An extremely rare, "fancy vivid purple-pink internally flawless" diamond is set to go under the hammer next month at a Sotheby's auction. The 14.83-carat diamond could fetch up a whopping $38 million.
Named after a Russian ballet 'The Spirit of the Rose', the oval gem is the largest of its kind to be offered at auction. It will go on the chopping block on November 11 in Geneva. "Its unparalleled qualities make it the largest Purple Pink diamond to ever appear at auction," Sotheby's said.
Unearthed by diamond producer Alrosa, the stone was cut from the largest pink crystal ever mined in Russia. The diamond was extracted from the Ebelyakh deposit in the Republic of Sakha in the northeast of Russia in July 2017.
Gary Schuler, the worldwide chairman of Sotheby's jewelry division, said the occurrence of pink diamonds in nature is extremely rare in any size. "Only one percent of all pink diamonds are larger than 10-carats and only four percent of all pink diamonds are graded 'Fancy Vivid' and display a rich, vivid color," he said.
Having the opportunity to offer a large polished pink diamond of over 10-carats and with the richness of color and purity of The Spirit of the Rose is therefore truly exceptional, he added.
Schuler said the gem was a "natural wonder, steeped in Russia's century-long diamond tradition and cultural heritage."
According to analysts, pink diamonds are both rare and aesthetically highly prized by collectors. Before being auctioned in November, the gem is being shown in Hong Kong, Singapore and Taipei.
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