GENEVA Switzerland — The
Fortune Pink diamond, an exceptionally rare
giant gemstone, sold for more than $28.5 million at auction in Geneva on
Tuesday to a private Asian customer.
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At 18.18 carats, the jewel is the largest
pear-shaped “fancy vivid pink” diamond ever sold under the hammer, Christie’s
auction house said.
The dazzling diamond fetched a hammer price of 24.5
million Swiss francs ($24,615,150), rising to 28,436,500 Swiss francs
($28,570,150) with the buyer’s premium added on.
The bidding, which lasted for a tense four minutes,
started at 17 million Swiss francs and was a three-way battle between telephone
bidders, with the winner eventually claiming the gem by upping the bid by half
a million.
“The buyer is happy. It’s a dream come true,” the
Christie’s employee taking the winning telephone bid told AFP, while maintaining
the buyer’s anonymity.
The Fortune Pink, mined in Brazil, had been
estimated to fetch between $25 million and $35 million.
Christie’s noted that the carat weight, 18.18, was
considered a lucky number in Asia, where it signifies “definite prosperity”,
and gave the diamond its name.
“Very aptly, it was purchased by an Asian private
customer,” Rahul Kadakia, Christie’s international head of jewelry, told
reporters after conducting the sale. “It’s a very select group of customers who
are buying at this level.”
“I’m very happy that it’s gone to a new family who
will enjoy it, who will wear it, and I hope it brings them good fortune.”
Rare gems
Pink diamonds are only found
in a few places, and fewer than 10 percent weigh more than one fifth of a
carat.
Big jewels like the Fortune Pink are therefore among
the rarest diamonds and are some of the most in-demand on the global market.
On Friday, the 11.15-carat
Williamson Pink Star pink
diamond sold in Hong Kong for HK$453.2 million ($57.7 million), setting a
record for price per carat paid at auction for any diamond or gemstone,
according to Sotheby’s. It fetched the second-highest price paid at auction for
any jewel.
Tobias Kormind, managing director of online diamond
jeweler 77 Diamonds, said the Fortune Pink price was “disappointing” in
comparison.
“Hong Kong has trumped Geneva and whether we like it
or not, the center of gravity of wealth creation is moving towards Asia,” he
said.
The world record for a pink diamond was set in 2017,
when a stone known as the CTF Pink Star was sold in Hong Kong for $71.2
million.
Standing room only
The Fortune Pink was
auctioned in the Magnificent Jewels sale at the Hotel des Bergues, part of
Christie’s Luxury Week of sales in Geneva.
The jewels sale of 71 lots fetched nearly 56.6 million
Swiss francs. Five other diamond lots went for more than a million Swiss
francs.
“It was an exciting night,” said Kadakia. “There is
appetite, people want to pay the prices. I have not, since COVID, seen the room
packed all the way to the end of the ballroom where there was standing room
only.”
“It gives you a sense of how the market is feeling
so much more buoyant,” he said.
Sotheby’s Geneva Luxury Week is also under way, with
a fancy vivid blue cushion-shaped diamond weighing 5.53 carats estimated to
fetch 11 to 15 million Swiss francs on Wednesday.
It is part of the De Beers Exceptional Blue Collection — a
group of eight rare, fancy blue diamonds with a total value of more than $70
million, being sold in Geneva, New York, and Hong Kong.
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