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Bloomberg.com September 25, 2013 by Scott Reyburn
A 59.60-carat pink diamond is estimated to raise more than $60 million, a record for any gemstone at auction, when it is sold in Switzerland in November.
The oval-cut stone, the largest internally flawless fancy vivid pink diamond ever graded by the Gemological Institute of America (GIA), will be sold by Sotheby’s in Geneva on Nov. 13, the New York-based auction house said today in a statement.
"The Pink Star," a 59.60-carat colored diamond. The oval-cut stone, the largest internally flawless fancy vivid pink diamond ever graded by Gemological Institute of America (GIA), is estimated to raise more than $60 million -- a record for any gemstone at auction -- when it is sold by Sotheby's in Geneva on Nov. 13. Photographer: Alastair Laidlaw/Sotheby's via Bloomberg. The sale of the ``Pink Star” will follow a Sotheby’s auction in Hong Kong in October containing a white and a blue diamond valued at more than $28 million and $19 million each.
“This is a good time to sell important stones at auction,” the Karlsruhe-based jewelry dealer Otto Jakob said in an interview. “Wealthy people with a lot of cash fear their money is endangered. They’re putting it into goods.”
Investment-grade diamonds attract buyers as both status symbols and hedges against volatility in the financial markets. Colored stones, which account for about 0.01 percent of mined production, are prized for their rarity and command the highest price per carat.
“Over the last five years buyers in Asia have built up stocks of diamonds,” said Jakob, who exhibits at the annual TEFAF fair in the Dutch city of Maastricht. “That’s reduced the number on the market and prices have increased a lot. There’s a lot of demand for the highest quality colored stones.”
Manaco Exhibition
Entered by an unidentified seller, the “Pink Star” was mined by De Beers in Africa. It was cut and polished by Steinmetz Diamonds for two years before being exhibited in Monaco in 2003.
That year, it was included in the “Splendor of Diamonds” exhibition at the Smithsonian Institution in Washington, alongside the De Beers Millennium Star, the Allnatt diamond, and the Moussaieff Red.
The diamond, initially known as “The Steinmetz Pink,” was sold privately in 2007 for an undisclosed amount and subsequently renamed.
The “Pink Star” is more than twice the size of the 24.78-carat “Graff Pink,” which sold for a record $45.6 million at Sotheby’s (BID) in Geneva in 2010. If the Pink Star finds a buyer, pink diamonds will have set all three of the highest auction prices for gemstones sold at auction. The 34.65-carat “Princie” fancy intense pink raised $39.3 million at Christie’s International in New York in April.
Pink diamonds are Type II stones that derive their color from the process known as plastic deformation, whereby pressure changes create structural anomalies during the crystal growth.
The inherent desirability of pink as a color has been enhanced by the publicity surrounding certain specific diamonds.
The “Pink Panther” was a fictitious gemstone that featured in the 1963 movie of that title starring Peter Sellers.
Hollywood actor Ben Affleck presented Jennifer Lopez with a 6.1-carat pink diamond engagement ring from Harry Winston in 2002.
Muse highlights include Martin Gayford on art and Frederik Balfour on Chinese auctions.
To contact the writer on the story: Scott Reyburn in London at sreyburn@hotmail.com.
To contact the editor responsible for this story: Manuela Hoelterhoff at mhoelterhoff@bloomberg.net.
http://bloom.bg/1eG6Svi
Step into the mesmerizing world of natural Pink diamonds, synonymous of elegance and sophistication. These exquisite gems have stolen the spotlight in the realm of fine jewelry, captivating the hearts of fashion enthusiasts around the globe.
In this article, we’ll explore the enchanting features of Fancy Pink diamonds, uncovering their origins, possible tones, and the growing fascination around them. As we delve into their unique characteristics, you’ll learn how they compare to other popular pink gemstones, revealing the distinct advantages that set them apart.
The Origin Of Their Mesmerising Hues
Fancy Pink diamonds are the result of a remarkable geological process that lasted millions of years. During their formation process, atomic traces of minerals such as hydrogen, nitrogen, or boron were introduced into their crystalline structure, resulting in impressive hues.
However, another scientific theory states that the pink hue comes from a deformation in the crystal lattice of the stone, a phenomenon caused by extreme pressure.
Whichever the cause, thanks to our Earth’s natural transformations, today we get to enjoy the exceptional shades of Pink diamonds.
