"Pink Legacy" diamond sells for more than $50M in new world record

The Pink Legacy has been described as ‘one of the world’s greatest diamonds

Once owned by the Oppenheimer Family, who built De Beers into the world's biggest diamond trader, the diamond had a pre-sale estimate of $30 to $50 million.

An exceptionally rare 19-carat pink diamond has fetched $50m (€44m) in Geneva, setting a new price-per-carat record for a stone of its kind, according to Christie's auction house.

Fancy-vivid pink diamonds rarely weigh more than one-fifth of a carat, and only four of such diamonds identified as over 10 carats have been offered for auction in nearly 250 years, according to Christie's.

Vivid colored diamonds are the most strongly saturated gems, displaying the optimum hue of the stone.

The Pink Legacy was bought by renowned jeweler Harry Winston.

Christie's worldwide head of jewelry, Rahul Kadakia, described The Pink Legacy as "one of the world's greatest diamonds".

It's the largest fancy vivid pink diamond they've ever sold.


The rectangular-cut stone was found in a South African mine around a hundred years ago and has likely not been altered since it was first cut in 1920, Christie's said.

"Imagine a domino that you have cut the corners off of", Jean-Marc Lunel, an worldwide jewellery specialist at Christie's, recently told AFP, pointing out that the cut is a "classical so-called emerald cut", which stands out from the typical, more rounded, multi-facetted cuts used today.

He pointed out that the cut is a "classical so-called emerald cut", which stands out from the typical, more rounded, multi-facetted cuts used today.

Bright pink diamonds are rare.

It was the standout offering Tuesday at Christie's fall jewelry auction in Geneva. The auction house had expected to fetch $30 million to $50 million for the almost 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever put under the hammer.

Bidding was fast and furious for the rare pink diamond known as the Pink Legacy.

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