The Eternal Pink
Get ready for some dazzling diamond news! The highly anticipated Eternal Pink debuted at Sotheby’s New York and sold for an impressive $34.8 million w/p, just a bit below its estimated value of $35 million (or $3.31M per carat). This 10.57-carat gem was discovered in Botswana by De Beers and is officially classified as a “purplish pink” diamond, which is extremely rare.
When determining a diamond’s value, experts consider the “four Cs”: carat, cut, color, and clarity. The Eternal Pink excels in clarity, with no visible imperfections, basically flawless, and its color is rated as “fancy vivid,” the highest grade for intense pink diamonds achieved by only 4% of them.
Though very impressive, the Eternal Pink is by no means the largest pink diamond in the world. That superlative belongs to the Darya-i-Noor, a gem that was once part of the Iranian Crown Jewels. It is over seventeen times larger than the Eternal Pink, weighing 182 carats, and is now kept at the Central Bank of Iran in Tehran. Furthermore, the Eternal Pink got nowhere near the auction record for a pink diamond. The current record stands at $71.2 million for a 59.6-carat gem sold in Hong Kong (but that only works out to $1.19M per carat). Another notable gem, the 11.15-carat Williamson Pink Star, holds the record for the highest value per carat after fetching $58 million (or $5.2M per carat).
But it is not the Eternal Pink’s size that makes it so valuable, but rather its rarity. Pink diamonds are incredibly rare and have become even rarer in recent years. It’s important to note that in 2020 Australia’s Argyle Mine closed; it was a significant source of pink diamonds. The closing has contributed to the increased prices of these precious stones. The scarcity has not only increased the price for these stones but also demand.
If any of you decide you NEED a pink diamond, reach out to us – we know a guy – RehsCo Diamonds specializes in colored diamonds 😉