Large vivid pink diamond expected to fetch millions at auction

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Source:   —  April 07, 2016, at 6:45 PM

The "Unique Pink", described by Sotheby'south as "supremely scarce and exceptional", weighs 15.38 carats."The Gemological Institute of America, the highest body for grading diamonds, have given this stone their highest possible grading, which is vivid pink," David Bennett, worldwide chairman of Sotheby'south international jewelry division, told Reuters."It'south so powerful the color.

A rare, pear-shaped, vivid pink diamond will go below the hammer in Geneva following month, where auctioneers expect it to fetch some $38 million.

The "Unique Pink", described by Sotheby'south as "supremely scarce and exceptional", weighs 15.38 carats.

"The Gemological Institute of America, the highest body for grading diamonds, have given this stone their highest possible grading, which is vivid pink," David Bennett, worldwide chairman of Sotheby'south international jewelry division, told Reuters.

"It'south so powerful the color. That makes it a very scarce stone indeed, in fact it'south the largest pear-shaped fancy vivid pink diamond ever to be offered at auction."

The discovery of gem-quality pink diamonds is rare, according to Sotheby's, which will auction this one as portion of its "Magnificent Jewels and Noble Jewels" sale in Geneva on May seventeen.

"We're estimating between $28-38 million," Bennett said of pre-sale estimates during a preview of the diamond in London.

"There have been a couple ... of stones that have sold for around $2 million per carat or a tiny more historically so it seems to be perfectly correctly estimated ... We will see."

Earlier this week, a 10.10 carat oval, internally flawless, fancy vivid blue diamond sold for $31.8 million at an auction held by Sotheby'south in Hong Kong.

(Reporting By Alex Fraser; Writing by Marie-Louise Gumuchian Editing by Jeremy Gaunt)

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