Sotheby's to Auction Most Valuable Pink Diamond

As recently reported in the Jewelers Circular Keystone Online and spread industry-wide by Raymond Lee Jewelers of South Florida, if you are a lover of diamonds and all things beautiful, you need to be aware of a wonderful diamond going up for auction. It has been announced that the great auction house of Sotheby’s is putting an extraordinary rare pink diamond up for auction later this year. Named the “Pink Star,” this diamond’s size, quality and color are what make it so unique in the world of beautiful gemstones. This sale will take place at Sotheby’s “Magnificent Jewels” auction in Geneva on November 13, 2013.

Sotheby’s anticipates that this sale will make the record books because of both the size of the stone, which is reported to be a 59.6 ct. oval-cut pink diamond, and also because of its exquisite color and brightness, which have received the GIA’s highest color and clarity grades for pink diamonds. It also is an ultra-rare Type IIA diamond, meaning it is more chemically pure than other stones. This purity gives the stone greater optical transparency than ordinary diamonds. Because of its beauty and purity it has been deemed to be the largest internally flawless fancy vivid pink diamond officially graded by the Gemological Institute of America (GIA). Sotheby’s has stated that they believe this diamond to be the most valuable diamond to ever be sold at auction.

The auction house estimates the sale price will be over $60 million. Currently, the record price per carat for a pink diamond is $2.1 million, which the pink star diamond is believed to be able to beat. That price was set by a smaller diamond several years ago.

The Pink Star is additionally noteworthy because of its superb quality. It has received the GIA’s highest color and clarity grades for pink, but it is also an ultra-rare Type IIA diamond, meaning it is more chemically pure than other stones and has greater optical transparency. It is also the largest internally flawless fancy vivid pink diamond that the Gemological Institute of America (GIA) has ever graded.

Pink diamonds being found in nature are a rarity, reports GIA senior vice president in a comment made to Sotheby’s, the hosts of the future auction. If a large pink diamond appears at all, it rarely possesses intense color such as the Pink Star does. Moss further stated that “the GIA Laboratory has been issuing grading reports for 50 years, and this is the largest pink diamond with this depth of color [vivid pink] that we have ever characterized.”

The reporting source of this information is the establishment of Raymond Lee Jewelers. This matchless store is known to offer to its community South Florida’s most trusted Jewelry Sales and Service Center. Established in 1983, the store carries not only diamonds and fine gems, but also a fill complement of fine jewelry and offers you an extensive collection of designer jewelry, vintage jewelry, GIA certified diamonds and luxury timepieces. Raymond Lee Jewelers provides professional jewelry and watch repair services, as well as professional jewelry customizations.