RAPAPORT... Sotheby’s Geneva will auction a 10.99-carat, VS1, emerald cut, fancy intense pink diamond ring on May 17 with a presale estimate of $9 million to $16 million.
“I do not remember the market for colored diamonds to have ever been as strong as it is today,” said David Bennett, chairman of Sotheby’s Jewellery Department for Europe and the Middle East. “This was underlined by the unprecedented results of our last November sale and undoubtedly influenced the owner’s decision to sell this beautiful pink diamond which has not appeared on the market for over 30 years.”
In November 2010, Sotheby’s Geneva sold the Graff Pink, weighing 24.78 carats, for $46.2 million, setting a world auction record for any diamond and any jewel to go under the hammer.