HONG KONG — A 14.93-carat pink diamond sold at Christie’s auction for $32.16 million Tuesday, matching but not outdoing the world record for the price per carat of a pink diamond.
The “Pink Promise,” which went to an undisclosed buyer, attracted a valuation of $2.15 million per carat, equal to the record last set at Christie’s in 2009, although for a much smaller stone.
“The fact that this time around it was for a diamond three times larger, speaks to the evolution of the market and collectors’ appetite at the highest level,” said Vickie Sek, Christie’s deputy chairman and director of jewelry Asia.
The auction took place in Hong Kong with 140 buyers from 12 countries and representing four continents participating.
The stone was designed by Silicon Valley-based diamond collector Stephen Silver, who bought the original 16.10-carat fancy intense pink diamond in June 2013. However, the certified gemologist noticed that the way the stone was cut made some areas of the stone appear to be washed out. He trimmed the diamond down to 14.93 carats, but was able to improve its grading to a fancy vivid pink.
Anticipating its unrealized potential, Silver named the stone “The Pink Promise.”
“The work we did on this particular diamond was the most challenging recut in which I have been involved, due to the technical difficulty and large financial risk,” Silver said.
Mounted in platinum, the stone is “a cross between an oval and a marquise — what we call a ‘moval,’” said Rahul Kadakia, international head of Jewelry at Christie’s.
The highest amount paid for any cut diamond at auction is $71.2 million for the “Pink Star,” purchased by the Hong Kong jewelry chain Chow Tai Fook Jewellery Group in April.