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Christie’s Hong Kong Sells Pink Diamond for $32M

A pink diamond ring was sold for $32 million (HKD 250 million) at a Christie’s auction in Hong Kong, writes Rapaport.

The oval-shaped, 14.93-carat, fancy-vivid pink, VVS1-clarity Pink Promise went for $2.1 million (HKD 16.7 million) per carat at the Magnificent Jewels sale on Tuesday, according to Christie’s.

The previous owner, Stephen Silver, bought the stone in June 2013 as a 16.21-carat, fancy intense pink diamond. He noticed that the cut made some parts of it look washed out, he decided re-cut it to a smaller diamond hoping to achieve a higher color grade, Silver said.

With a final weight of 14.93 carats, the stone received a GIA grade of fancy vivid pink, which is a higher category.

The Hong Kong auction yielded total of $93.7 million (HKD 731.1 million). A rectangular-cut, 8.80-carat, fancy intense pink, VVS1 diamond sold for $9.7 million (HKD 75.5 million), a necklace featuring 29 jadeite beads, as well as ruby and old-cut-diamond clasps, went for $12.3 million (HKD 95.7 million).

Source: Rapaport