Magnificent pink diamond highlights Sotheby’s Geneva Magnificent Jewels sale

Sotheby’s Geneva is organising its sale of Magnificent Jewels, offering one of the most important and beautiful gemstones ever put up for auction: an exceptional magnificent pink emerald cut diamond, weighing 24.78 carats. It comes to the open market from a private collection and after 60 years since its purchase from Mr Harry Winston. The stone has been mounted as a ring, and assessed to be a member of the rare and coveted type IIa classification which comprises less than 2 percent of all of the world’s gem diamonds.

The rare pink diamond is of the purest, vibrant hue, and graded Fancy Intense Pink by the Gemological Institute of America (GIA). It is presently graded as VVS2 clarity, and as GIA states, it may be internally flawless after repolishing. The stone carries a pre-sale estimate of $27-38 million (CHF).

David Bennett, Chairman, Europe and the Middle East, Sotheby’s International Jewellery Department, states: “This stone is one of the most desirable diamonds I have ever seen. What makes it so immensely rare is the combination of its exceptional colour and purity with the classic emerald-cut – a style of cutting normally associated with white diamonds and one that is so highly sought-after when found in rare colours such as pink and blue. The stone’s character is further enhanced by the gently rounded corners which impart a unique softness and charm to this truly outstanding gemstone.”

The auction house believes the market for coloured diamonds is extremely strong, especially for blues, pinks and greens, owing to their extreme rarity. Also, as Sotheby’s Geneva has a successful track record in establishing world records for coloured diamonds, it is hopeful of repeating the same at this sale also.

The Magnificent Jewels sale is slated for November 16, 2010.