From delicate pastel tones reminiscent of blooming cherry blossoms to intense, vivid shades that command attention, natural Pink diamonds offer a diverse palette of hues that ignite the imagination.
Rarity And A Growing Fascination
The allure of these unique stones lies not only in their enchanting beauty but also in their rarity.
As luxury enthusiasts and jewelry connoisseurs seek to come in possession of the most exclusive and coveted pieces, the interest surrounding fancy pink diamonds continues to grow. With the recent closure of the renowned Argyle mine in Australia, a significant source of Pink diamonds, their scarcity has skyrocketed.
Pink Diamond’s Unparalleled Properties
Brilliance
The refractive index of a diamond is approximately 2.42. This high refractive index is one of the factors that contribute to the exceptional brilliance and sparkle that diamonds are renowned for. The high refractive index allows diamonds to bend and reflect light in a way that creates maximum dispersion and brilliance, resulting in their captivating play of light and fire. It is this unique optical property that sets diamonds apart from other gemstones and contributes to their timeless allure and desirability.
Hardness
Diamonds are renowned for their exceptional hardness, ranking 10 on the Mohs scale, which is the highest possible rating. This remarkable property makes diamonds highly resistant to scratching and abrasion, ensuring their longevity and durability even with daily wear.
The hardness of a diamond contributes significantly to its value. Diamonds are prized for their ability to withstand the rigors of everyday use without losing their beauty or succumbing to damage. This durability ensures that diamond jewelry, such as engagement rings and heavily worn pieces, can be cherished forever and passed down through generations.
What About Other Pink Gemstones?
Tourmaline
This pink gemstone is often used in jewelry for its vibrant color. Pink tourmaline can be found in various parts of the world, including Brazil, Afghanistan, Mozambique, and the United States. Each location may produce unique variations in color and quality, making it more complicated for the regular customer to understand how to measure and compare characteristics.
Tourmaline ranks 7 to 7.5 on the Mohs' scale of hardness, making it moderately durable, but relatively softer compared to Pink diamonds. With a refractive index between 1.624 and 1.644, pink tourmaline exhibits a good amount of brilliance and light dispersion.
Pink quartz
This mineral showcases a soft, delicate pink hue that does not typically offer much sparkle. There are multiple levels of transparency available, from very translucent to milky opaque or smoky with yellow or brown undertones.
Scoring a 7 on the Mohs scale, pink quartz is relatively durable and suitable for some types of jewelry. However, it is still important to protect it from impact, and best suitable for earrings and low-wear pieces.
Pink Sapphire
The intensity of its color depends on the place of origin and the combination of trace elements present within its crystal structure.
With a hardness of 9 on the Mohs scale, pink sapphires are very durable and resistant, making them suitable for all kinds of jewelry pieces. However, they are more prone to scratches than diamonds.
Kunzite
Kunzite is quite affordable because it’s relatively unknown although it can be found in many places like Afghanistan, Brazil, Madagascar, and the USA.
Like most color stones, kunzite can be undergo irradiation or heat treatments to enhance its color. Exposure to heat and bright light can cause color in both natural and treated kunzite to fade over time.
Morganite
Most morganite deposits are found in Brazil, but the highest quality specimens come from Madagascar. Typically, morganite enjoys a high transparency with minimal inclusions resulting in clear, polished stones.
Scoring a 7.5 to 8 on the Mohs scale, Morganite is safe and durable enough for jewelry.
Your Best Choice: Pink Diamonds
There are multiple options to choose from to create a jewel with pink gemstones. However, they all fall short when compared to the durability and brilliance of natural Pink diamonds. With sources becoming more scarce while demand continues grows, Pink diamonds keep appreciating in value making them a better financial choice when compared to other gemstones which tend to loose value in the resale marker. Pink diamonds present multiple advantages for their investment potential and as a valuable asset to be passed on for generations.
When purchasing color gemstones, it’s important the buyer requests a professional laboratory report that discloses any enhancements to make an informed decision. Unfortunately for most consumers, it’s hard to find full-detailed information on a finished jewelry piece and it requires additional effort and inquiries to confirm the quality of a gemstone.
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Langerman Diamonds has over 50 years of expertise in sourcing and trading natural color diamonds. Explore our online inventory and contact us to learn more about the purchasing process.