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The Eternal Pink Diamond – a Showstopping event this June at Sotheby’s
At Hard Carbon Inc. we are excited every May when the key auction houses announce their summer jewellery auctions. It is often at this point in the year we look at rare fancy colored diamonds as they go for sale. As experts in the fancy colored diamond industry the summer auctions allow us to gain insight into the market so we can advise our extensive network of clients the best direction for their fancy colored diamond investments. So far, this year doesn’t disappoint! Keep reading to learn more about a historic diamond headed to auction this June.
The leading auction house Sotheby’s announced recently that for their Magnificent Jewels sale on June 8, 2023 they will be auctioning a truly incredible a fancy vivid purplish-pink diamond. Weighing in at a whopping 10.57 carats this diamond is estimated to fetch $35 million USD when the hammer finally drops. The diamond has been given the name ‘The Eternal Pink’, the cushion cut gem is reported to be one of the most vivid pink diamonds to be publicly auctioned. In it’s original uncut state this incredibly diamond was 23.78 carats and was mined from the Damtshaa mine in Botswana by De Beers.
The team at Diacore took an extensive six months and made the decision to fashion the pink diamond into a cushion cut – this attention to detail and craftsmanship paid off. The color of this fancy colored diamonds is a once in a generation find – the facets of the diamond, with the undercurrent of purple, heightens the pink tones into a vibrant pink some are dubbing the same shade as ‘bubblegum’. This internally flawless pink purplish diamond has received the highest possible rating from the Gemological Institute of America.
Pink diamonds have been a marvel of nature for centuries. While most fancy colored diamonds have distinct reasons for their color source, such as trace elements of different chemicals found in their compositions, the pink in pink diamonds remains largely a mystery. The most credible theory is that the pink hue in pink diamonds are created from intense pressure which distorts the diamonds crystal lattice structure. Pink diamonds originate from deep within the earths crust and are brought closer to the earth’s surface by volcanic eruptions – they are then mined after sitting under intense pressure for millions of years.
Pink diamonds have always held a special place not just in jewellery but in history. These incredible glowing gems have been highly coveted by people in power and have thus been incorporated into some truly historic pieces of jewellery.
The Agra Diamond for example is the world’s fifth-largest pink diamond and was discovered in 15th century India. The diamond was named after the city of Agra, where its owner the Rajah of Gwalior was slain in battle. The Moghul emperor decided to spare the family of the Rajah and to thank him the family gifted him the Agra diamond. He proceeded to wear it in his turban.
The Williamson Pink Star is another stunning example of a pink diamond with historic significance. Discovered by a Canadian geologist (named Williamson, hence its name) it weighs 11.15 carats and is also internally flawless. Also cut and polished by the experts at Diacore, the Williamson Pink Star, was originally a 32.32 carats and is now in the collection of the British Royal Family as Williamson gifted it to Queen Elizabeth II early in her reign.
One of the world’s most spectacular fancy colored diamonds is the pale pink Daria i Noor which was mined from India and one of the largest cut diamonds in the world weighing 182 carats. Originally it was owned by the Kakatiya dynasty, but it was lost to India when Iran invaded in the late 16th century – since then it has been in Iran’s possession and is currently part of the Iranian National Jewels collection kept in the safety of the Central Bank of Iran in Tehran.
As history shows pink diamonds have always been highly sought after and valuable to those in power. A main reason for their vaulted place in history and the value placed on them today is their rarity. The GIA has estimated that less than 3% are classified as pink and less than 5% of those are considered true pink diamonds. Even the diamonds considered a deeper fancy vivid color they are rarely larger than 1 carat in size. That is why the Eternal Pink going to auction this June is truly a once in a generation opportunity. The combination of it’s incredible color of Fancy Vivid Purplish-Pink, carat size and internally flawless clarity may just make this the most important fancy colored pink diamond ever to come to auction.
Experts at Sotheby’s are beyond excited as they travel this diamond to key markets all over the world ahead of the June auction. After travelling to Hong Kong, Taipei, Singapore, Geneva and Dubai the diamond will head to New York as its final destination. The estimate on this diamond has already broken records as the per carat estimate is higher than any pink diamond before.
At Hard Carbon Inc. our team of experts have decades of experience in the fancy colored diamond market and have advised clients around the world on the best direction for their investments. Fancy colored diamonds are one of the best investments a person could make – easy to transport and store, fancy colored diamonds should be a key part of any serious investment portfolio. Whether a new or seasoned investor give us a call us today to get the best advice on the fancy colored diamond market.