A pink diamond of 'unparalleled color and brightness' is expected to fetch over $35 million when it goes on sale in New York.
A pink diamond of"unparalleled color and brightness" is expected to fetch over $35 million when it goes on sale in New York, auction house Sotheby's announced Wednesday.
The price of diamonds is largely determined by what gemology experts call the four"Cs": carat, cut, color and clarity. For the latter grading, the stone has been classed as"internally flawless," meaning any blemishes are only visible under close magnification. Its color has meanwhile been designated"fancy vivid," the highest grade of intense color achieved by only 4% of pink diamonds.
The Eternal Pink was cut from a rough diamond, discovered in 2019, that at 23.87 carats weighed more than twice as much as it does now. It took diamond firm Diacore six months to transform the stone into its current form. The auction record for a pink diamond — or a polished diamond of any color — is currently held by a 59.6-carat stone that sold for $71.2 million at Sotheby's Hong Kong in 2017. The pink diamond was purchased by Hong Kong jewelers Chow Tai Fook and renamed"CTF Pink Star."
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