The “Unique Pink” – A One of a Kind Pink Diamond!
April 9th, 2016 by Noam Flint
Sotheby’s 2016 start outdid all others by presenting (and selling) an unmatched collection of blue diamonds, and now, judging by their Catalog for its Geneva Magnificent Jewels and Noble Jewels auction on May 17, it seems that they are aiming towards pink diamonds.
The Unique Pink
Their plate is looking quite full and tempting, after having sold the 10.10 carat Fancy Vivid Blue ‘DeBeers Millennium Jewel 4’ diamond in Hong Kong, and announcing the upcoming sale of the 9.54 carat Fancy Deep Blue ‘Shirley Temple Blue’ diamond ring in April at their NY Magnificent Jewels auction. Sotheby’s has announced that they will be selling the Unique Pink – a 15.38 carat Fancy Vivid Pink diamond in May.
About The ‘Unique Pink’ Diamond
Now that the market has seen the addition of at least 4 important blue diamonds to be sold at auction, it looks like Sotheby’s has looked to once again stand out from the crowd by introducing something important and different to the public. The ‘Unique Pink at 15.38 carats diamond is the largest ever Fancy Vivid Pink pear shaped diamond to ever to be offered at auction.
The Unmatched Record Potential
The estimated by Sotheby’s is between $28 million and $38 million, or between $1.8 million and $2.47 million per carat. The estimate that they chose is at minimum a price that breaks the total price for a pink diamond, and at its middle estimate would also break the record per carat price for a pink diamond.
The current record holder for total price for a pink diamond was for the 16.08 carat Fancy Vivid Pink ‘Sweet Josephine’ diamond, which sold for $28,687,003 in total value. It sold back on November 10, 2015 at Christie’s Geneva auction and was acquired by Hong Kong Billionaire, Joseph Lau for his daughter Josephine. The Unique Pink can pass the Sweet Josephine’s record if it sells for more than $28.6 million, and $28 million was its lowest estimate by Sotheby’s.
The price per carat for a pink diamond for the Unique Pink to beat is of $2.155 million per carat that was paid for the 5.00 carat Fancy Vivid Pink diamond on December 1, 2009 in Hong Kong. The Unique Pink would need to sell for at least $33.2 million total in order to break that record, and its estimate by Sotheby’s is between $28 million – $38 million, leaving $33.2 million well in the range of possibility!
If the Unique Pink sells for at least $33.2 million, it will hold 3 records: Largest ever pear shaped Fancy Vivid Pink diamond ever to be sold at auction, the record per carat price for a pink diamond, and the record for total price paid for any pink diamond at auction. Since Sotheby’s priced the Unique Pink’s lowest estimate at the price that the Sweet Josephine was sold for, it looks like they are expecting to make major headlines that evening.
Will the ‘Unique Pink’ diamond break any or all of these records? Are buyers still willing to pay such high prices time and again for these special fancy color diamonds that are offered at auction?