'Flawless' and 'vivid purplish pink' diamond expected to fetch more than $35 million at auction

Mike Snider, USA TODAY
·3 min read

An impeccable diamond coming up for auction takes pretty in pink to an entirely new level.

The Eternal Pink Diamond, a 10.57-carat jewel, was fashioned from a 23.78-carat rough stone discovered in 2019 at the Damtshaa Diamond Mine in Botswana. "This diamond is internally flawless," as graded by the Gemological Institute of America, said Alexander Eblen, a senior specialist in gems and jewelry at Sotheby's in New York, where the diamond will be auctioned June 8.

Sotheby's and experts think there is a chance bidding for the diamond, which is expected to surpass $35 million, could challenge the record of $57.7 million fetched by the Williamson Pink Star diamond, which was sold at an October 2022 Sotheby’s auction in Hong Kong.

That 11.15-carat diamond holds the title for the most expensive diamond per carat ever sold – $5.2 million per carat. However, its presale estimate was $1.9 million per carat, Barron's reported.

The Eternal Pink diamond's estimated price per carat is $3.3 million, the highest price per carat of any diamond or gem prior to its sale, according to Sotheby's. That gives the diamond a chance to challenge the current price-per-carat record, Bloomberg reported.

The current record for the most expensive diamond or any gemstone sold at auction is held by the CTF Pink Star, a 59.60-carat oval mixed-cut diamond auctioned at Sotheby’s Hong Kong in April 2017 for $71.2 million.

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Why might the Eternal Pink Diamond set a new record?

A reason for optimism this diamond will attract a potential record bid? Categorized as "Fancy Vivid Purplish Pink," the diamond falls within a rare subgroup making up less than 2% of all gem diamonds, Sotheby's said.

The diamond's color "is the most beautiful and concentrated shade of pink in diamonds that I have ever seen," said Quig Bruning, Sotheby's head of jewelry in the Americas, in an Instagram post highlighting the diamond.

“It is difficult to overstate its rarity and beauty,” Wenhao Yu, chairman of jewelry and watches at Sotheby’s Asia, said in a press description of the gem.

The Eternal Pink Diamond, which weighs 2.1 grams, should be compared to “ultimate masterpieces of art – far rarer than a Magritte or a Warhol," Bruning said in the press release. "Combined with its exceptional clarity, it is not surprising that it would command the highest per-carat pre-sale estimate for any diamond to date."

The Eternal Pink Diamond, a 10.57-carat purplish-pink diamond, will be auctioned by Sotheby's in June. The auction house estimates the diamond will sell for over $35 million.
The Eternal Pink Diamond, a 10.57-carat purplish-pink diamond, will be auctioned by Sotheby's in June. The auction house estimates the diamond will sell for over $35 million.

The Eternal Pink Diamond goes on tour

Ahead of the diamond's sale as part of Sotheby's Magnificent Jewels auction on June 8 in New York, it will be on exhibition:

  • Hong Kong: April 1-7

  • Taipei: April 21-22

  • Mainland China: week of April 24-28

  • Singapore: May 3-6

  • Geneva: May 12-16

  • Dubai: week of May 22-26

Follow Mike Snider on Twitter: @mikesnider.

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This article originally appeared on USA TODAY: Diamond with rare pink color, clarity could get $35 million at auction