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.