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Tue, 12 Nov 2019 05:20 GMT

Christie’s Sells Record-Setting $50M Pink Diamond

Lifestyle & Health

7Dnews London

Wed, 14 Nov 2018 12:47 GMT

Christie's sold the "Pink Legacy" diamond at their auction on November 13th for more than $50 million including fees. The auction house stated the price set a new world record per carat for a pink diamond.

Christie's further said renowned jeweller Harry Winston was the buyer. The bidding war took about 6 minutes before the final bid got accepted.  

The auction house had expected to fetch $30 million to $50 million for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever put under the hammer, AP reported. 

It was the standout offering at Christie's fall jewellery auction in Geneva. The room broke into applause after the auctioneer struck down a hammer price of $44.5 million, which excluded the standard "buyer's premium" and other fees. All told, the diamond went for $50.375 million, including the fees.

Rahul Kadakia, Christie's head of international jewellery, said the auction house has sold only four diamonds weighing more than 10 carats of the same color in its 251 years in business.

Sotheby's will also auction jewellery on November 14th. The pieces were once owned by French Queen Marie Antoinette and have not been seen in public for 200 years.