Sotheby’s sets new record in Hong Kong with 8 carat pink diamond auction
One of the rarest pink diamond
The flawless 8.4 carat pear shaped pink diamond, sold for a record-breaking $17.8 million this week in Hong Kong. The sale was $3 million over the estimation made by Sotheby’s, and set a world record for the highest price per carat paid for loose pink diamonds. More than 200 people attended the diamond auction at the Hong Kong Exhibition and Convention Center in Wan Chai. The final bid for the loose diamond came in over the phone, and the buyer remains anonymous.
This pink diamond is one of the rarest pink diamonds that exists in the world today. The internally flawless clarity grade is very rare for pink diamonds. The combination with the fancy vivid color grading makes the loose pink diamond even more unique. Fancy color diamonds have been on a steady increase, as diamond investors turn their attention to fancy color diamonds the diamond prices achieved at auctions also increases. “Spending $17.8 million on an 8.41 carat pink diamond indicates a sophisticated market,” said Mr. Quek, the auction house’s deputy chairman. “At over $2 million per carat, this is a sophisticated group of diamond buyers,” he said.
A fancy color diamond is a natural color diamond, which can be found in a wide range of colors such as pink, blue, orange, red and green diamonds. These diamonds are amongst the most rare and beautiful diamonds that nature has to offer. Fancy color diamonds are extremely rare as only 1 in 10,000 diamonds that are mined will be a fancy color diamond, with most of those below 1 carat. An 8 carat pink diamond is truly a unique treasure coveted by many loose diamonds and jewelry lovers.
Published on October 10, 2014 by Diamond Registry
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