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Exceptional Australian pink diamond auctioned

 An exceptional pink stone, from the largest pink rough diamond ever discovered in Australian, was sold on the evening of Wednesday November 11 in Geneva by Sotheby's.

Named “Argyle Pink Diamond” after the famous Ballets creation, this 14.83-carat, marble-sized diamond is the largest in its class to ever be auctioned.

After a few minutes, this oval-cut diamond, auctioned online due to the coronavirus pandemic, was sold for 21 million Aussies Dollars, or $ 26.6 million including commission. The buyer wished to remain anonymous and bid over the phone.

A year of work to prune it

The auctioneer, Benoit Repellin, director of fine jewelry sales at Sotheby's in Geneva, stressed that this was a record for a purplish pink diamond. Before the sale, Sotheby's estimated it to be between $ 23 million and $38 million. This diamond, "entirely pure" , is exceptional in terms of its size and color, explained Mr. Repellin.

Found in the Republic of Sakha (Yakutia) in northeast Siberia in 2017 by the Australian group Alrosa, "The Specter of the Rose" was mined and cut from a 27.85 carat rough diamond - the largest pink rough diamond never discovered in Russia. It took a year of painstaking work to trim it to give it its shape while preserving its vibrant color.

Pink diamonds are the rarest and most coveted on the world market. The all-time auction record for a pink diamond is held by CTF Star Pink: $ 71.2 million in 2017 in Hong Kong. And five of the ten most expensive diamonds ever sold at auction are pink, according to Sotheby's. All have been sold over the past decade.

The sale of the "Specter of the Rose" comes days after the closure in early November of the world's largest pink diamond mine, located in Australia. This deposit (Argyle), which until recently provided more than 90% of the world supply of pink diamonds, is indeed exhausted.

How is a pink diamond created?

To form a pink diamond, specific and extreme geological forces must be present. These give the stone its characteristic pink color. The structure of diamond is also different from that of white diamond . The formation of pink diamond is different from that of blue diamonds or yellow diamonds where the presence of a chemical substance gives color.

The color pink has always been associated with innocence, gentleness and love . During the reign of Queen Elisabeth I in England (1558-1603) it was believed that the rose brought happiness and pleasure.

The value and benefits of a pink diamond

Pink colored diamonds are extremely rare and therefore very valuable . The most productive site is the Australian Argyle mine. The total production of this mine is 800 million carats of rough diamonds, but the share of pink rough diamonds is less than 1%. This is why there are diamonds "treated" with this color, almost indistinguishable from natural diamonds. This is clearly stated on the diamond certificate. Other gemstones such as ruby ​​and sapphire are also an option and are gaining popularity.

Pink diamonds have a very subtle color and are a variation of colorless diamonds. You can easily combine them with different types of rings like a halo ring or a loner.


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