A large pink diamond a could become one of the most expensive gems ever sold at auction, estimated to fetch up to $50 million next month in Geneva.
The 18.95 carat, fancy vivid pink stone is a rectangular cut and is called The Pink Legacy. Christie’s will put it up for auction Nov. 13 at its Magnificent Jewels Sale in Geneva, with an estimate sale price of $30 million to $50 million, according to Christie’s.
Fancy vivid pink diamonds are extremely rare, especially those more than a carat or two. Only four over 10 carats in size have ever come up for auction in 250 years, Christie’s said. The Pink Legacy also has a type IIA classification, meaning it is among the most chemically pure diamonds.
The gem traces its history to the Oppenheimer family, which adds to its worth. The famed South African diamond dynasty controlled much of the world’s trade over three generations. Nicky Oppenheimer sold the family’s 40 percent stake in diamond mining company De Beers Group for $5.1 billion to Anglo American in 2011, after taking De Beers private in 2001.
“The discovery of this previously unrecorded and remarkable diamond will cause immense excitement with collectors and connoisseurs of diamonds around the world,” said Rahul Kadakia, international head of jewelry for Christie’s.
The Pink Legacy won’t be the most expensive stone ever sold. That honor is still held by The Pink Star, a 59.60 carat fancy vivid pink diamond that sold in Hong Kong by Sotheby’s last year for $71.2 million. It first sold at auction in 2013, when Sotheby’s sold it for $83 million to a New York-based diamond cutter. But the buyer defaulted on the deal, so it came back up for auction.
The second most expensive diamond ever sold is the Oppenheimer Blue diamond, which had also been in the Oppenheimer family, sold for $57.2 million in 2016. If the Pink Legacy fetches $50 million, it would become the third most expensive ever auctioned.
Rav's enthusiasm and passion is contagious! I have a lot of faith and belief in Rav and have no doubt that he will climb the ladder of success. My investment has had a life line of 6 months and whilst I acknowledge that this is a short time, I am more than satisfied with the way things are going.
It has been a pleasure working with Rav & his Group and I am excited about how far this company can grow over the next 5 years. A lot to look forward to.
Not much to complain about regarding this young man, I have followed his movements since 2012 and I am happy to see him pushing and progressing slowly towards his goals. Good luck to you Rav!
A gentleman in all aspects, Rav has treated me and my portfolio with the utter most respect. How many collectors can boast a rare gem portfolio that consists of a Red diamond?!! Rav has knowledge, confidence and reach, making him a very capable young man.
Happy with the way things are going, a little over 18 months in to my investment and no reason for complaints. I like the vision, the strategy and the enthusiasm that Rav brings to the table, making me feel confident about the future ahead.
Very easy going, considerate and polite. He has been very promising, hard working and supportive person. Rav's style of presenting his business portfolio and approach was never pushing. He understands both sides of the world and is keen on making sustainable stronger long term relationship with his clients. This type of qualities are very rare and unique.
I have had the pleasure of working with Rav over the past 4 years. Over this period Rav has helped shape my rare gem portfolio in to a world class profile. Rav is a man of insight, knowledge and market intuition. His services are highly recommended.
Rav is at the start of his journey, and I can see this young man building a formidable legacy over the next 20 years. His vision, understanding of the market and client requirement is a foresight that should not be underestimated.
I have been a client of Rav's since 2010, and also one of his first clients. I take great pride in watching this ambitious man grow and evolve. The fact that he is now the leading specialist in the field of rare gems, speaks volume of his contribution over the past 8 years.
Rav is the man of the moment over in the UK. His history, experience and strong performance in this sector is not to be underestimated. I would not hesitate to recommend Rav's services to anyone that may be looking to build a tangible portfolio of rare gems to place in to an investment strategy.
Rav is creative and passionate in his work and craft. I have been a client of his since 2016 & have enjoyed the journey.