Colored diamonds have been making the deadlines for the past few years and that is the case again. A 5-carat Fancy Vivid Pink cushion shaped diamond ring is worth a record breaking $10.8 million.
The pink cushion-cut diamond was set in a platinum and 18-karat rose gold mounting designed by famous jewelers Graff Diamonds with a pair of matched white shield-shaped diamonds. The pink color is a rich bubblegum hue with even saturation, seldom seen in natural pink colored diamonds. The pink diamond is also a rare type IIa diamond and the high price reflects not only its exceptional beauty, but also its extreme rarity.
Purchased by a private Asian buyer, the exceptional diamond sold for almost double its pre-auction estimated value in a Hong Kong auction. The diamond was strategically auctioned in Hong Kong because China’s retail market is recovering faster than American and European markets. The Asian market for high-end, big-ticket collectible goods is very aggressive due in part to the optimism of the financial markets in that area.
