Rare ‘Eternal Pink’ Diamond Expected to Fetch Over $35 Million at Auction

Introduction

A rare and ultra-valuable pink diamond dubbed ‘The Eternal Pink’ will be sold at auction in New York by Sotheby’s, with experts predicting it will fetch over $35 million. The 10.57-carat diamond is considered unparalleled in color and brightness and is expected to be the most valuable diamond of its shade ever to appear at auction. The discovery of this gemstone has caused excitement in the jewelry world, with many considering it a once-in-a-lifetime opportunity to add such a unique treasure to their collection.

Pink Diamond Market Booming

Pink diamonds are among the rarest and most sought-after gems in the world, often found in only a few select places throughout the globe. With the closure of Australia’s Argyle Mine in 2020, demand for these exceptional diamonds has grown exponentially, further adding to their appeal as an investment option. This has made gems such as ‘The Eternal Pink’ even more valuable due to scarcity.

Unparalleled Color and Brightness

The pink diamond officially called “fancy vivid purplish pink” and weighing 10.57 carats is classified as “internally flawless.” Sotheby’s head of jewelry for the Americas described it as “arguably the most significant pink diamond ever to appear at auction.” Its color is considered one of the rarest level for pink diamonds, only achieved by about four percent of all these gemstones.

Discovered in Botswana

The diamond was discovered in 2019 by Diacore, a mining company from South Africa, at a mine in Botswana. It was cut from a rough diamond that weighed more than twice as much as its present weight of 10.57 carats.

Value and Auction Details

Sotheby’s anticipates that ‘The Eternal Pink’ will be sold for a record-breaking price of over $35 million at their annual Magnificent Jewels auction in New York City on June 8th. The diamond is expected to fetch around $3.3 million per carat, making it one of the priciest gems ever sold. The highest per-carat auction price for a pink diamond currently belongs to the Williamson Pink Star, an 11.15-carat pink diamond that sold for $58 million in 2021.

Viewing before Auction

Auction-goers will have an opportunity to view the exquisite gemstone in public before the auction. The Eternal Pink will be exhibited in several cities, including Dubai, Singapore, Geneva, and Hong Kong before the auction in June. This will give potential buyers an up-close and personal look at the valuable gemstone.

Conclusion

The sale of ‘The Eternal Pink’ marks a historic moment in luxury jewelry history, and it is expected to set a new record-breaking price for pink diamonds. Its rarity, color, and clarity make it one of the most valuable gemstones ever to come to auction. For investors seeking unique items that are bound to appreciate in value over time or collectors looking for a once-in-a-lifetime acquisition, purchasing this exceptional diamond may be a chance too good to pass up.

Image Source: Wikimedia Commons