Rare desires: Passion for pink diamonds continues to burn

November 22, 2024

By: Samuel Ord

“An eye-catching 7-carat emerald-cut pink diamond set in a ring will headline an upcoming auction in New York with an impressive presale estimate.

The fancy intense purplish-pink diamond is internally flawless and was set in a ring by designer Valentin Magro. It will enter the Magnificent Jewels sale on 11 December at Sotheby’s with a presale estimate of $USD4.3 million ($AUD6.65 million).

It’s one of several fancy colour diamonds that will hit the auction block. Among others, a necklace featuring a 69-carat fancy vivid yellow diamond will carry an estimate of $USD3.5 million ($AUD5.41 million).

A 0.71-carat round modified brilliant-cut fancy red diamond from the Argyle Mine is also expected to attract the attention of buyers, with an estimate of $USD1.8 million ($AUD2.78 million).

No signs of slowing down

The Financial Times recently published a report on the ongoing popularity of fancy colour diamonds, consulting with various industry experts.

Among them was François Graff, who purchased a 1.56-carat fancy red diamond in May – the Argyle Phoenix – and described it as ‘incomparably rare and extraordinarily beautiful.’

“With the closure of the Argyle diamond mine, we have seen a continued appreciation in the value of these stones,” he said.

“Currently, there are very few sources of pink diamonds in the world, which has only served to heighten both their rarity and desirability.”

The Argyle Phoenix nearly tripled its high estimate, returning $USD4.2 million ($AUD6.29 million).”

Source: www.jewellermagazine.com

Picture credit: Sotheby’s