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Wednesday, November 14, 2018, 10:03
Pink diamond sells for more than US$50m, setting world record
By Associated Press
Wednesday, November 14, 2018, 10:03 By Associated Press

In this Nov 8, 2018 file photo, a Christie's employee displays an 18.96-carat fancy vivid pink diamond during a preview at Christie's in Geneva, Switzerland. Christie's sold the "Pink Legacy" diamond at auction Nov 13 for more than US$50 million including fees, saying it's a new world record price per carat for a pink diamond. Christie's said that renowned jeweler Harry Winston was the buyer. (MARTIAL TREZZINI / KEYSTONE / AP)

GENEVA — Christie's sold the "Pink Legacy" diamond at auction Tuesday for more than US$50 million including fees, saying it's a new world record price per carat for a pink diamond.

Christie's said renowned jeweler Harry Winston was the buyer. The auction house had expected to fetch US$30 million to US$50 million for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever put under the hammer.

ALSO READ: Christie's to auction pink diamond that could fetch US$50M

It was the standout offering at Christie's fall jewelry auction in Geneva. The standing-room only ballroom broke into applause after the auctioneer struck down a hammer price of US$44.5 million. That excludes the standard "buyer's premium" and other fees.

All told, the diamond went for US$50.375 million, including the fees.

The stone once belonged to the Oppenheimer diamond family, and Christie's says it's among the most chemically pure gems — with little if any nitrogen.

An 18.96-carat fancy vivid pink diamond is shown on display during a preview at Christie's in Geneva, Switzerland, Nov 8, 2018. It is estimated to sell between US$30-US$50 million. The auction will take place in Geneva, on Nov 13. (MARTIAL TREZZINI / KEYSTONE / AP)

Rahul Kadakia, Christie's head of international jewelry, said the auction house has sold only four diamonds weighing more than 10 carats of the same color in its 251 years in business.

Christie's chairman for Europe, Francois Curiel, called the stone the "Leonardo da Vinci" of diamonds.

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"The 'Pink Legacy' ... brought this extremely high price of US$50 million — so US$2.6 million per carat, which is a world record price for a pink diamond. The previous record was US$2.1 million, but for a much larger stone: Over 50 carats," Curiel said.

Christie's sale kicks off two days of jewelry auctions in Geneva. On Wednesday, Sotheby's will auction jewelry once owned by French Queen Marie Antoinette that hadn't been seen in public for 200 years.

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