RAPAPORT… Alrosa’s Spirit of the Rose has achieved the highest price for any purple-pink diamond, selling to an anonymous bidder for nearly $27 million at Sotheby’s Geneva.
The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type II stone, named for the famous Russian ballet, sold for $26.6 million, beating its low estimate of $23 million. The diamond, which fetched $1.8 million per carat, led the Magnificent Jewels and Noble Jewels live auction Wednesday, which garnered $52.2 million in total, Sotheby’s said.
The purchase comes on the heels of the recent closure of Rio Tinto’s Argyle mine in Australia, which produced more than 90% of the world’s pink diamonds. Prices for stones of that color are likely to soar in the coming years, experts have noted.
“The Spirit of the Rose caught the imagination of everyone who had the chance to see it,” said Benoit Repellin, head of the Sotheby’s Geneva Magnificent Jewels auction. “With its size, beautiful color, perfect cut and oval shape, it is a wonder of nature, steeped in Russia’s century-long diamond tradition and cultural heritage. It fully deserves the price achieved tonight, which is also testament to the growing appreciation and awareness of the great scarcity of pink diamonds around the world.”
Sotheby’s also saw strong prices for white diamonds at the auction, with 10 out of 11 stones on offer selling above their estimates. A cushion-shaped, 18.03-carat, D-color, flawless, type IIa diamond fetched $1.9 million against a high estimate of $1.1 million, while a pear-shaped, 102.41-carat, light-brown diamond of VVS2 clarity brought in $1.3 million, exceeding its high valuation.
Noble jewels were in demand as well, Sotheby’s said, led by a Colombian emerald and diamond parure from the collection of the first Marquis de Guirior, viceroy of New Granada and viceroy of Peru. That piece also surpassed its high estimate, fetching $1.1 million.
Image: The Spirit of the Rose diamond. (Sotheby’s)
$27M Pink Diamond Sets Record at Sotheby’s
The Bottom Line
- The Spirit of the Rose, a 14.83-carat fancy vivid purple-pink diamond, sold for $26.6 million, exceeding its $23 million low estimate and achieving $1.8 million per carat.
- The Sotheby’s Magnificent Jewels and Noble Jewels auction totaled $52.2 million, with strong results for white diamonds and historic noble jewels.
- The closure of Rio Tinto’s Argyle mine, which supplied over 90% of pink diamonds, is expected to drive prices higher for pink diamonds in the future.
More Stories
US Holiday-Spending Growth to Outpace Last Year’s – Bain
Consumer outlay is likely to rise 4.5%, a slightly higher increase than in previous seasons.
London Diamond Bourse Touts ‘Synthetic Diamond’ Terminology
Exchange encourages UK trade to use term for grown stones, saying it is more accurate and internationally accepted.
Ruby and Diamond Earrings to Headline Sotheby’s Hong Kong Auction
Lot will be on offer for $2.6 million at High Jewelry sale.
