Largest and most expensive fancy vivid purple pink diamond has sold for $26m at auction in Geneva. “A smart investment” says jeweller
Sotheby’s Geneva has sold a 14.83-carat pink diamond for $26.6 million – a record price for a fancy vivid purple pink diamond at auction. The diamond, known as The Spirit of the Rose, the largest vivid-purple-pink diamond to ever appear at auction, was named after a 20th century Russian ballet and cut from a 27.85 carat clear pink rough, the largest pink rough diamond ever mined in Russia. I am writing because my client Tobias Kormind, the managing director of 77 Diamonds, Europe’s largest online diamond jeweller, can offer expert comment on this important auction result. If you are using the quote below, I’d be so grateful if you could include a link back to www.77diamonds.com
77 Diamonds managing director Tobias Kormind, who is now available for online and TV interviews, says:
“The buyer has made a smart investment move. It’s an incredibly desirable stone and the fact it’s both Internally Flawless and Purple-Pink in colour adds to the rarity – it’s the icing on the cake. On the one hand, there have been quite a number of record-breaking diamond auctions in recent months, but on the other hand there remains some uncertainty around the timing and economic fallout of the pandemic. The lucky buyer could well profit from prices soaring for pink diamonds in the coming years thanks to increased rarity with
Coming from Russian mining giant Alrosa, the stone’s name is inspired by the roses which adorned the costume of the Ballets Russes most beloved dancer in the early 20th century, Vaslav Nijinsky. Legend has it Vijinksky’s servant collected any petals that fell onto the stage floor and later sold them, using the profits to build himself a house. The auction of this stone demonstrates that not all the world’s important pink diamonds originate from Australia’s famous Argyle mine.”
Background facts
– The Spirit of the Rose is one of the three-stone Spectacle collection by Russian mining giant Alrosa. All three stones in this collection have been named in honour of the Russian Ballet.
– The other stones making up this collection include a yellow diamond sold to Graff in December and a third currently being manufactured by Alrosa.
– Nijinsky, the 27.8 5-carat clear pink rough from which the diamond was crafted, was unearthed in 2017 in the Ebelyakh mine in the Republic of Sakha (Yakutia) in northeast Russia
– The Spirit of the Rose was exhibited in Hong Kong, Taipei and Geneva prior to the sale.
– The current record for the most expensive pink diamond sold at auction is the 59.60 carat CTF Pink Star, sold at Sotheby’s Hong Kong in 2017 for $71.2m.
The Enchanting World of Purple Pink Diamonds: A Kaleidoscope of Rarity and Elegance
In the realm of precious gemstones, few captivate the imagination and allure of collectors quite like the purple pink diamond. A symphony of color, rarity, and sophistication, these diamonds stand as radiant anomalies in the world of gemology. In this exploration, we delve into the captivating story, unique characteristics, and the enduring allure of purple pink diamonds, unravelling the mystique that surrounds these exquisite gems.
## The Radiant Hue: Unveiling the Colors of Elegance
Purple pink diamonds are a mesmerizing fusion of hues, blending the regality of purple with the delicate charm of pink. This exquisite color combination results from specific geological conditions during the diamond’s formation, where elements like hydrogen and radiation interact with the crystal lattice structure, creating a breathtaking display of color. The intensity of these hues varies, with the most coveted diamonds exhibiting a vivid and saturated coloration that sets them apart from their counterparts.
The allure of the purple pink diamond lies not only in the harmonious blend of colors but also in the way they interact with light. A well-cut diamond will reflect and refract light in a way that enhances its color, creating a dazzling play of hues that captures the eye and ignites the imagination. The visual impact of a high-quality purple pink diamond is nothing short of enchanting, making it a coveted choice for connoisseurs and collectors alike.
## Rarity Unveiled: The Geological Ballet
Diamonds, formed deep within the Earth’s mantle over millions of years, undergo a complex journey before reaching the surface. The geological processes that give birth to purple pink diamonds are exceptionally rare, making these gems a true marvel of nature. The presence of specific trace elements, lattice distortions, and the right conditions for crystal growth contribute to the development of the distinct purple and pink hues.
It is estimated that only a tiny fraction of all diamonds unearthed possesses the unique characteristics required to be classified as purple pink. This rarity factor elevates them to a status of exclusivity, prompting fascination and desire among gem enthusiasts. The geological ballet that unfolds beneath the Earth’s surface results in the creation of these exceptional diamonds, each a testament to the intricate dance of elements and time.
