Editor’s Note
The failure of the “Raj Pink,” the world’s largest Fancy Intense pink diamond, to sell at Sotheby’s Geneva auction highlights shifting market dynamics and collector caution in the high-stakes world of rare gems.
The “Raj Pink”, the world’s largest Fancy Intense pink diamond which was meant to be the highlight of Sotheby’s November high jewellery sale in Geneva, failed to find a buyer on Wednesday, the auction house confirmed.
The “Raj Pink”, whose name derives from the Sanskrit word for king, weighs 37.30 carats and was estimated to be worth between 20 and 30 million dollars (approximately 17 to 25 million euros). Only a tiny fraction of diamonds mined worldwide have a pink hue, and within this colour category, the “Fancy Intense pink” grade is one of the most prestigious.
The Gemological Institute of America (GIA), which certified the diamond, had emphasized that “the brilliance, tone, and cut of this precious jewel (were) truly exceptional,” according to Sotheby’s.
However, on Wednesday evening, this jewel cut from a rough diamond discovered in South Africa in 2015 did not find a buyer. Consequently, the record price for a Fancy Intense pink diamond remains the “Graff Pink”, which was sold for 46.2 million dollars (34 million euros at the time) in 2010.
On Tuesday, Christie’s, the other major auction house also holding a high jewellery sale in Geneva in November, sold the largest diamond ever presented at auction—a flawless 163.41-carat stone—for nearly 34 million dollars (28.7 million euros). Christie’s called this a record price, but some market players were skeptical.
Tobias Kormind, Managing Director of 77 Diamonds, a major European online jeweller, expressed disappointment that the jewel “was not sold for more.”
Two other prestigious jewels, the Donnersmarck Diamonds, also failed to sell at Sotheby’s on Wednesday evening. Once part of the collection of the princely von Donnersmarck family, these two Fancy Intense yellow diamonds, weighing 102.54 and 82.47 carats, had belonged to La Païva, a famous Parisian courtesan in the mid-19th century.
Nevertheless, Sotheby’s clarified that its entire high jewellery sale on Wednesday generated approximately 67 million euros.