone, according to Christie’s.
“Pink diamonds of any size and depth of color have always had a special allure even among knowledgeable industry members. The 18.96-carat emerald cut pink diamond is among the rarest of all gemstones,” Tom Moses, executive vice president at Gemological Institute of America, said in a statement via Christie’s.
Additionally, the pink diamond has a prominent pedigree, having descended from the Oppenheimer Family, one of the most wealthy South African families that controls De Beers, the world’s leading diamond mining and retail company, and Anglo American Corp., the world's largest producer of platinum.
“Its exceptional provenance will no doubt propel it into a class of its own as one of the world’s greatest diamonds,” Rahul Kadakia, international head of jewellery at Christie’s, said in the release.
Only four vivid pink diamonds of over 10 carats have ever been offered for sale at auction, according to the company.
In November 2017, Christie’s sold “The Pink Promise,” an oval-shaped, 14.93-carat fancy vivid pink diamond in Hong Kong for US$32.5 million. Its price per carat, at US$2.2 million remains a world record at auction.
In November 2015, “The Sweet Josephine,” a 16.08-carat fancy vivid pink diamond was sold for US$28.5 million at a Christie’s auction in Geneva.
The Pink Legacy will be shown in Hong Kong (Sept. 28-30), London (Oct. 4-7 and Oct. 12-15), New York (Nov. 2-5), and at the Four Seasons Hotel des Bergues, Geneva (Nov. 9-13) before it goes under the hammer in that city.
