THE POWER OF PINK DIAMONDS HISTORY, COLOR & RECORD AUCTION SALES
THE HISTORY OF PINK DIAMONDS
The Power of Pink Diamonds comes from a unique history and rarity unlike most other gemstones. A French merchant by the name of Jean-Baptiste Tavernier, who was best known for acquiring the ‘Tavernier Blue Diamond’ that he sold to Louis XIV, made the first reference to pink diamonds in the early 17th century.
Jean-Baptiste Tavernier mentioned that a very large pink rough diamond weighing over 200 carats was shown to him in the Kingdom of Golconda in 1642. This diamond was named ‘The Grand Table’ is still the largest pink diamond recorded to date. The French merchant also purchased two pale pink diamonds around 1668 and drew the pictures of the stones in his travel book.
THE COLOR: PINK
The value of colored diamonds has considerably increased since the 17th Century. Fancy colored diamonds are rarer than colorless diamonds as their deep color and saturation come from a disturbance during the formation process of the stone deep in the earth. The origin of color of pink diamonds is still a mystery for connoisseurs and scientists alike. For all colored diamonds except pinks, the color comes from trace elements that interfere during the formation of the crystal.
RECENT PINK DIAMOND RECORD PRICES
GENEVA (Reuters) — A rare pear-shaped vivid pink diamond fetched 30.8 million Swiss francs ($31.46 million) at auction in Sotheby’s. The “Unique Pink,” weighing 15.38 carats and mounted on a ring, sold to an Asian private collector bidding by telephone, the auction house said.
“The Unique Pink set a new world record for a fancy vivid pink diamond … It’s the highest price ever paid for a fancy vivid pink diamond,” David Bennett, worldwide chairman of Sotheby’s international jewelry division, told reporters.
The “Sweet Josephine,” a fancy vivid pink diamond weighing 16.08 carats, held the previous record since selling for $28.5 million at rival Christie’s in November, and still retains the price per carat record in the category.
In 2013 the Pink Star was auctioned by Sotheby’s Geneva on 13 November 2013. The sale price was USD 83,187,381, a world record for a diamond of any color and, indeed, for any gemstone. Prior to the sale the record had been held by the Graff Pink.
The Pink Star was bought by New York diamond cutter Isaac Wolf who renamed it The Pink Dream. However, according to Forbes magazine, the auction price has so far not been settled by the buyer and the stone has now been added to the Sotheby’s inventory. As of May 2016 the diamond was still with Sotheby’s, as the 2013 buyer could not afford the price.
The Graff Pink, a rare 24.78 carat pink diamond, once owned by American celebrity jeweler Harry Winston, has been described as “one of the greatest diamonds ever discovered”. The diamond, mounted in a ring, was sold by Sotheby’s auctioneers in Geneva, Switzerland on 16 November 2010. Before its sale, the stone was expected to enter the list of the top ten most expensive diamonds in the world; on selling for US $46 million (£29 million) it became the most expensive single jewel ever sold at auction at that time. It was bought by diamond dealer Laurence Graff, of Graff Diamonds who named it Graff Pink.