Sotheby’s has announced that “The Spirit of the Rose”, a rare pink diamond, will be up for auction in Geneva on November 11. This stunning 14.83-carat gem is expected to fetch between $23 and $38 million, making it the largest fancy vivid purple-pink diamond ever to be auctioned.
Pink diamonds are extremely rare in nature, especially in larger sizes, with only one percent of all pink diamonds exceeding 10 carats. This makes “The Spirit of the Rose” even more exceptional and highly sought after by collectors and connoisseurs alike.
The oval-shaped pink diamond, which was mined by Alrosa in the Republic of Sakha in 2017, underwent a meticulous year-long cutting process to achieve its polished finish. Benoit Repellin, head of fine jewelry auctions at Sotheby’s Geneva, emphasized the exceptional purity and beauty of the diamond, adding to its allure.
The current world auction record for diamonds, gemstones, or jewels is held by the “CTF Pink Star”, a 59.60-carat oval pink diamond that was sold for $71.2 million in Hong Kong in 2017. Pink diamonds continue to command top prices in the market, with five out of the 10 most valuable diamonds ever auctioned being pink.
This auction comes at a significant time, as the world’s largest pink diamond mine in Australia is set to close. The Argyle mine, located in the Kimberley region of Western Australia, has been the source of over 90 percent of the world’s pink diamonds. With its closure, the diamond industry will see the end of an era in pink diamond production.
To learn more about the fascinating world of pink diamonds, you can visit the official Sotheby’s auction page here or explore the history and significance of pink diamonds at the Gemological Institute of America’s website here.
