Web Desk(September 25, 2018): A large pink diamond a could become one of the most expensive gems ever sold at auction, estimated to fetch up to $50 million next month in Geneva.
The 18.95 carat, fancy vivid pink stone is a rectangular cut and is called The Pink Legacy. Christie’s will put it up for auction Nov. 13 at its Magnificent Jewels Sale in Geneva, with an estimate sale price of $30 million to $50 million, according to Christie’s.
The Pink Legacy, an extraordinary 18.96-carat jewel, is the largest Fancy Vivid Pink #diamond ever offered at Christie’s and will lead the Geneva Magnificent Jewels auction this November https://t.co/aXsgtQ64xY pic.twitter.com/LTCRtbPmCk
— Christie’s (@ChristiesInc) September 25, 2018
Fancy vivid pink diamonds are extremely rare, especially those more than a carat or two. Only four over 10 carats in size have ever come up for auction in 250 years, Christie’s said. The Pink Legacy also has a type IIA classification, meaning it is among the most chemically pure diamonds.
The gem traces its history to the Oppenheimer family, which adds to its worth. The famed South African diamond dynasty controlled much of the world’s trade over three generations. Nicky Oppenheimer sold the family’s 40 percent stake in diamond mining company De Beers Group for $5.1 billion to Anglo American in 2011, after taking De Beers private in 2001.
The second most expensive diamond ever sold is the Oppenheimer Blue diamond, which had also been in the Oppenheimer family, sold for $57.2 million in 2016. If the Pink Legacy fetches $50 million, it would become the third most expensive ever auctioned.
