24.78 ct Fancy Intense Pink Sets Price Record

Sold for $1.86 million per carat

(IDEX Online News) - A fancy intense pink diamond weighing 24.78 carats sold for $46,158,674, setting a world record for an auctioned diamond or jewel. The diamond was sold by Sotheby’s Geneva last night to British jeweler Laurence Graff who named the diamond “The Graff Pink.”

Four bidders competed for the gem, which is set in a ring with two accompanying white diamonds. “It is the most fabulous diamond I’ve seen in the history of my career and I’m delighted to have bought it,” Graff said after the bidding was over. The pre-sale estimate of the diamond was $27-38 million.

The auction results translate to an average per carat price of $1,862,739.07. 

The Magnificent Jewels auction that included the pink diamond closed at $105.1 million, well above the pre-sale expectations of $95.3 million. Bidders bought 82 percent of the lots.