A 10.57 carat, exceptionally rare pink diamond is headed to the auction block and could fetch record prices when it goes up for bids in June.
The diamond, known as “The Eternal Pink,” could sell for more than $35 million, said Sotheby’s. Before it hits the block, though, it will hit the road for a preview tour, stopping in Hong Kong, Dubai, Singapore, Shanghai, Taiwan and Geneva.
The auction will take place June 8 in New York.
Introducing The Eternal Pink, the most vivid pink diamond to ever come to market.
— Sotheby's (@Sothebys) March 29, 2023
Carrying the highest price per carat estimate ever placed on any diamond or gemstone, The Eternal Pink is expected to achieve in excess of $35 million this June at #SothebysNewYork. pic.twitter.com/BBGvdv7BPL
"This color is the most beautiful and concentrated shade of pink in diamonds that I have ever seen or has ever come to market," said Quig Burning, Sotheby’s head of jewelry for the Americas. "The Eternal Pink's immense presence and great rarity make it comparable to ultimate masterpieces of art — far rarer than a Magritte or a Warhol."
Diamonds of any color are rare, with just 3% of those submitted to the Gemological Institute of America showing those qualities. Pink diamonds are the rarest of the rare.
The Eternal Pink was first discovered four years ago in Botswana. What makes it a specimen the gem world is excited about is its intensity. The clarity has been classified as “internally flawless,” meaning no blemishes are visible under 10X magnification.
And while Sotheby’s might have a $35 million estimate on it, which works out to $3.3 million per carat, bids will likely go much. Last year, another pink diamond sold in Hong Kong for $5.2 million per carat.
Should bids reach that price point, the gem’s price could top $55 million.
