Diamond may sell for US$15m
Source: Agencies |
March 4, 2011, Friday
|
Print Edition
Print Edition
A PURPLISH-PINK diamond in excess of 10 carats could fetch as much as US$15 million when it is sold at an auction next month, according to Christie's.
The 10.09 carat Fancy Vivid cushion-cut is expected to be the highlight of the sale on April 12 in New York.
Prices for large pink diamonds have skyrocketed at auctions in recent years, with four pink diamonds going for more than US$1 million per carat since late 2009, Christie's said.
Demand and increasing rarity have driven up prices, making them the most expensive colored diamonds on the market.
"Collector demand for large colored diamonds has never been stronger, especially where pink diamonds of this size and quality are concerned," said Rahul Kadakia, head of jewelry at Christie's in New York.
The auction house set a per-carat record for any diamond at auction in December 2009 when the Vivid Pink 5-carat cushion cut diamond sold for more than US$2.1 million per carat in Hong Kong.
Fewer than 10 percent of all pink diamonds mined weigh more than .20 carats, Christie's said, and even fewer bear such deep color saturation and brilliance as the gem that will be auctioned.
Pink diamonds get their color through a rare, naturally occurring slippage of the crystallographic lattice in the stone while it is forming deep within the Earth's crust.
The 10.09 carat Fancy Vivid cushion-cut is expected to be the highlight of the sale on April 12 in New York.
Prices for large pink diamonds have skyrocketed at auctions in recent years, with four pink diamonds going for more than US$1 million per carat since late 2009, Christie's said.
Demand and increasing rarity have driven up prices, making them the most expensive colored diamonds on the market.
"Collector demand for large colored diamonds has never been stronger, especially where pink diamonds of this size and quality are concerned," said Rahul Kadakia, head of jewelry at Christie's in New York.
The auction house set a per-carat record for any diamond at auction in December 2009 when the Vivid Pink 5-carat cushion cut diamond sold for more than US$2.1 million per carat in Hong Kong.
Fewer than 10 percent of all pink diamonds mined weigh more than .20 carats, Christie's said, and even fewer bear such deep color saturation and brilliance as the gem that will be auctioned.
Pink diamonds get their color through a rare, naturally occurring slippage of the crystallographic lattice in the stone while it is forming deep within the Earth's crust.
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