Business

Ultra-rare Pink Legacy diamond fetches record $50 million

An exceptionally large pink diamond – nearly 19 carats – has set a price-per-carat record after being sold for $50 million to US luxury jewelry brand Harry Winston at the Christies auction in Geneva.

“The Pink Legacy brought this extremely high price of $50 million, so $2.6 million per carat which is a world record price for a pink diamond,” Francois Curiel, Christies chairman for Europe, told journalists.

“This stone for me is the Leonardo Da Vinci of diamonds, I dont think there is anything better.”

The previous record was reportedly established by a stone of more than 50 carats, which was sold at $2.1 million per carat.

The diamond was sold to US luxury brand Harry Winston, which is owned by the Swiss Swatch group. According to the auction house, the new owner of the Pink Legacy has promptly renamed the precious stone The Winston Pink Legacy, adding it to its collection of unique jewels.

The rare stone is categorized as a Fancy Vivid diamond, the highest grade of color intensity. Only one in one hundred thousand diamonds receive this grading. The size makes it an even more exceptional find, as Fancy Vivid Pink diamonds larger than 10 carats are “virtually unheard of,” according to Christies.

“You have to acknowledge first that the Pink Legacy diamond was a very special diamond,” Christies international head of jewelry, Rahul Kadakia, said.

“It is one of the best and finest examples of pink diamonds at this size and color and it proved it with a new world record price per carat.”

The auction house didnt disclose the name of the former owner of the huge stone.

Previously, the diamond was reportedly owned by the Oppenheimer family, which operated the De Beers diamond mines for three generations until selling the stake seven years ago.

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