Fancy Intense Pink Sold for $1.5 Per Carat

12.04 ct fancy intense pink sold for $17,395,728 Photo: Christie's Images Ltd. 2011

(IDEX Online News) – Hong Kong is sizzling. A 12.04 carats fancy intense pink sold for $17.5 million Tuesday at Christie’s spring sale of Hong Kong Magnificent Jewels. Yes, that is $1,452,267 per carat.

The diamond was sold after a short 10-minute bidding war, according to Vickie Sek, Director and Head of Jewellery & Jadeite Department, Christie’s Asia.

"The Martian Pink sold by Harry Winston in 1976 created a sensation during its worldwide exhibition tour," Sek said. The anonymous buyer paid for the diamond much more than its pre-sale estimate of $8.4 – $12 million.

A record $551,000 per carat was paid for a 6.04 carats Burmese ruby.

A private Asian buyer bought a pair of brilliant-cut D / Flawless diamonds of 10.88 carats each for $ 4.9 million, or $223,000 p/c. D / Flawless diamonds weighing more than 10 carats are a hot purchase among investors in diamonds. A matching pair of such a diamond carries an extra premium.

A 3.11 carats rectangular-cut fancy intense pink, VVS1 diamond sold for $653,500 p/c or a total of $2 million to a private Asian buyer.

The auction achieved $80.3 million, with 79 percent sold by lot and 82 percent by value.