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Thursday, November 30, 2023

Pink diamond sells for record £26m

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A rare pink diamond has smashed the world record for a jewel at auction by selling for more than $46 million (£29m) to a well-known gem dealer.

The 24.78-carat fancy intense pink diamond sold in Geneva for $46,158,674, easily topping the $24.3m (£15.3m) reached by the blue 35.56-carat Wittelsbach-Graff diamond in 2008, said auction house Sotheby’s.

Both jewels were purchased by London-based jeweller Laurence Graff.

“This is the highest price ever bid for a jewel at auction,” said David Bennett, the head of Sotheby’s jewellery division, as the auction room in Geneva’s luxury Beau Rivage hotel erupted into applause.

Mr Graff raised eyebrows when he had the blue diamond recut after purchase, to the displeasure of purists who considered it an act of vandalism against a unique object.

It wasn’t immediately known whether he planned to alter the pink diamond, which Sotheby’s says has a flaw unnoticeable to the naked eye but may be graded as internally flawless after re-polishing.

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