Diamond Sold For World Record $50 Million

The Record-Breaking Pink Legacy Diamond Christie’s has sold the “Pink Legacy” diamond at auction for more than $50 million including fees, saying it is a new world record price...

The Record-Breaking Pink Legacy Diamond

Christie’s has sold the “Pink Legacy” diamond at auction for more than $50 million including fees, saying it is a new world record price per carat for a pink diamond. Renowned jeweler Harry Winston was the buyer, the auction house said.

Christie’s had expected to fetch between $30 million and $50 million for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond it has ever put under the hammer. It was the standout offering at the autumn jewelry auction in Geneva. The standing only ballroom broke into applause after the auctioneer struck down the hammer at a price of $44.5 million.

The stone once belonged to the Oppenheimer diamond family, and Christie’s says it is among the most chemically pure gems, with little if any nitrogen. Christie’s chairman for Europe, Francois Curiel, called the stone the “Leonardo da Vinci” of diamonds.

He said: “The ‘Pink Legacy’ … brought this extremely high price of 50 million dollars – so 2.6 million dollars per carat, which is a world record price for a pink diamond. The previous record was 2.1 million, but for a much larger stone: Over 50 carats.”

Christie’s sale kicks off two days of jewelry auctions in Geneva. On Wednesday, Sotheby’s will auction jewelry once owned by French queen Marie Antoinette that had not been seen in public for over 200 years.

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