This article was originally written by Kristopher Fraser for Women’s Wear Daily and published on March 29, 2023.
Diamonds are an auction lover’s best friend.
Sotheby’s is preparing to reveal one of the most significant pink diamonds to ever come to auction. Pink diamonds, regardless of size or color, have a strong reputation due to their rarity. However, “The Eternal Pink” diamond is considered one of the most reputable diamonds in the jewelry industry.
Described by Sotheby’s as the quintessential pink diamond, the stone is 10.57 carats and is referred to as the Internally Flawless Fancy Vivid Purplish Pink Diamond. The diamond possesses a distinct color and brightness, with an aura that has been described by diamond experts as glowing to the human eye. It is considered the most vivid pink diamond to ever come to market.
The estimate of the diamond’s price is $35 million, and the stone carries the highest price per carat estimate ever placed on any diamond or gemstone. The gem challenges the price per carat record for any diamond or gemstone sold at auction, set by The Williamson Pink Star, an 11.15-carat Fancy Vivid Pink Internally Flawless diamond, which sold at Sotheby’s Hong Kong in October 2022 for $5,178,124 per carat.
The gem will officially be unveiled and on view in Hong Kong from Saturday to April 7 to coincide with the 50th anniversary celebrations of Sotheby’s presence in Asia. The diamond will then go on a world tour with exhibitions scheduled in Dubai, Singapore, Shanghai, Taiwan and Geneva. Following the tour, The Eternal Pink will be the main attraction at Sotheby’s Magnificent Jewels auction in New York.
In a statement, Quig Bruning, head of Sotheby’s Jewelry, Americas, said, “This color is the most beautiful and concentrated shade of pink in diamonds that I have ever seen or has ever come to market. Sotheby’s is honored to behold this exceptional jewel and present it to the world this June, as it makes its grand debut on the auction block, joining the ranks of the most important diamonds in history. The Eternal Pink’s immense presence and great rarity make it comparable to ultimate masterpieces of art — far rarer than a Magritte or a Warhol. Combined with its exceptional clarity, it is not surprising that it would command the highest per-carat pre-sale estimate for any diamond to date.”
The 23.78-carat rough that The Eternal Pink was produced from was mined by De Beers at the Damtshaa mine in Botswana and over a period of six months was fashioned into a cushion cut by Diacore’s team of artisans.
Of all the diamonds in the world submitted to the Gemological Institute of America, less than 3 percent are classified as colored diamonds. Pink is one of the rarest diamond colors to occur naturally. Of all existing color grades, “Fancy Vivid” is the highest possible for a colored diamond.
Sotheby’s has a known history of selling pink diamonds. The auction house sold the record-breaking CTF Pink Star, a 59.60-carat oval mixed-cut Fancy Vivid Pink Internally Flawless diamond, for $71.2 million, a world auction record for a diamond and any gemstone or jewel.