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Sotheby’s sells pink diamond for a record $17.7 million

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The auction house made history last week – October 7 – in Hong Kong, when it broke the record for highest price for a diamond.

The auctioneers sold a rare flawless pink diamond during the Magnificent Jewels sale. The pear-shaped 8.41 carat stone was expected to sell for $15.5 million, but ended up bringing in $17.77m, which is $7m more than the previous record achieved by a fancy vivid pink diamond, sold for approximately $10.7m in Hong Kong in November 2009, according to Sotheby’s.

“The stone had attracted keen competition before fetching a wonderful price of HK$137.88m (US$17.77m) and setting a world auction record for a fancy vivid pink diamond,” said Quek Chin Yeow, deputy chairman of Sotheby’s Asia, in a press statement.

According to the auction house, internally flawless clarity is rare in pink diamonds. The combination of its beauty and colour grading made the stone ‘amongst the rarest and most desirable of coloured diamonds ever seen at auction.’

Although the buyer’s identity was not disclosed, we cannot imagine what one would do with such a stunning and valuable stone.

 

 

Image: Sotheby’s

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