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Fortune Pink diamond sells for more than $28.5 million

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Robin Millard, Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="A Christie" s="" employee="" displays="" a="" fancy="" vivid="" pink="" modified="" pear="" brilliant-cut="" diamond="" called="" Fortune="" of="" during="" preview="" at="" in="" November="" It="" is="" estimated="" to="" sell="" between="" Swiss="" Francs.="" The="" auction="" will="" take="" place="" Geneva="" on="" EPA-EFE="" MARTIAL="" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/overseas/11/09/20221109-pink-diamond-epa.jpg"/><figcaption>A Christie&#x27;s employee displays a fancy vivid pink modified pear brilliant-cut diamond called &#x27;The Fortune Pink&#x27; of 18,18 carat, during a preview at Christie&#x27;s in Geneva, Switzerland, 02 November 2022. It is estimated to sell between 25,000,000 - 35,000,000 Swiss Francs. (Euro 25,350,000 - 35,500,000). The auction will take place in Geneva on November 08. EPA-EFE/MARTIAL TREZZINI</figcaption></figure></div>GENEVA, Switzerland - The Fortune Pink diamond, an exceptionally rare giant gemstone, sold for more than $28.5 million (approximately P1.65 billion) at auction in Geneva on Tuesday to a private Asian customer.At 18.18 carats, the jewel is the largest pear-shaped &quot;fancy vivid pink&quot; diamond ever sold under the hammer, Christie&#x27;s auction house said.The dazzling diamond fetched a hammer price of 24.5 million Swiss francs ($24,615,150), rising to 28,436,500 Swiss francs ($28,570,150) with the buyer&#x27;s premium added on.The bidding, which lasted for a tense four minutes, started at 17 million Swiss francs and was a three-way battle between telephone bidders, with the winner eventually claiming the gem by upping the bid by half a million.&quot;The buyer is happy. It&#x27;s a dream come true,&quot; the Christie&#x27;s employee taking the winning telephone bid told AFP, while maintaining the buyer&#x27;s anonymity.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/life/10/08/22/pink-diamond-sells-for-nearly-58-million-in-hong-kong">Pink diamond sells for nearly $58 million in Hong Kong</a></li>	<li><a href="https://news.abs-cbn.com/overseas/02/10/22/black-diamond-largest-ever-cut-sells-for-p220-m">Black diamond, largest ever cut, sells for P220-M</a></li>	<li><a href="https://news.abs-cbn.com/business/05/12/22/biggest-white-diamond-ever-auctioned-fetches-219-million">Biggest white diamond ever auctioned fetches $21.9 million</a></li></ul>The Fortune Pink, mined in Brazil, had been estimated to fetch between $25 million and $35 million.Christie&#x27;s noted that the carat weight, 18.18, was considered a lucky number in Asia, where it signifies &quot;definite prosperity&quot;, and gave the diamond its name.&quot;Very aptly it was purchased by an Asian private customer,&quot; Rahul Kadakia, Christie&#x27;s international head of jewellery, told reporters after conducting the sale.&quot;It&#x27;s a very select group of customers who are buying at this level.&quot;I&#x27;m very happy that it&#x27;s gone to a new family who will enjoy it, who will wear it, and I hope it brings them good fortune.&quot;<div>Rare gems</div>Pink diamonds are only found in a few places and fewer than 10 percent weigh more than one fifth of a carat.Big jewels like the Fortune Pink are therefore among the rarest diamonds and are some of the most in-demand on the global market.On Friday, the 11.15-carat Williamson Pink Star pink diamond sold in Hong Kong for HK$453.2 million ($57.7 million), setting a record for price per carat paid at auction for any diamond or gemstone, according to Sotheby&#x27;s.It was fetched the second-highest price paid at auction for any jewel.Tobias Kormind, managing director of online diamond jeweller 77 Diamonds, said the Fortune Pink price was disappointing in comparison.&quot;Hong Kong has trumped Geneva and whether we like it or not, the centre of gravity of wealth creation is moving towards Asia,&quot; he said.The world record for a pink diamond was set in 2017, when a stone known as the CTF Pink Star was sold in Hong Kong for $71.2 million.- Standing room only - The Fortune Pink was auctioned in the Magnificent Jewels sale at the Hotel des Bergues, part of Christie&#x27;s Luxury Week of sales in Geneva.The jewels sale of 71 lots fetched nearly 56.6 million Swiss francs. Five other diamond lots went for more than a million Swiss francs.&quot;It was an exciting night,&quot; said Kadakia.&quot;There is appetite, people want to pay the prices.&quot;I have not, since Covid, seen the room packed all the way to the end of the ballroom where there was standing room only.&quot;It gives you a sense of how the market is feeling so much more buoyant.&quot;Sotheby&#x27;s Geneva Luxury Week is also under way, with a fancy vivid blue cushion-shaped diamond weighing 5.53 carats estimated to fetch 11 to 15 million Swiss francs on Wednesday.It is part of the De Beers Exceptional Blue Collection -- a group of eight rare fancy blue diamonds with a total value of more than $70 million, being sold in Geneva, New York and Hong Kong.rjm/ach <div>© Agence France-Presse</div>

The Fortune Pink diamond, an exceptionally rare giant gemstone, sold for more than $28.5 million (approximately P1.65 billion) at auction in Geneva on Tuesday to a private Asian customer.

Fortune Pink diamond sells for more than $28.5 million

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Fortune Pink diamond sells for more than $28.5 million

Robin Millard,

Agence France-Presse

Published Nov 09, 2022 09:25 AM PHT

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