"The Pink Promise" Diamond Ring Fetches US$32 Million

Watches & Jewellery

November 29, 2017 | BY Charlene Co

Christie's nearly breaks a record with the sale of a fancy vivid pink diamond

A 14.93-carat fancy vivid pink diamond sold for HK$249,850,000 (or close to US$32 million)—which comes to HK$2.14 million per carat—at a Christie’s auction in Hong Kong.

Said to be the most expensive jewellery piece ever to be offered at a Christie’s Hong Kong auction, the oval-shaped VVS1 diamond—otherwise known as “The Pink Promise”—fell well within its estimated sale price, which was between US$28 and US$42 million.

 

The Pink Promise (Photo: Courtesy of Christie's)

While it made for an exhilarating bid, the price didn’t quite break the previous world record for the most expensive pink diamond per carat, which is held by a cushion-shaped fancy vivid pink diamond that sold for HK$2.155 million per carat in 2009.

While there are sporadic pink diamond finds around the world, the largest source for pink diamonds is the Argyle mine in Australia.

And as its deposits are nearly depleted, they remain the rarest and most valuable of all fancy diamonds.

See also: Christie's Magnificent Jewels Autumn Sale