“Vivid pink” diamond sells for record $10.78 million

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The $10.78 million sale of “The Vivid Pink,” a 5-carat cushion-cut fancy vivid-pink diamond, broke two records in the auction world: price paid for a pink diamond and per-carat price paid for any diamond at auction.

Pink Diamond

Hong Kong–A dazzling, 5-carat pink diamond dubbed “The Vivid Pink”–the largest pink diamond ever offered at auction–sold for $10.78 million at Christie’s Hong Kong on Tuesday, setting a new world-record price for a pink diamond sold at auction.

A private Asian buyer snapped up the cushion-cut, potentially flawless, Type IIa fancy vivid stone, paying $2.1 million per carat, a new per-carat record price for a diamond sold at auction, according to a news release from Christie’s.

“The Vivid Pink was the glittering star of Christie’s Hong Kong, where record prices were achieved across all categories throughout the week,” Vickie Sek, director of the Jewellery and Jadeite Department at Christie’s Asia, said in the release. “$2.1 million per carat is by far the highest price per carat achieved for any diamond worldwide and, at $10.8 million, The Vivid Pink is the most expensive jewel sold at auction in 2009. The saleroom showed immense depth at all levels, with sensational results realized all through the day. Eight out of the ten most expensive jewels were acquired by discerning Asian private collectors, confirming once again Hong Kong’s position as a major market for the finest gemstones.”

Overall, Christie’s fall 2009 Magnificent Jewels sale in Hong Kong garnered $48 million, with 89 percent sold by lot and 92 percent sold by value.

According to the release, other sales included a 16.09-carat circular-cut diamond with D color and flawless clarity, purchased by a private Asian buyer for $2.9 million.

A cushion-shaped Kashmir sapphire of 16.65 carats sold for $2.4 million, or $144,000 per carat, setting a new world-record price per carat for a sapphire sold at auction.

A European private buyer paid $1.6 million for an 11-carat pear-shaped diamond pendant.

A private Asian buyer paid $1.53 million for a 9.03-carat fancy vivid-yellow diamond with an oval shape and VVS1 clarity, while a 3.02-carat fancy intense-blue diamond with a rectangular cut and VSI clarity, garnered $1.16 million.

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