The Pink Star Diamond Fetches World Auction Record Of $83 Million

The 59.6-carat Pink Star diamond lived up to its hype by selling for a world record price of approximately $83.4 million at Sotheby’s Geneva Magnificent Jewels sale Wednesday.

When introducing the internally flawless fancy pink vivid diamond, David Bennett, chairman of Sotheby’s Jewellery Division in Europe and the Middle East, called it “one of the most remarkable gems to ever appear at auction.”

Bidding opened at 48 million Swiss francs and gradually climbed to 64 million Swiss francs. After a pause it quickly climbed to 67 million francs ($73.2 million), shattering its $60 million high estimate. Nervous laughter could be heard on Sotheby’s live feed as the bidding slowly pushed up to the winning bid 68 million Swiss francs. Commission fees pushed the final total to more than 76.3 million Swiss francs ($83.4 million).

The diamond is graded as Type IIa, which is rare for any pink diamond, much less one of this size and color. Cut over a period of two years, The Pink Star is more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for a diamond and any gemstone or jewel at $46.2 million, at Sotheby’s Geneva in 2010. The current record price per carat for a fancy vivid pink diamond of $2,155,332 is set by a 5-carat diamond, sold in Hong Kong in January 2009. The current record price for any colored diamond sold at auction is $2,398,151 per carat, for “the Orange,” a 14.82-carat fancy vivid orange diamond that sold a day earlier at Christie’s Geneva Magnificent Jewels auction. The per carat price for the The Pink Star has yet to be released and will be updated.

Cut by Steinmetz Diamonds over a period of nearly two years from a 132.5-carat rough, the diamond was first unveiled to the public in May 2003 as the “Steinmetz Pink.” The stone was first sold privately in 2007 and renamed The Pink Star.

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A Big Pink and a Big Blue Diamond Fetched Big Bucks At Christie’s

Two fancy colored diamonds were the top sellers at Christie’s New York Magnificent Jewels sale Tuesday. Meanwhile, the diamond engagement ring that Kris Humphries gave to Kim Kardashian at the same sale made lots of noise but ended up only having the 12th highest sale price at $749,000.

The top lots among the 389 offered were:

* An 8.77-carat rectangular-cut fancy intense pink VVS1 diamond that sold for more than $6.3 million, or $721,200 per carat (top photo). The buyer was Moussaieff Jewellers, a luxury retail jeweler with stores in London and Geneva.

* A 3.81-carat rectangular-cut fancy vivid blue VS1 diamond that sold for nearly $4 million, or more than $1 million per carat (pictured above). The buyer requested anonymity.

The other top lots are as follows:

* A 25.30-carat rectangular-cut D color VVS1 diamond that sold for more than $3.1 million.

* An 18.28-carat cushion-cut D color VVS2 diamond that sold for more than $2 million.

* A 15.88-carat cushion-cut Kashmir sapphire that sold for more than $1.8 million.

* A 10.75-carat rectangular-cut D color internally flawless diamond that sold for nearly $1.4 million.

* A 17-carat rectangular-cut F color VS1 diamond ring that sold for more than $1.2 million. The ring was part of Diana Dollar Knowles Collection. Knowles, who died March 4 at the age of 95, was a noted San Francisco philanthropist and patron of the arts.

The auction at Christie’s Rockefeller Center headquarters took in more than $46.6 million with 75 percent of the items sold by lot and 85 percent sold by value.

However, the sale also notable for a number of big-ticket items that failed to sell. Among them:

* An 18k pink gold and platinum ring set with a 2.47-carat heart-shaped fancy purple-pink diamond and flanked on either side by a modified heart- shaped fancy intense blue diamond, weighing approximately 1.22 and 1.16 carats. Its high estimate was $1.55 million.

* A 37.20-carat modified pear-shaped fancy deep brown-yellow diamond mounted in 18k rose gold with a high estimate of $800,000.

* An 11.70-carat circular-cut diamond, with the shoulders set with baguette-cut diamonds, mounted in platinum that had a high estimate of $800,000.

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Sotheby’s To Sell ‘Most Valuable Diamond Ever to be Offered at Auction’

The 59.60 carat Pink Star may fetch $60 million.

Sotheby’s Geneva will offer a 59.60-carat internally flawless vivid pink diamond at its Magnificent Jewels sale on November 13. Known as The Pink Star, the auction house says it is the most valuable diamond ever to be offered at auction. It is estimated to sell for more than $60 million. For those counting that’s more than $1 million per carat.

