Editor’s Note
The closure of the world’s primary source for pink diamonds has transformed gems like “The Spirit of the Rose” into exceptionally rare commodities, fueling record-breaking prices at auction. This article examines the forces behind their soaring market value.
This pink diamond is known as “The Spirit of the Rose”. Its market price is quite high because the mine supplying pink diamonds worldwide has closed, and this diamond has become a rare category.
An extremely rare, purple-pink colored diamond was auctioned for a record price of approximately 1.9 billion rupees. Sotheby’s auctioned this rare diamond in Geneva, Switzerland. This diamond was discovered in a Russian mine and, due to its beauty and uniqueness, is also called “a true miracle of nature”.
This 14.83-carat diamond named “The Spirit of the Rose” is one of the largest pink crystals found in Russia. It has an oval shape. According to Sotheby’s, it was estimated to fetch a price between 23.3 million and 38 million US dollars. Bidding for this diamond started at 16 million US dollars and stopped at 21 million US dollars. Including commission, this diamond sold for a record price. The buyer of this diamond bid via telephone and did not reveal their identity.
In recent years, it has been observed that naturally colored diamonds are not only preferred but are also purchased by the world’s wealthiest individuals. Unlike white diamonds, these stones are equipped with a special layer of foil capable of blocking light that affects the color.
The world’s most famous pink diamonds are found in Australia’s major Argyle mine, which is the largest supplier. However, in recent days, mining of such pink diamonds in the mine has almost ceased, leading to a halt in mining operations there.
The pink diamond was discovered in a mine by Russian diamond manufacturer Alrosa in July 2017. It has also been exhibited in major cities like Taipei, Hong Kong, and Singapore.
Sotheby’s says that among the ten most expensive diamonds sold to date, five were pink diamonds.