Rare and Expensive Pink Diamond Ring Expected to Fetch Millions of Dollars in Sotheby’s Geneva Auction

By on Nov 16, 2010 in Business, Headlines, Lifestyle, World Comments
Image credit: The Jewelry Blog

A ring with a 24.78 carat Fancy Intense Pink diamond mounted on it, is expected to break auction records in Geneva, according to international news reports. The rare pink diamond, believed to be the most desirable and beautiful in the world, is reportedly valued by auctioneers at around $27 Million to $38 Million. It will be up for sale on November 16, 2010 at Sotheby’s Auction. The stone has the size of a pinball or a large marble.

David Bennett of Sotheby‘s was quoted in hisĀ  interview with international news that the pink diamond ring is “one of the purest diamonds” . The rectangular pink diamond went on sale about 60 years ago when US jeweller Harry Winston sold the jewelry to an anonymous buyer. Bennett describe the ring as “very wearable and the perfect size” with “a stone that has huge character and appeal.”

Pink diamonds are reported to be discovered in India. Collectors from Asia and the Middle East are valuing colored diamonds higher. These colored diamonds usually come in blue, yellow and pink.

Based on previous international reports, the “Wittelsbachblue diamond, is the most expensive jewelry sold in an auction. The blue diamond was a 17th-century stone weighing 35.56 carats and was able to fetch $24.3-million in 2008 at Christie‘s auction. Christie‘s was able to sell a five carat pink diamond in Hong Kong in December 2009 for $10.8 Million.

The Sotheby‘s Geneva auction is expected to fetch $60 Million.

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