Editor’s Note
This article explores the timeless appeal of diamonds, examining how their enduring beauty and symbolic value have cemented their status as a universal emblem of love and commitment.
“Diamonds are forever.” With their unique beauty and unchanging value, diamonds have long been a coveted mineral for people of all ages and genders. Symbolizing eternal brilliance, they have stood tall as the ultimate gift for marriage proposals or wedding presents worldwide.
The price of diamonds varies greatly depending on the type and quality of the rough stone, its cut, size, and other factors. Some are so rare and valuable, commanding prices in the billions of won, that they constantly attract envious attention and frequently change hands for record sums.
Recently, the record price for a diamond has been broken again, creating a buzz. An 18.96-carat diamond named ‘Pink Legacy’, meaning pink heritage, was sold for 50,375,000 Swiss francs at a Christie’s auction in Geneva, Switzerland, on the 13th (local time). Converted to Korean won, this amounts to a staggering approximately 57.4 billion won.
According to AFP, the Pink Legacy, which fetched this enormous price, is an emerald-cut pink diamond that received the highest grade of ‘Fancy Vivid’ in both color and intensity. As the highest-graded pink diamond, the Pink Legacy is praised by many jewelry experts as one of the world’s greatest diamonds, possessing a value that shines even brighter than existing diamonds.
Pink diamonds themselves are not abundant. Only four have ever been offered at auction, and with this latest sale, the Pink Legacy has set a record price, elevating it to an exceptionally rare status. Before the Pink Legacy, the top position among pink diamonds was held by the 15-carat ‘Pink Promise’, which sold for $32.5 million (about 36.8 billion won) at a Christie’s auction in November last year.
The Pink Legacy, which has now reached the pinnacle, also holds significant historical value. It was first discovered in South Africa a full 100 years ago and was cut into its current shape in the 1920s. Its shape has remained unchanged since, and it is particularly valued for being chemically pure, containing almost no nitrogen. The emerald cut of the Pink Legacy is also praised as a rare, classic cut for a pink diamond.
So, who is the new owner of this highly valuable Pink Legacy? It was originally owned by the Oppenheimer family, founders of the world’s largest diamond trading company, De Beers, but the subsequent owner had not been disclosed. In this auction, the American luxury brand Harry Winston acquired the ultra-luxurious pink gem for a price reaching 60 billion won. The name ‘Pink Legacy’ was given by Harry Winston after winning the auction.
With the year-end season of many celebrations approaching, the ‘Pink Legacy’ has captured significant attention. The world’s diamond enthusiasts are watching with sparkling eyes to see from which country and under what name the next record-breaking price for this coveted gem will come.