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Saturday, June 12, 2021

The Sakura: ‘Flawless’ purple-pink diamond fetches report $29.3M

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Written by Megan C. Hills, CNNOscar Holland, CNNHong Kong

This text was up to date with the ultimate value and different particulars following the public sale’s conclusion.

A 15.81-carat gem, dubbed “The Sakura,” fetched $29.3 million in Hong Kong to grow to be the costliest purple-pink diamond ever to promote at public sale.

Named after the Japanese phrase for cherry blossom, it’s the largest diamond of its type to go below the hammer, in line with Christie’s, the public sale home behind the sale.

The stone, which is about on a easy platinum ring, has been classed as internally flawless, which means that any blemishes are solely seen below shut magnification. Additionally it is categorized as “fancy vivid,” a measure of intense shade achieved by solely 4% of pink diamonds, the auctioneer stated.

In a press assertion, chair of Christie’s jewellery division, Vickie Sek, described Sunday’s sale as an “necessary chapter in jewelery public sale historical past.”

The Sakura is the most important diamond of its type ever to look at public sale. Credit score: Christie’s Photos Ltd.

Previous to the sale, Sek stated in a telephone interview that the stone is “precisely” the shade of cherry blossom. She added that it’s “very uncommon” for pink diamonds to be categorized as internally flawless, as they often include “a number of graining.”

The gemstone’s measurement additionally made it an uncommon discover, with Christie’s noting that fewer than 10% of pink diamonds weigh greater than 0.2 carats.

The Sakura’s remaining price ticket of over 226 million Hong Kong {dollars} ($29.29 million), fell wanting the public sale home’s preliminary prime estimate of 300 million Hong Kong {dollars} ($38 million). But it surely nonetheless broke the public sale report for a purple-pink diamond, set final yr by a 14.8-carat stone, named “The Spirit of the Rose,” that fetched nearly $27 million at Sotheby’s in Geneva.

Pink diamonds are available numerous totally different shades, with stones like The Sakura notable for his or her purple undertones. Whereas Sek stated that “there is not any rule saying (whether or not purely) pink diamonds or purple-pink diamonds are rarer,” the previous are answerable for even larger sums at public sale.

In 2017, a 59.6-carat pink diamond bought for a report $71.2 million at Sotheby’s Hong Kong. The diamond, which was bought by Hong Kong jewelers Chow Tai Fook and renamed “CTF Pink Star,” stays the costliest polished diamond of any shade to promote at public sale.

Associated video: The 18.96-carat Pink Legacy units a world report for the very best value paid per carat for a pink diamond in 2018.

Elsewhere at Sunday’s sale, a second, heart-shaped pink diamond ring went for over 50 million Hong Kong {dollars} ($6.5 million), whereas a diamond pendant necklace was bought for nearly 21 million Hong Kong {dollars} ($2.7 million).

Regardless of the massive sums achieved, the coronavirus pandemic has affected international jewellery markets previously yr. Based on analysis by Bain & Co, income from diamond gross sales dropped globally by 15% in 2020, whereas within the US, jewellery gross sales plummeted by 40% within the yr’s second quarter.

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