Sotheby's hints at records for rare pink diamond

10th November 2010, Comments 0 comments

A rare pink diamond that is regarded as one of the most desireable and beautiful in the world could reach records when it goes under the hammer in Geneva next week, Sotheby's said on Wednesday.

The auctioneers have valued the 24.78 carat Fancy Intense Pink diamond mounted on a ring at 27 million to 38 million dollars (20 million to 28 million euros) ahead of the sale on November 16 in a luxury lakeside hotel.

David Bennett, chairman for Europe and the Middle East at Sotheby's international jewellery department, called it "one of the purest diamonds," as it went on show in the Swiss city.

The "flawless" emerald-cut gemstone, which forms the centrepiece of the 500 lots in Sotheby's auctions of rare and precious jewellery next week, is rated among a type that accounts for just two percent of diamonds.

It was last seen on the market about 60 years ago when it was sold by legendary US jeweller Harry Winston and kept in a private collection since then, a feature that is adding to its value.

"It's very wearable and the perfect size," said Bennett.

"It's a stone that has huge character and appeal."

Bennett told journalists that pink diamonds are prized by collectors and the trade since they were discovered in India.

Other lots on sale next week have historic celebrity value, including jewellery that belonged to Cristina Onassis, Cristina Ford, wife of Henry Ford II, grandson of the founder of the Ford Motor Company, as well as items that belonged to Abbas Hilmi II (1874-1944), the last Khedive or viceroy of Egypt and Sudan.

Several elite auctioneers including rivals Christie's hold glittering jewellery and watch sales twice a year in Geneva's luxury hotels during a week in the spring and in the autumn.

© 2010 AFP

0 Comments To This Article