At the auction that was held in Geneva, a historic pink diamond and ruby gemstone stole the show. Together with the rare and popular colored diamonds the auction set new world record for highest total jewelry sale of this kind. The record breaking amount that was fetched on this auction in Geneva was almost 161 million US dollar. A total sale that breaks many estimations and records for precious diamonds or other gemstones. The historical pink diamond that is believed to be a diamond ring of the niece of French Emperor Napoleon I is sold for an impressive amount of money of nearly 16 million. The historical pink diamond is an 8.72 carat a modified cushion cut which is classic and non-modified, which is unusual for a pink diamond. The Gemological Institute of America (GIA) graded the pink diamond for fancy vivid purplish-pink with a VS2 clarity, which is quite high and rare for a colored diamond of this carat size. I carat diamonds are rare, especially for colored diamonds. Therefore it is not only the historical value of the ring which might have helped the pink diamond to reach its high price on the auction.
The cushion cut pink diamond stayed in a bank safe since 1940s and reappeared recently. What the origin is of the historical diamond is unclear but regarding to Bennet, a diamond expert, the stone’s technical characteristics show that it may have been found in the Golconda mines of India.
Due to the high amount of money paid for colored diamonds recently, there is talk going around that the market for colored diamonds, such as pink, blue, green or yellow diamonds has never been this dynamic as it is now. The historical pink diamond is evidence that the market is hungry for exceptional jewels that are rare.