The oval cut gem is the largest internally flawless fancy vivid pink diamond that the Gemological Institute of America has ever graded, the auction house said.

David Bennett, chairman of Sotheby’s Jewellery Division in Europe and the Middle East and chairman of Sotheby’s Switzerland, said the diamond is one of the most important gems he has ever seen in his 35-year career.
 

“Its exceptional richness of color … combined with its extraordinary size, are characteristics that surpass those of any known pink diamond in state, royal, or private collections,” he said. “It is difficult to exaggerate the rarity of vivid pink diamonds weighing only five carats, so this 59.60 carat stone is simply off any scale, and passes, I believe, into the ranks of the earth’s greatest natural treasures.”

The diamond is also graded as Type IIa, rare for a pink diamond of this size and color. Cut over a period of two years, The Pink Star is still more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for a diamond and any gemstone or jewel at $46.2 million, at Sotheby’s Geneva in 2010.

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$7.8 Million, 12-Carat Pink Diamond

Majestic Pink Diamond

A 12.27 fancy pink diamond is being offered by M.S. Rau Antiques in New Orleans. Known as the “Majestic Pink Diamond,” it has characteristics that are among the most desirable and rare in fancy colored diamonds, including VVS1, Type IIa designation.

Type IIa colored diamonds are among the most desirable by collectors because they rarely contain internal imperfections and are famous for their color. The VVS1 designation translates to “Very, Very Slightly Included,” denoting very high clarity—rare for a colored diamond of this size.

The cushion-cut diamond is mounted on an 18k rose gold and platinum ring. The asking price is $7.85 million.

The pink diamond ring will go on display online on the 1stdibs.com website beginning August 8. For those who like to view the diamond in person, it will be on display at the Baltimore Summer Antiques Show, August 23 – 26.

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The Clark Pink Diamond Sells for Record $15.7 Million

The 9-ct. Belle Epoque cushion-cut, fancy vivid purplish pink diamond ring from the estate of Huguette M. Clark sold for $15.7 million.

NEW YORK — A 9-carat pink diamond from the estate of Huguette M. Clark sold for more than $15.7 million, after intense, competitive bidding that led to an eruption of applause on the crowded auction floor at Christie’s Tuesday. It is the most valuable pink diamond ever sold in the United States at auction, according to the auction house.

The Belle Epoque cushion-cut, fancy vivid purplish pink diamond, known as “The Clark Pink,” was estimated to fetch $6 to $8 million. Clark, one of the last heiresses of America’s Gilded Age, died in May, 2011, at the age of 104. Her collection of 12 lots drew intense intentional attention because she lived a reclusive life in her later years and her jewels were believed to have been kept in a vault unseen since the 1940s.

The entire collection, which included picture frames, a clock, an American flag lapel and jewelry pieces by Cartier and Tiffany, took in a total of $20.8 million against a presale estimate of $9 million. Other significant items from the estate sale included:

* A 19.86-carat rectangular-cut diamond ring by Cartier that sold for $3.1 million;
* An Art Deco diamond bracelet by Cartier that sold for $578,500; and
* A ruby, sapphire, emerald and gold bracelet by Tiffany & Co. that sold for $266,500.

More images of the Clark estate jewelry can be found by following this link.

The collection was part of Christie’s Magnificent Jewels sale Tuesday that had 305 lots that included signature jewels, items from several estates and serious diamonds. It took in a total $70.7 million, with 95 percent of the items sold by lot and 97 percent of the estimated price realized.

More on other significant sales from the auction later today.

Edmonton Jeweler to Display 10-Ct. Pink Diamond

Canadian fine jewelry retail chain, Birks, will showcase a 10-carat fancy light purplish pink diamond at its Edmonton store at Manulife Place, 10180 - 101st St., from April 13-17. The radiant cut diamond with SI1 clarity is owned by a private collector and is available for $2.5 million CAD ($2.52 million). 

The pink diamond originated from a rare rough stone of 21.35 carats found in a South African mine, making it one of the world’s largest pink diamonds ever mined, Birks said in a statement. Because of its large size, it took 3½ months to cut and polish the stone. The pink diamond, with its purple and pink hues, is set on a platinum ring.

