15 Nov 2018

Christie’s 19ct. Pink Legacy Fetches $50M

Harry Winston bought a pink diamond for more than $50 million at Christie’s Magnificent Jewels sale in Geneva, setting a world auction record.

The rectangular-cut, 18.96-carat, fancy-vivid-pink stone went for $50.4 million at the auction Tuesday, becoming the most expensive pink diamond Christie’s has sold, the auction house said. At $2.7 million per carat, it also achieved a world-record average price for a pink diamond at auction, beating the 14.93-carat Pink Promise, which fetched $32.5 million ($2.1 million per carat) at Christie’s Hong Kong in 2017.

Image: The Winston Pink Legacy. (Christie’s)

The buyer renamed the stone — formerly the Pink Legacy — as the Winston Pink Legacy. It previously belonged to the Oppenheimer family, and had a presale estimate of $30 million to $50 million.

“This exceptional diamond captured the imagination of international collectors across the globe, with over 30,000 people visiting Christie’s sale previews to see this remarkable stone,” said Rahul Kadakia, Christie’s international head of jewelry. “It has taken its rightful place among the world’s greatest diamonds.”

The auction also saw an Art Deco piece by Van Cleef & Arpels fetch $4.3 million, well above its presale estimate of CHF 2 million to CHF 3 million ($2 million to $3 million). A natural-pearl necklace garnered $1.2 million against a valuation of CHF 240,000 to CHF 340,000 million ($238,190 to $337,345 million).

Some 86% of lots sold at the Magnificent Jewels auction, yielding a total of $110.2 million. The event was 90% sold by value of items available.

 

Rapaport, 14 November 2018
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