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This 'true wonder of nature' pink diamond sold for more than Rs4.6bn

This 'true wonder of nature' pink diamond sold for more than Rs4.6bn

Mined by Russian diamond producer Alrosa in July 2017, it was cut from the largest pink crystal ever found in the country.
12 Nov, 2020

How much would you pay for a pink diamond?

Some, it turns out, are willing to splurge as high as Rs4.6 billion!

An extremely rare, purple-pink diamond mined in Russia, which Sotheby’s described as “a true wonder of nature”, sold for $26.6 million Swiss francs on Wednesday, the auction house said.

Sotheby’s had estimated that the flawless oval gem, “The Spirit of the Rose”, could fetch $23 millon-$38 million at the Geneva sale.

Bidding opened at $16 million and climbed to the final hammer price of $21 million, plus commission. It was bought by a telephone bidder who chose to remain anonymous, Sotheby’s said.

Jewellery expert Benoit Repellin, who led the sale, said it set a record for a diamond graded fancy vivid purple pink sold at auction. The stone weighing 14.83 carats was the largest pink diamond with that colour grading to go on the block.

The diamond was named after a ballet performed by the Ballets Russes and its legendary dancer Vaslav Nijinsky in 1911.

Mined by Russian diamond producer Alrosa in July 2017, it was cut from the largest pink crystal ever found in the country, Sotheby’s said.

The diamond was shown in Hong Kong, Singapore and Taipei.

Coloured stones have been greatly valued as an asset class by the super rich in recent years with top-quality pink diamonds especially prized.

The Argyle mine in western Australian, which produced the world’s largest supply of pink diamonds, halted production last week due to depletion.

“The lucky buyer could well profit from prices soaring for pink diamonds in the coming years thanks to increased rarity,” Tobias Kormind, managing director of 77 Diamonds, Europe’s largest online diamond jeweller, said in a statement.

Naturally coloured diamonds occur because they possess a particular lattice structure that refracts light to produce coloured, rather than white, stones.

Comments

Afzaal Ansari Nov 12, 2020 02:08pm
Such a miracle of the nature which now enjoying the buyer
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M. Saeed Nov 12, 2020 03:15pm
After all, it is a stone and Rs. 4.6 billion is completely insane price for a stone.
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M. Emad Nov 12, 2020 03:45pm
Koh-i-Nur (Kohinoor) --- the most valuable and one of the largest cut diamonds in the world, and now part of the British Crown Jewels --- should be returned to India, Pakistan or Bangladesh ?
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NACParis Nov 12, 2020 08:03pm
Surely the buyer is neither Zardari nor Nawaz?
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Syed Hafeez Imran Nov 13, 2020 01:21am
@M. Emad why bangla desh what is you logice
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Syed A. Mateen Nov 13, 2020 12:47pm
The buyer of the pink diamond has made an investment to re-sell it in the open market on a higher price, instead of investing in a real estate project during Covid-19. Under the present circumstances the buyer can not use to wear the diamond in a ring and put it in her finger due to social distancing every where in the world.
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