Sotheby’s Geneva to Auction “The Spirit of the Rose Diamond” the Largest Pink Diamond Ever Mined in Russia

Sotheby’s Geneva is due to put up for sale, on November 11, 2020, an extremely rare pink diamond, “The Spirit of the Rose”  – an oval modified brilliant-cut, fancy vivid purple-pink diamond weighing 14.83 carats, derived from the largest rough pink diamond ever mined from a Russian mine in the Republic of Yakutia.

The GIA which graded “The Spirit of the Rose” diamond, has assigned the oval modified brilliant-cut diamond, weighing 14.83 carats, a fancy vivid purple-pink color grade, and Internally Flawless clarity grade with excellent polish and very good symmetry.

14.83-carat oval modified brilliant-cut fancy vivid purple-pink internally flawless spirit of the rose diamond.

14.83-carat oval modified brilliant-cut fancy vivid purple-pink internally flawless spirit of the rose diamond.

 

The rough pink diamond that produced “The Spirit of the Rose” diamond was unearthed by Alrosa at the Ebelyakh Mine in the Republic of Sakha (Yakutia), in northeast Russia in July 2017, the largest pink crystal ever mined in Russia, a clear-pink rough diamond weighing 27.85 carats. The diamond was named “Le Spectre de la rose” (The Spirit of the Rose”) after a legendary short ballet of the same name, staged by the Ballet Russes Company and produced by Sergei Diaghilev, premiered on April 19th, 1911 at the famous Théâtre de Monte-Carlo.

 

The rough diamond was cut and polished at the “Diamonds of Alrosa” cutting factory in Moscow, a process that took nearly one year.

The 14.83-carat pink diamond is one of approximately 10 known pink diamonds ever offered for sale that exceeded 10 carats during the past 10 years. John King, GIA chief quality officer, said in a statement. “In the world of colored diamonds, pink diamonds are some of the most treasured, especially at larger sizes. It’s unusual to see pink diamonds in the market over one carat today. Weighing more than 14 carats is exceptional. The color is an amazing specimen. Being also internally flawless makes it truly a unique stone.”

The diamond also has the benefit of being one of the most sought after colors in the market today, based on the highest prices achieved by pink and blue diamonds at public auctions, a demand that is expected to continue into the foreseeable future, particularly for pinks, given the expected close down of Rio Tinto’s Argyle mine in Australia in 2020, which produces more than 90% of the world’s pink diamonds.  

59.60-carat-oval-mixed-cut-internally-flawless.-fancy-vivid-pink-Pink-Star-diamond

59.60-carat oval mixed cut internally flawless fancy vivid pink Pink Star diamond

With the closing of Rio Tinto’s Australian mine, Alrosa believes it can meet the demand for rare colored diamonds. At least two of Alrosa’s mines in Russia are producing colored diamonds, including pinks, and the company says it could potentially satisfy up to 30% of the colored-diamond market.

The current record for a pink diamond sold in auction belongs to the CTF Pink Star diamond, a 59.60-carat oval mixed-cut, internally flawless. Fancy Vivid Pink diamond, which was auctioned at Sotheby’s Hong Kong for $71.2 million in April 2017.

A pre-sale estimate of US$22,995,167 – US$37,988,453 has been placed on “The Spirit of the Rose” diamond, which is expected to sell below or above the upper estimate.

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