## Size Matters: The Magnitude of Grandeur
In the world of diamonds, carat weight is often a determining factor in a gem’s value and appeal. Purple pink diamonds, when found in substantial sizes, become even more extraordinary. Their rarity increases exponentially with size, and the market eagerly anticipates the unveiling of large, high-quality specimens.
These grandiose purple pink diamonds, often showcased in museums, auctions, or adorning the most opulent jewelry, command attention and admiration. Their sheer magnitude adds a layer of exclusivity, making them not only rare but also symbols of luxury and prestige. Collectors and investors recognize the significance of acquiring a sizable purple pink diamond, understanding that these gems represent a fusion of rarity and grandeur.
## Notable Examples: Icons of Elegance
Several notable purple pink diamonds have etched their names in history, each contributing to the legacy of these extraordinary gems. One such example is the “Graff Pink,” a dazzling 24.78-carat pink diamond that set a world record when Laurence Graff acquired it at auction. The intensity of its color and flawless cut make it a beacon of elegance in the world of diamonds.
Another remarkable specimen is the “Pink Star,” a 59.60-carat oval-cut pink diamond that held the title of the most expensive diamond ever sold at auction for a period. Its vivid and homogeneous color captivated the world, showcasing the allure and desirability of large, high-quality purple pink diamonds.
## Cultural Significance: Elegance Across Generations
Beyond their geological and market value, purple pink diamonds hold cultural significance across various societies. In many cultures, the color pink is associated with love, romance, and femininity, adding a layer of symbolism to diamonds with this hue. Purple, often linked to royalty and luxury, further enhances the regal aura of these exceptional gems.
In the realm of jewelry design, purple pink diamonds are sought after for their ability to complement various metals and settings. From classic solitaires to intricate and contemporary designs, these diamonds lend an air of sophistication to any piece they adorn. Jewelers and designers, recognizing the timeless appeal of these diamonds, continue to incorporate them into their creations, ensuring that the elegance of purple pink diamonds transcends generations.
## Investment and Market Trends: Rarity as a Commodity
The rarity and desirability of purple pink diamonds have made them not only coveted gems but also sought-after investments. As with any rarity, the economic principle of supply and demand plays a significant role in determining their market value. With the limited availability of high-quality purple pink diamonds, the demand for these gems continues to grow, contributing to their status as a valuable commodity.
Investors and collectors alike recognize the potential for appreciation in the value of purple pink diamonds over time. The rarity factor, coupled with their timeless elegance, positions these gems as assets that transcend the fluctuations of other financial markets. As a result, purple pink diamonds have become a symbol of both aesthetic and financial sophistication.
## Ethical Considerations: Navigating the Diamond Landscape
While the allure of purple pink diamonds is undeniable, the ethical considerations surrounding diamond mining and trade cannot be overlooked. The industry has seen increased scrutiny in recent years, prompting a shift towards ethical and sustainable practices. Consumers and industry stakeholders are advocating for transparency in the supply chain, from mining to retail, to ensure that diamonds are sourced responsibly.
In response to these concerns, some jewelers now offer diamonds with certifications that guarantee ethical and environmentally conscious practices. Responsible sourcing initiatives aim to minimize the environmental impact of diamond mining and ensure fair labor practices. As awareness grows, consumers are empowered to make choices that align with their values, supporting ethical practices within the diamond industry.
## Future Horizons: Evolving Trends and Innovations
As we gaze into the future of purple pink diamonds, it’s clear that their allure will continue to shape trends and captivate the imagination. Advances in technology may offer new methods for enhancing color or identifying unique characteristics, providing both challenges and opportunities for the industry.
Designers and jewelers will likely continue pushing the boundaries of creativity, finding innovative ways to showcase the beauty of purple pink diamonds. As consumer preferences evolve, the market may witness a surge in demand for personalized and unique pieces that celebrate the individuality of each gem.
In conclusion, the world of purple pink diamonds is a kaleidoscope of rarity, elegance, and cultural significance. From the depths of the Earth to the grand stages of auctions and exhibitions, these gems continue to enchant and inspire. Whether celebrated for their geological origins, iconic examples, cultural symbolism, or investment potential, purple pink diamonds stand as timeless treasures that defy the constraints of time and fashion. As we navigate the ever-evolving landscape of the gemstone industry, the allure of these exquisite diamonds remains steadfast, weaving a narrative of beauty that transcends generations.
About 77 Diamonds
– 77 Diamonds is Europe’s largest online seller of diamond jewellery
– Clients include captains of industry and well-known TV personalities
– 77 Diamonds has an appointment-only showroom and workshop in Mayfair with additional showrooms in Manchester, Frankfurt and Berlin
