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Pink Diamond Sets Record at Sotheby’s

posted Nov 17, 2010, 3:37 PM by Alex Barcados

Sotheby’s set a new record for a jewel sale when an exceptionally rare 24.78-ct. pink diamond sold for $46.1 million at a Geneva auction on Nov. 16.

Photo Courtesy of Sotheby’s

The number was well above the stone’s pre-sale estimate of $27 million to $38 million.  

Four bidders competed for the gem, which last appeared on the market 60 years ago. The diamond was finally won by Patti Wong, Sotheby’s chairman for Asia, bidding on behalf of British diamond magnate Laurence Graff.

The emerald-cut stone, mounted as a ring, was part of Sotheby’s Magnificent Jewels sale, which raised $105,047,918—the highest total ever for a jewelry auction.

By JCK Staff