Christie’s Sells 16.08-Carat Pink Diamond for Record Breaking $28.5 Million

(IDEX Online News) – A 16.08-carat cushion-shaped fancy pink diamond sold for a record $28.5 million at Christie’s Geneva’s Magnificent Jewels auction. The stone, which was renamed the “Sweet Josephine” after the auction, was bought by a private Asian buyer.

The sale price represents a new world auction record for a pink diamond offered at auction.

“Selling the largest vivid pink cushion-shaped diamond to come to auction is a privilege and to sell it for a new world auction record prize is a strong indication that there is still demand from clients from the end of the market for these truly precious stones,” said Rahul Kadakia, International Head of Christie's Jewellery Department.

“This is also true for pieces of historic or royal provenance which similarly attracted a lot of interest during the viewing and sold above estimate. In particular, rubies were in high demand and the important 27 ruby lots in this auction sold very well.”

The Magnificent Jewels auction realized a total of $109.5 million and was sold 80 percent by lot and 86 percent by value.