'Incomparable' pink diamond smashes record at Geneva auction

'Incomparable' pink diamond smashes record at Geneva auction

Bidding was fast and furious for the rare pink diamond known as the Pink Legacy.

Fancy-vivid pink diamonds rarely weigh more than one-fifth of a carat, and only four of such diamonds identified as over 10 carats have been offered for auction in nearly 250 years, according to Christie's.

Christie's sold the "Pink Legacy" diamond at auction today for more than US$50 million ($74m) including fees, saying it's a new world record price per carat for a pink diamond.

The stone was immediately rechristened the "Winston Pink Legacy" by its buyers.

A rare pink diamond has fetched SFr50.3 million ($50m; £38.5m) at auction, a record price per carat.

The diamond, which generated a great amount of interest during the annual Magnificent Jewels auction due to its size, is categorized as a "Fancy Vivid" diamond, which is the highest grade of diamond color intensity.

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"You may see this colour in a pink diamond of less than one carat", Mr Kadakia said. Only 1 in 100,000 diamonds are considered "Fancy Vivid".

Christie's said the "Pink Legacy" achieved a new per-carat record for a pink diamond, and was the second most expensive one ever sold at auction.

The Pink Legacy, which once belonged to the Oppenheimer family which for decades ran the De Beers diamond mining company, was snapped up by American luxury brand Harry Wilson, part of the Swiss Swatch group.

The sale is the latest in a booming market for large pink diamonds.

Christie's auction house jewellery specialist Rachel Evans-Omeyer poses with an 18.96 carat Fancy Vivid Pink Diamond on show in London on September 25, 2018 before its November auction with an estimate at U.S. $30 to $50 million. It was the largest polished diamond ever auctioned.

"$2.6 million per carat".

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