Auctions

Harry Winston Just Acquired the ‘Pink Legacy’ for $50 Million

AuctionsNov 14, 2018

Harry Winston Just Acquired the ‘Pink Legacy’ for $50 Million

Sold at Christie’s Geneva Tuesday, the 19-carat stone broke a price-per-carat world auction record for a pink diamond.

At Christie’s Geneva’s Magnificent Jewels sale, the 19-carat Pink Legacy broke an auction world record for price per carat for a pink diamond when it sold for $50.4 million.

Geneva—Christie’s Magnificent Jewels sale held Nov. 13 in Geneva garnered more than $110 million, and nearly half of that was due to a very special pink diamond.

The Pink Legacy, the 18.96-carat rectangular-cut fancy vivid pink diamond, the largest and finest pink diamond Christie’s has offered at auction to date, is now part of the Harry Winston collection.

Christened the “The Winston Pink Legacy,” it sold to the iconic jeweler for $50.4 million, just exceeding its $30-$50 million pre-sale estimate.

It’s the most expensive pink diamond ever sold at Christie’s, and it set a world auction record for highest price per carat for a pink diamond.

Nayla Hayek, CEO of Swatch Group, which owns Harry Winston, said, “We are proud to continue in the Winston tradition of acquiring the finest gems in the world, and tonight The Winston Pink Legacy joins our incredible legacy collection, which began with the acquisition of the 101-carat, D Flawless, Winston Legacy diamond at Christie’s in 2013.”

Christie’s International Head of Jewelry Rahul Kadakia accepted the winning bid for the Pink Legacy after five minutes of “spirited bidding,” the auction house said.

“This exceptional diamond captured the imagination of international collectors across the globe, with over 30,000 people visiting Christie’s sale previews to see this remarkable stone,” Kadakia said. “It has taken its rightful place among the world’s greatest diamonds.”

The pink diamond previously belonged to the Oppenheimer family.

Christie’s said that, overall, its Magnificent Jewels auction sold 90 percent by value and 86 percent by volume, with signed jewels achieving particularly high prices.

A 1924 Art Deco Egyptian revival sautoir by Van Cleef & Arpels sold for $4,332,500, while an early 20th century steel and diamond Cartier tiara earned $492,500.

Four exceptional jewels by JAR were also hot items, with a multi-gemstone bouquet of violets brooch, created in 1993, fetching $732,500.

The Dodge Pearl Necklace, circa 1920, by Cartier well exceeded its $240,000 to $340,000 pre-sale estimate, garnering $1.2 million. The important piece was originally purchased by Horace Elgin Dodge, a founder of the Dodge Motor Car Company, for his wife Anna Thompson and, prior to that, are believed to have been in the collection of Empress Catherine II of Russia.

Ashley Davisis the senior editor, fashion at National Jeweler, covering all things related to design, style and trends.

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