Auctions

The 19-Carat ‘Pink Legacy’ Diamond Could Sell for $50M

AuctionsSep 28, 2018

The 19-Carat ‘Pink Legacy’ Diamond Could Sell for $50M

The largest and finest fancy vivid pink diamond ever offered by Christie’s will lead its Nov. 13 jewelry auction.

The 18.96-carat “Pink Legacy,” the largest fancy vivid pink diamond Christie’s has ever offered at auction, is expected to sell for between $30 million and $50 million in November.

Geneva—Another big pink diamond is heading to a jewelry auction this fall.

The 18.96-carat “Pink Legacy” will lead Christie’s Magnificent Jewels auction on Nov. 13 in Geneva. The diamond is expected to sell for between $30 and $50 million.

The rectangular-cut gem is the largest and finest fancy vivid pink diamond Christie’s has ever offered at auction, it said. (Note: It’s not the largest fancy vivid pink diamond to go to auction. That designation belongs to the 59.60-carat oval-shaped “Pink Star,” which Chow Tai Fook bought at Sotheby’s Hong Kong for $71.2 million in April 2017.)

Christie’s said in the press release announcing the stone’s sale that the Pink Legacy “descended” from the Oppenheimer family, of De Beers fame, but did not respond to inquiries asking for clarification by press time.

Pink diamonds of this size and color are extremely rare, with Christie’s noting that only four vivid pinks of 10+ carats have been offered at auction. Those stones have lit up auction houses in the past few years, reaching record prices as the popularity of pink diamonds soars.

In addition to the sale of the “Pink Star,” which reigns as the most expensive jewel ever sold at auction, Christie’s Hong Kong sold The Pink Promise” , a 14.93-carat diamond, in November 2017 for $32.5 million.

Christie’s said the Pink Legacy will be exhibited in Hong Kong, London and New York along with other highlights from the Magnificent Jewels auction before heading to Geneva for the November auction.

Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

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