【Geneva, Swit】Le Pink Legacy: An Exceptional Pink Diamond for Sale in Geneva

Editor’s Note

This article highlights the exceptional nature of an 18.96-carat pink diamond, a true rarity in the world of gemstones. As Christie’s specialist Jean-Marc Lunel notes, its size alone makes it an extraordinary find, far surpassing the typical weight of most pink diamonds.

Le Pink Legacy, un diamant rose exceptionnel de près de 19 carats - ici le 8 novembre 2018 à Genève - sera mis aux enchères le 13 novembre à Genève par Christie's pour un prix estimé entre 30 et 50 millions de dollars
A Rare and Substantial Gem
“Its weight is precisely 18.96 carats. Considering that most pink diamonds weigh less than one carat, this is a truly considerable weight,”

explained Jean-Marc Lunel, Christie’s international jewelry specialist, to AFP.

“It must be understood that this one is absolutely extraordinary and is probably the most beautiful ever presented at a public auction. Therefore, all hopes are permitted for the sale of this stone on Tuesday,”

he assured.

Oppenheimer Provenance and History

This “fancy vivid” pink diamond, the highest grade of color intensity, belonged to the Oppenheimer family, which led the De Beers mining company for several decades.

“This diamond comes from the mines of South Africa. It was cut a very long time ago: it was discovered about a century ago, it was probably cut in the 1920s,”

and has not been recut since, explained Mr. Lunel.

“Imagine a domino whose corners you would have cut off… Its cut is quite classic, what we call an emerald cut, whereas most diamonds cut today have modified cuts with more facets,”

he specified.

According to Christie’s, the Pink Legacy was owned by the Oppenheimer family for decades, although the auction house does not wish to reveal the name of the stone’s current owner.

High Valuation and Market Context

It is estimated to be worth between 30 and 50 million dollars (between 26.5 and 44.1 million euros).
The range may seem very wide, but

“it’s true that there is no established price for these diamonds”

given their rarity, noted Mr. Lunel, specifying that in such cases, experts base their estimates on

“the few diamonds of similar appearance that have been sold previously.”

A historic record was reached on the international diamond market in November when Christie’s sold “The Pink Promise,” an oval-shaped fancy vivid pink diamond of just under 15 carats for 32.48 million dollars, which remains to this day a world record per carat for a pink diamond (2.17 million per carat).
In 2013, a very large pink diamond of 59.60 carats was sold by Sotheby’s for 83 million dollars, or 1.39 million per carat.

Other Highlights of the Auction

Other diamonds and jewels will be offered at Tuesday’s auction, including three pieces signed JAR (the initials of Joel Arthur Rosenthal), a cult American jeweler based in Paris whose pieces are highly sought after because this creator only works for his friends or their close ones. For example, a butterfly-shaped brooch, adorned with colored diamonds, is estimated between 400,000 and 600,000 dollars.
Another JAR-signed brooch in the shape of a flower, in blue and mauve tones, is estimated between 800,000 and 1.2 million dollars.
Furthermore, a pearl necklace, which belonged to Horace Elgin Dodge, co-founder of the American automobile company Dodge, is estimated between 600,000 and 800,000 dollars.

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⏰ Published on: December 25, 2018