Diamond sells for $17.7 million, highest price ever paid for vivid pink stone

The 8.41-carat fancy vivid pink diamond that sold for $17.7 million at Sotheby’s in Hong Kong.

Diamond sells for $17.7 million, highest price ever paid for vivid pink stone

An 8.41-carat fancy vivid pink diamond has been sold for a record $17.7 million at a Sotheby’s jewelry auction in Hong Kong. The figure was more than $2 million above the higher pre-sale estimate of $15.5 million.

According to Quek Chin Yeow, deputy chairman of Sotheby’s Asia, said the pear-shaped stone had “attracted keen competition before fetching a wonderful price of HK$137.88 million ($17.77 million) and setting a world auction record for a fancy vivid pink diamond.”

It was the highest price ever achieved at auction for a vivid pink diamond. The previous world auction record was held by a 5-carat fancy vivid pink diamond, which sold for $10.8 million in November 2009. Nonetheless, the earlier sale still hold the record price per carat $2.16 million, which is slightly higher than the $2.11 million per carat registered at the latest sale in Hong Kong.

The buyer of the 8.41-carat diamond was not immediately identified.

According to Sotheby’s, an internally flawless clarity in combination with a “fancy vivid” color grading made the pink stone “amongst the rarest and most desirable of colored diamonds ever seen at auction.”

The highest price for a diamond at auction to date also involved a pink stone. Called the “Graff Pink”, it was a 24.78-carat fancy intense pink diamond that was bought by the London dealer Laurence Graff in 2010 for 45.44 million Swiss francs, which then were worth $45.75 million.

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