Pink diamonds of this size, as regular readers of this blog know, are extremely rare. The auction house Christie's – one of the most important resellers of diamonds in the world—has reportedly auctioned 18 polished pink diamonds over 10 carats in its 244-year history. The South African 10-carat stone, made from a 21.35-carat rough stone, is even larger than Australia's biggest rough pink diamond weighing 12.76 carats, recently unearthed at its Argyle mine, the most famous mine in the world for pink diamonds.

12-Carat ‘Martian Pink’ Diamond Could Fetch $10 Million

12.04-ct. fancy intense pink Type IIa round brilliant-cut diamond ring, by Harry Winston. © Christie's Images Limited 2012

The largest round fancy intense pink diamond to ever appear at auction will be part of Christie’s Hong Kong Magnificent Jewels sale on May 29. The 12-ct. diamond is estimated to fetch $8 - $10 million.

The extremely rare diamond is owned by a private collector. It was purchased from Harry Winston in 1976—the same year, the United States launched its first satellite on a mission to Mars: The Viking landers. Ronald Winston named the diamond the “Martian Pink” to honor the historic event.

The Martian Pink is one of two known significant sized round pink diamonds in this world—the other being the 23.60-carat Williamson Pink diamond that was presented to Queen Elizabeth II on the occasion of her wedding in 1947. While most natural pink diamonds exhibit a color modifier like purple, orange or grey, the gem that is up for auction “shows absolutely no trace of a secondary color, making it exceedingly rare,” the auction house said. “Combined with a Type IIa characteristic, the diamond shows an extraordinary limpidity together with a lovely intense pink coloration.”

11.85-ct. D VVS1 potential round brilliant-cut diamond ring, by Harry Winston. © Christie's Images Limited 2012

A second item from Harry Winston, an 11.85-carat D VVS1 Potentially Flawless round brilliant-cut diamond, is being offered. “Its dimensions, perfected by the round brilliant cut, ensures a stunning visual display of brilliance,” the auction house said. “Combined with top D color, this brilliant-cut diamond is a wonderful example of the classic round stone.” The auction estimate is $1.7 - $2.5 million.

Valentine’s Day Jewelry Gifts

The 1 million pink Prosperity Diamond

There is nothing like seeing the person you love smiling because of something you did for her. If you want to see that smile on Valentine’s Day, take some time to get her a gift that really expresses how you feel about your relationship. Below are a range of jewelry gifts from rarities to the easily accessible. What they share is that they are all guaranteed to make your loved one beam.

The $1 Million Pink ‘Prosperity’ Diamond

As rare as true love is the Argyle pink diamond. They are mined from a single source, the Argyle Mine in Western Australia. The mine has an estimated 10-year supply left of these pinks then they will be gone forever. The most exceptional and rare diamonds from the mine are sold at an annual tender held in major cities around the world. A select group of diamond dealers are invited in each city where they view the diamonds and place silent bids on the ones that catch their fancy. They learn months later if their bid, or bids, won. At the last tender, Leibish & Co. won six diamonds. One of those was a radiant cut 1.71-carat vivid pink diamond. A skilled diamond cutter removed 0.03 cts. (less than 1 percent) and the color changed to a fancy vivid purplish pink and the value dramatically increased. “We just touched it,” said Leibish Polnauer, the Israeli-based company’s founder and CEO. “But you have to touch it the right way.” If that’s not enough, the now 1.68-carat diamond has a number that is considered extraordinarily lucky in China. Thus, the Prosperity Diamond was born. The diamond is now mounted on a double halo platinum ring and complimented with 0.82 carats of diamonds that adorn the halos and shank, with additional pave set round brilliants on the side of the head. It is available for $1 million and can be purchased at http://www.fancydiamonds.net.

The Jewelry Timepiece

Vacheron Constantin, the world’s oldest watch manufacture, has added to its Kalla family with the Kalla Haute Couture à Pampilles. This couture timepiece revives the tradition of “secret” watches that enabled 19th century watch wearers to check time in an exquisitely discreet manner. Set with a combination of brilliant, princess and flame-cut diamonds, the precious stones conceal a diamond-paved dial. With the subtle motion of four delicate mobile strands, the dial of the Kalla Haute Couture à Pampilles reveals itself on the wrist. The clasp, bracelet and dial are all made of white gold. The bracelet is composed of two diamond-studded ribbons that close delicately on the wrist like a precious jewel. The mechanical movement with caliber 1005 is manually wounded. It retails for $735,000 and is available at authorized Vacheron Constantin retailers.

