Wednesday, December 2, 2009
5-carat pink diamond
A rare, 5-carat pink diamond was auctioned off for a record $10.8 million in Hong Kong on Tuesday, putting some shine back into the world's rare and large stones market which was badly hit by the financial crisis.
The stone, of a "vivid pink" hue and considered near perfect, but not quite flawless, triggered brisk bidding in Christie's autumn sales of Asian and Chinese art in Hong Kong.
"No stone has ever been sold for $2 million a carat, we were used to ... a million dollars a carat for colored diamonds but never 2 million,"
The stone, set in a so-called "cushion-cut" ring by famed jewelers Graff Diamonds, was just a quarter the size of the Geneva stone and not quite flawless but the stone's "vivid pink" is considered near perfect.
While the South African-mined diamond isn't quite rated flawless given minor blemishes, Christie's said that these could be removed by minor repolishing.