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Rare pink diamond aims to make $50 million

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Agnès Pedrero, Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/11/10/diamond.jpg"/><figcaption>A Christie&#x27;s staff holds a 18.96 carat Fancy Vivid Pink Diamond during a preview in Geneva, November 8, 2018. Denis Balibouse, Reuters</figcaption></figure></div>GENEVA, Switzerland - The Pink Legacy, an exceptionally large pink diamond, is set to go under the hammer at Christie&#x27;s in Geneva next week, when it is expected to bring in up to $50 million.At nearly 19 carats, the vividly colored gem is extraordinary, Jean-Marc Lunel, an international jewellery specialist at Christie&#x27;s, told AFP.&quot;If you consider that most pink diamonds weigh less than a carat, it is really something,&quot; he said.The gem, which on Nov. 13 will be offered at auction for the first time, has been estimated at between $30 million and $50 million (26.5-44.1 million euros), and Lunel suggested it could hit the high end of that range.&quot;It is probably the most beautiful (specimen) ever presented at public auction,&quot; he said, insisting there was good reason to expect the rock to snatch an extraordinary price.The rectangular-cut diamond has been graded &quot;fancy vivid&quot; -- the highest possible grade of color intensity.Christie&#x27;s pointed out that in the salesroom, fancy vivid pink diamonds over 10 carats are &quot;virtually unheard of&quot; and that only 4 vivid pink diamonds or over 10 carats have ever been offered for sale at auction.One of them, the nearly 15-carat Pink Promise, was sold last November at a Christie&#x27;s auction in Hong Kong for $32.5 million. That amounts to $2.176 million per carat, which remains the world auction record price per carat for any pink diamond.And in 2013, a huge pink diamond weighing 59.60 carats meanwhile went under the hammer at Sotheby&#x27;s for $83 million, or $1.39 million per carat.The Pink Legacy, set to headline Christie&#x27;s annual Magnificent Jewels auction on Tuesday, used to belong to the Oppenheimer family, which for decades ran the De Beers diamond mining company, but Christie&#x27;s refused to say who the current owner was.It was discovered in a South African mine around a century ago, Lunel said.&quot;It was probably cut in the 1920s,&quot; he said, adding that it had not been altered since.The classic rectangular cut is traditionally used for white stones, but is rare for pink diamonds.&quot;Imagine a domino that you have cut the corners off of,&quot; Lunel said, pointing out that the cut is a &quot;classical so-called emerald cut&quot;, which stands out from the typical, more rounded, multi-faceted cuts used today.Rahul Kadakia, Christie&#x27;s international head of jewellery, meanwhile said in a statement in September that he expected The Pink Legacy to &quot;cause immense excitement with collectors and connoisseurs of diamonds around the world&quot;.&quot;Its exceptional provenance will no doubt propel it into a class of its own as one of the world&#x27;s greatest diamonds.&quot;

GENEVA, Switzerland - The Pink Legacy, an exceptionally large pink diamond, is set to go under the hammer at Christie's in Geneva next week, when it is expected to bring in up to $50 million.

GENEVA, Switzerland - The Pink Legacy, an exceptionally large pink diamond, is set to go under the hammer at Christie's in Geneva next week, when it is expected to bring in up to $50 million.

Rare pink diamond aims to make $50 million

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Rare pink diamond aims to make $50 million

Agnès Pedrero,

Agence France-Presse

Published Nov 10, 2018 06:56 AM PHT

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Pink Legacy

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