Monday, 14 October 2013

Flawless 59 carat pink diamond to set record

A flawless 59.6-carat pink diamond will be auctioned in Geneva at a record asking price of $60m (£38m).

Sotheby's auction house says the oval-cut stone will become the most valuable diamond ever to be offered at auction.
Sotheby's David Bennett says the diamond belongs in "the ranks of the earth's greatest natural treasures." He said "it was very rare to have vivid pink diamonds weighing only five carats, this 59.60 carat stone is simply off any scale." It is over twice the size of the 24.78-carat "Graff Pink" diamond that set the world auction record for $46.2m.

The gem, which was mined by De Beers in Africa in 1999, has received the highest possible colour and clarity rating from the Gemological Institute of America (GIA). It weighed 132.5 carats in the rough, and was cut and polished over a period of two years by Steinmetz Diamonds, the New York-based auction house said in a statement on Wednesday.

The diamond, which was previously known as the "Steinmetz Pink", was sold privately in 2007 but neither the price nor the owner was disclosed.