India Luxury Market
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The Pink Star Diamond ring sold for over US$83M ($83142349 or €61,91,2532). The Pink Star Diamond has been renamed ‘The Pink Dream’ by its buyer Isaac Wolf.
The largest fancy vivid Pink Diamond to ever be graded by the Gemological Institute of America, is now set to be auctioned in Geneva. It is valued to be sold for more than US$60 Million.
59.60 Carat, internally flawless diamond was discovered in a mine in Africa, nearly 15 years ago. Unearthed by De Beers company, the pink diamond in its rough form weighed 132.5 carat. It took 2 years to polish the diamond to this clarity. The fancy vivid pink diamond was first sold in 2007. It was at that time, the diamond was christened ‘The Pink Star’.
Interestingly, pink diamonds were first discovered in India, decades ago. The pink colour in diamonds is said to be the most wanted. The ‘Agra” diamond too, is pink in colour.
There are several types of pink diamonds – fancy pink, fancy intense pink, deep pink etc. But the highest colour grade for a pink diamond is ‘Fancy Vivid’.
The Pink Star is unique not just for its colour grade. It is also a Type IIa gem: stones in this group are chemically the purest of all diamond crystals and often have extraordinary optical transparency.
The possibility of finding a pink diamond is very rare, thus this colour diamond is often highly priced, specially if it is above 10 carats and has an intense colour.
‘The Pink Star’ will feature and be auctioned by Sotheby’s auction house in Geneva as part of its sale of ‘Magnificent Jewels’ scheduled on November 13, 2013. It could well be the most valued diamond to be presented at an auction.
*Image: Sotheby’s, Geneva.
Shilpa is a world renowned journalist and an expert in decoding India and Asia’s luxury markets for global readers. Her original, in-depth reports and analysis are frequently featured in prestigious international titles across the UK, China, Hong Kong, Switzerland, and Oman.
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