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November 30, 2017

Pink Promise Diamond Sells for Nearly $31.2 Million

By Olivia Cuccaro

christie's hong kong pink promise diamond fancy vivid pinkThe sale of a 14.93-carat “fancy vivid pink” diamond was the highlight of the recent Christie’s Magnificent Jewels Hong Kong auction as it fetched just under $31.2m. On November 28, the Pink Promise Diamond sold for $31,861,000 to match the record per-carat price for a diamond of its kind.

A pink oval mixed-cut stone, the Pink Promise Diamond made its way from New York to Geneva before selling at the Hong Kong auction earlier this week. Designated “fancy vivid pink” by the Gemological Institute of America (GIA), the breathtaking stone is of the rarest and most valuable color grade in pink diamonds, but it didn’t start that way. The stone’s original owner, haute jeweler Stephen Silver, recut to the stone from its original 16.21-carat form to reveal its full, dazzling color potential.

The Pink Promise Diamond represents a major risk with a remarkable outcome. Where the Pink Promise Diamond was previously washed out, Silver worked with a GIA-certified gemologist to improve the color grade while maintaining the most carat weight — a process that took three years. The resulting 14.93-carat diamond finally earned its “fancy vidid pink” GIA certification, as well as the assessment of VVS1 clarity. With a grade just under flawless (meaning no imperfections are visible to the naked eye and nearly none can be observed under magnification) the diamond soared in appraisal value to reach its auction price of almost $31.2m.

This news comes just weeks after Christie’s auctioned off another astonishing jewel — the world’s largest D-flawless diamond known as Art de Grisogono — for a record-breaking sum.

For more information and news on upcoming auctions, please visit christies.com.

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