Ultra-rare pink diamond to go under hammer in Geneva

HONG KONG, CHINA - MARCH 29: A model shows the 59.60 carat Pink Star diamond ring, expected to fetch US$ 60 million plus, to the press at Sotheby's Hong Kong, Hong Kong SAR, China on March 29, 2017. The Pink Star Diamond goes on auction with Sotheby's Hong Kong. (Photo by Jayne Russell/Anadolu Agency/Getty Images)

An extremely rare pink diamond will be auctioned in Geneva on November 11 by Sotheby’s, which says it is worth between $23 and $38 million.

Named “The Spirit of the Rose” after a famous Russian ballet, the 14.83-carat diamond mined in Russia is the biggest ever to go under the hammer in its category — “fancy vivid purple-pink”.

“The occurrence of pink diamonds in nature is extremely rare in any size,” Gary Schuler, head of Sotheby’s jewellery division, said in a statement.

“Only one per cent of all pink diamonds are larger than 10-carats.”

Benoit Repellin, head of fine jewellery auctions at Sotheby’s Geneva, spoke to AFP and said the oval-shaped diamond was “completely pure.”

The rough diamond was unearthed by Russia’s Alrosa — one of the world’s leading diamond producers — in the Republic of Sakha in the northeast of the country in July 2017.

Repellin said it took a painstaking year for cutting masters to turn the diamond into its polished form.