19-Carat ‘Pink Legacy’ Diamond Could Fetch $50 Million

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“The discovery of this previously unrecorded and remarkable diamond will cause immense excitement with collectors and connoisseurs of diamonds around the world,” Rahul Kadakia, international head of Jewellery, said in a statement. “Its exceptional provenance will no doubt propel it into a class of its own as one of the world’s greatest diamonds.”

The Pink Legacy has been awarded the highest diamond color grading of “vivid” by the Gemological Institute of America. Vivid colored diamonds are the most strongly saturated gems, displaying the optimum hue of the stone. It is a classic rectangular cut diamond, a cut that is traditionally used for white stones. It is also internally very pure which is extremely rare in pink diamonds where the color is formed by pressure and slippage of the crystal lattice which typically causes imperfections in the stone. In addition, it classifies as a Type IIa diamond, which contains little if any nitrogen and accounts for less than two percent of all gem diamonds.

“Pink diamonds of any size and depth of color have always had a special allure even amongst knowledgeable industry members. The 18.96 carat emerald cut pink diamond is amongst the rarest of all gemstones,” said Tom Moses, GIA executive VP.

If the diamond reaches the higher end of its estimate it could challenge “The Pink Promise,” an oval-shaped fancy vivid pink diamond of just below 15 carats that sold in November, 2017, for more than $32.4 million. It set the world auction record price per carat for any pink diamond at more than $2.17 million per carat.

The highest overall price for a pink diamond is $71.2 million for the 59.6-carat “CTF Pink Star,” the most valuable gem or jewel sold at auction. It was sold in Hong Kong by Sotheby’s in April, 2017. The buyer for the fancy vivid pink diamond was Hong Kong-based jewelry retailer Chow Tai Fook.

The Pink Legacy will be exhibited in Hong Kong, London, New York and Geneva prior to its November 13 sale.

In a previous life I was an award-winning daily newspaper reporter who moved to business and trade magazines and who now specializes in high jewelry and watches for publications around the world.

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