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Sweet Josephine Pink Diamond on HandA spectacular price of $28.5 million USD for this stamp sized pink diamond of 16.08 carat. This rare colored diamond has been bought and dubbed by Joseph Lau, a Hong Kong bidder, as “The Sweet Josephine”. This large diamond is definitely the star lot of Christie’s semi annual jewelry sale in Geneva next to many other interesting lots. This sale was just one day before that of the blue diamond of Sotheby’s, which is now the most expensive diamond of the industry.

The Chinese buyer based in Hong Kong who bought this fancy vivid cushion shaped pink diamond has been in the news for a longer period now due to his purchases. Both of the purchases were made for his 7-year old daughter named Josephine. Which explains the lovely name of this diamond – The Sweet Josephine. The amount that the Hong Kong bidder gave for the 16.8-carat diamond narrowly beat the expectations of the expert auctioneers. The estimated price for this pink diamond ring was between $23 million USD up to $28 million USD.

A pink diamond with this diamond grading is very unusual, even extremely rare to find in the industry. According to Christie’s there are only three pink diamonds in 250 years that are graded by the Gemological Institute of America (GIA) as fancy vivid and over 10 carat! However, this pink diamond did not make it as the world’s most expensive pink diamond. That is for the pink diamond of 24.74 carat sold by Sotheby’s in November 2010. This 24.74 pink diamond was sold for an stunning price of $46 million USD.

Next to the great diamond jewelry and this amazing pink diamond a Modigliani nude painting was sold by Christies on Monday November 10th. Liu Yiqian a Chinese buyer bought it for $170.4 million USD- the second highest price for artwork ever at an auction. The Asian appetite for luxury and rare items is increasing according to auction house Christies and Sotheby’s. Due to these major sales in diamonds and artwork we believe Asian director Patti Wong who says that Asians are expected to represent a third of the global high-end jewelry buyers very soon, do you?

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