Diamond Records

The Orangethe pink star

The colour diamond industry was rocked by record-shattering auction results out of Geneva this week.

At Tuesday’s Magnificent Jewel auction by Christie’s International,  the docket was highlighted by the sale of an almond-shaped fancy vivid orange diamond simply called “The Orange”.

Industry analysts had assumed the stone would sell for around $21 million, a record price for an orange diamond.   Instead, it sold for $35 million, setting two records simultaneously.    At $2.4 million per carat, it was the highest per carat price ever paid for a colour diamond at auction.   It was also the highest total ever paid for an orange diamond in history

The diamond was purchased by a private collector who was present at the time of the auction.   At this time, this person has requested to remain anonymous.

Not to be outdone, Sotheby’s auctioned off “The Pink Star” on Wednesday.   The round 59.60 carat pink stone was graded at Type IIa, a rarity for that colour of diamond.  Industry analysts considered the internally flawless vivid fancy pink stone to be the most rare diamond ever put up on the block.

Once again, the early estimates proved to be conservative as it was assumed The Pink Star would sell at around $60 million.  The diamond ended up selling at $83.2 million, the highest total ever paid for any gem (colour diamond or otherwise) in history.   Details on the buyer have yet to be released.

Update:

Sotheby’s has said that the buyer of “The Pink Star” was New York diamond cutter Isaac Wolf, He plans on renaming the stone “The Pink Dream”.

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