Pink Legacy Diamond Sells for a Record $50 MILLION!

Pink Legacy Diamond - Christie's

At Christie’s in Geneva last night, history was made. Jewellery house Harry Winston bought the Pink Legacy diamond for a record breaking $50 million.

The Fancy Vivid Pink Diamond is GIA certified as a cut cornered rectangular-cut diamond of 18.96 carats.

 

Why are pink diamonds so expensive?

The simple answer to this question is the rarity of pink diamonds.

90% of pink diamonds come from the Argyle mine in Australia. This mine is famous for producing some of the world’s most vivid and spectacular pink and red diamonds. They announced a few years ago, however, that the mine was likely to close in 2020 because there are few stones left to be mined.

The newly named Winston Pink Legacy is indeed a one of kind diamond and its value is expected to increase once mining ceases and this stone becomes a piece of history.

Once owned by the Oppenheimer family – the family behind the Debeers mining company, the stone is diamond royalty.

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