Massive 23-carat Pink Diamond Found

December 2nd, 2015 by Noam Flint

The Williamson diamond mine co-owned by Petra Diamonds and the Tanzanian government has done it again!

The mine, famously known of producing one of the biggest and most famous pink diamonds that exist – The Williamson Pink – the center piece in Queen Elizabeth’s Williamson Pink Diamond Brooch, is now responsible for one of the greatest finds in the pink diamonds industry – a massive 23.16 carat pink diamond that of “exceptional color and clarity”.

23 carat pink diamond rough by Petra Diamonds23 carat Pink Diamond Rough by Petra Diamonds
Image: Petra Diamonds

Pink diamonds are only found in a handful of mines throughout the world and their rarity ensures that they are one of the most highly coveted of all the fancy colors”

A spokesperson from Petra told The Independent.

How much is a 23 carat rough pink diamond worth?

And the timing of this find could not have been better. As prices of pink diamonds are constantly on the rise, just two weeks prior to the find a 16 carat pink diamond shattered records selling for the astounding price of $28 million at Christie’s Geneva magnificent jewels sale.

This new pink diamond is anticipated to go on sale at an auction in Antwerp in Dec. 2015. It will be sold in the rough but estimations are that the diamond can be polished to a pure vivid pink with high clarity grading. This will make it one of only three other known pink diamonds over 10-carats to reach that clarity grading. The newly found unnamed diamond is sure to make an impressive sale.

Interestingly, a week from the discovery of the pink diamond, Petra Diamonds’ stock has increased dramatically adding to its market cap $38 Million Dollars! Is that what the market anticipates the pink diamond’s value is? At this point on, we’ll have to wait and see…


Auction results reveal the Diamond’s Value

The 23 carat pink diamond was sold for $10.05 Million. However, this is not the final price of the diamond!

The buyer of the diamond – M.A. Anavi Diamond Group – actually bought their way into a partnership with Petra Diamonds as Petra promised themselves 20% of the proceeds from the polished gem. An interesting deal showing the strong belief in the continuous rise in the prices of pink diamonds.