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The Graff PinkSotheby’s Geneva set a world auction record for any diamond or jewel when it sold an exceptionally rare Fancy Intense Pink diamond of the purest, most vibrant hue, weighing 24.78 carats for over £28.5 million.

On Tuesday four bidders competed for the gem which was one of the most important and beautiful gemstones ever to come up for auction and had last been on the market 60 years ago. The diamond was finally bought by Laurence Graff. Shortly after the sale he named the diamond “The Graff Pink”.

The absolute scarcity of fine pink diamonds exceeding 20 carats made the appearance at auction of this stone a landmark moment in the world of fine gemstones. The emerald-cut stone, mounted as a ring, had been assessed to be a member of the rare and coveted type IIa classification which comprises less than 2% of all of the world’s gem diamonds. This stone came to the market from a private collection, and has not appeared on the open market since it was purchased some 60 years ago from Mr. Harry Winston.

PREVIOUS WORLD RECORD FOR A DIAMOND OR ANY JEWEL AT AUCTION
$24,311,191 paid for The Wittelsbach Diamond, an historic cushion-shaped fancy deep greyish blue diamond weighing 35.56
carats, sold at Christie’s London 10 December 2008
PREVIOUS WORLD RECORD FOR A JEWELLERY AUCTION
$68,549,820 (CHF 102,824,730) at Sotheby’s Geneva 17 November 1993