Connect with us

International

The ‘Pink Spirit’ diamond could raise $ 38 million at Sotheby’s auction

Avatar

Published

on


Written by Oscar Holland, CNN

An “ultra-rare” purple-pink diamond is set to go under the hammer, with Sotheby’s auction house estimating it could fetch up to $ 38 million.

The 14.83-carat stone, dubbed the “Spirit of the Rose,” will go on sale in Switzerland next month, more than three years after it was discovered by a mine in northeastern Russia.

Taking its name from the 1911 Russian ballet “Le Specter de la rose”, the jewel was cut from an even larger rough diamond discovered by the mining company Alrosa in 2017. Then weighing 27.85 carats, the initial discovery was believed to be was the largest crystal rose ever discovered in the country.

The jewel was cut from a 27.85 carat rough diamond discovered at a mine in Sakha, northeastern Russia.

The jewel was cut from a 27.85 carat rough diamond discovered at a mine in Sakha, northeastern Russia. credit: Sotheby’s

It took a year to cut and polish the oval-shaped stone, which will appear in Hong Kong, Singapore and Taipei before arriving in Geneva for the November 12 sale.

According to Gary Schuler, chairman of Sotheby’s jewelry department, the rarity of the diamond is due to its size and color, which has been hailed as “Fancy Vivid Purple-Pink”. The jewel is also classified as “impeccable interior”, a measure of its clarity, while the stone belongs to a rare subgroup of diamonds that contain little or no nitrogen.

“Only 1% of all pink diamonds are larger than 10 carats and only 4% of all pink diamonds are rated ‘Fancy Vivid’ and display a rich, vibrant color,” Schuler said in a press release. . “Having the opportunity to offer a great polished pink diamond … with the richness of color and purity of the Spirit of the Rose is truly extraordinary.”

Sotheby's auction house estimates the diamond will sell for between $ 23 million and $ 38 million.

Sotheby’s auction house estimates the diamond will sell for between $ 23 million and $ 38 million. credit: Sotheby’s

Rising prices

Pink diamonds are growing in value faster than those of any other color, according to the nonprofit Fancy Color Research Foundation, which found that prices increased by 116% between 2010 and 2019.
In 2017, a 59.60 carat pink diamond known as the Pink Star became the most expensive jewel ever sold at auction when it went for $ 71.2 million at Sotheby’s in Hong Kong. Prior to that, the previous world auction record for a pink diamond was $ 46.16 million, the amount paid for Graff Pink 24.78 carats in Geneva in 2010.

Related Video: The 18.96 carat Pink Legacy sets a world record for the highest price paid per carat for a pink diamond in 2018.

Pink stones now make up five of the 10 most valuable diamonds ever sold at auction, said next month’s auction leader Benoit Repellin.

“These extraordinary sales, all realized in the last decade are a testament to the growing appreciation and awareness of the great shortage of these natural treasures around the world,” he said in a press release, “and with the supply of these beautiful stones becoming more and more limited, they are likely to continue to become even more precious. “

The Spirit of the Rose will join 25 other valuable pieces at Sotheby’sWonderful Jewels and Noble JewelsMonday ‘s announcement comes just a week after Hong Kong auction house mail sold an extremely rare 102.39 carat white diamond. for $ 15.7 million.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]