One-of-A-Kind

There isn’t a woman on earth who doesn’t dream about owning a one-of-a-kind piece of highly crafted and stylized jewelry. Alexandra Mor makes these dreams come true. An example is this 68-carat emerald-cut amethyst ring that’s set with Mor’s signature details of 1mm knife-edged wire and 1.40 carats of 1mm “floating” diamond melee. The platinum mount is set on a 1mm 18k yellow gold band. It is signed by the artist and is priced at $22,000. To purchase go to www.AlexandraMor.com. For any sales inquiries, contact Alon at Alon@alexandramor.com. To make an appointment to visit the New York-based firm, contact Laura@alexandramor.com.


Flowery Timepieces from France

The Swiss are the undisputed kings of watchmaking. However, across the border is the Doubs region of France where the country’s watchmaking industry is centered—often using the same people, technologies and techniques as their Swiss counterparts. One company from the region, Damoiselle D, specializes in ladies fashion watches. The company calls its creations jewelry watches. They feature elaborate, circular shapes that start at the dial and work their way outward along with the liberal use of precious materials and diamonds. The watches are adorned with eight petals meant to symbolize happiness, luck and prosperity The one pictured is from the company’s Rosa line and is made with pink gold with a green translucent “sun” design on the dial, made from enameling. The color symbolizes love, divine wisdom, beauty and immortality. It retails for $20,500 and is available at Place Vendome in Pasadena, Calif.

The Flower Pendant

It’s a classic look that when done well still excites. This delicate flower pendant, known as “Gossamer,” is made with fine natural colored diamond rose cut slices and burnt orange diamonds in the center. It was crafted by YNY Jewels, established in 2006, which focuses on creating a wearable, beautiful line of jewelry that showcases the company’s appreciation for color, design and quality. The Gossamer retails for $12,000. Contact YNY Jewels directly to get a name of a retailer at 212 302 3130 or go to www.ynyjewels.com.

Stackable Marquise Rings

It’s safe to say that anyone who ends all their written correspondences with the word “Love,” has an in depth understanding of the meaning of Valentine’s Day. The jewelry designer who goes by the name, JJ, creates refined, colorful jewelry made from a variety of gemstones matched with precious metals. Her company is JJ Number 8 (the good luck number). Her latest creation is the stackable Marquise Rings made with peach moonstone, orange carnelian, turquoise and of white topaz. The three rings pictured are the orange carnelian and 18k yellow gold ($2,360); the peach moonstone and 18k yellow gold ($2,150); and the turquoise and 18k yellow gold ($2,070). They can be purchased through the company’s website where you can also find retailers that sell the items.

Valentine’s Bead Bracelet

This bracelet is not only a symbol of love and a personal treasure, but it is intended to bring luck and joy to its owner, according to Montblanc. The talisman, made of shining silver beads on a black thread features a single red gold-colored heart. It’s designed to be worn daily. The use of two contrasting materials means that it can be matched to many different outfits and appeals to women who favor gold or silver shades. The Montblanc Valentine’s Bead Bracelets retails for $465 and are limited to 500 pieces with each piece numbered. It is available in Montblanc boutiques worldwide.

Double Heart Beat Black Beauty

With a deep black mother of pearl dial and diamonds in and outside the dial, the Double Heart Beat Black Beauty is the latest from the Frederique Constant Heart Beat collection of ladies watches. Two intertwined hearts form an aperture in the dial revealing the “heart beat” of the movement. The Heart Beat was developed in 1994 to show the mechanical nature of these Frederique Constant watches by having an aperture at the position of the balance wheel. And there’s the symbolism of the twin hearts that represent a shared love on Valentine’s Day. It retails for $3,995 and is available at the Wynn resort and casino in Las Vegas. However, if you can’t make it to the Wynn, the other Heart Beat watches are available at Frederique Constant boutiques worldwide as well as other authorized retailers.

Colorful Resin Creations

Angélique Knafo, creative director and designer for her namesake collection, Angelique de Paris, creates what she calls wearable art. All of her creations are made of resin and incorporates bright colors and intricate designs based on her broad background in art, her 13 years living in Paris and her world travels. For Valentine’s Day, she unveiled the JE'TAIME bracelets in five tonal compositions of mauves, pinks, aquas, caramel and silver--adorned with charms. It retails for $210. Go to www.AngeliqueDeParis.com to find a retailer near you.