Graff Pink

Last updated
Graff Pink
Weight24.78 carats (4.956 g)
Color Fancy Intense pink
Cut Emerald cut
OwnerLaurence Graff
Estimated value US$46 million

The Graff Pink is a rare 24.78 carat pink diamond, once owned by American celebrity jeweller Harry Winston. The diamond, mounted in a ring, was sold by Sotheby's auctioneers in Geneva, Switzerland on 16 November 2010. Before its sale, the stone was expected to enter the list of the top ten most expensive diamonds in the world; [1] on selling for US $46 million (£29 million) it became the most expensive single jewel ever sold at auction at that time. [2]

Contents

The diamond

The gem is classified by the Gemological Institute of America as "fancy intense pink"—a high colour rating for pink diamonds—and has been assessed as Diamond type IIa, placing it in the top two per cent of the world's diamonds. [1]

The early history of the diamond is not clear. It was sold in the 1950s by American celebrity jeweller Harry Winston to a private collector, who owned it up until 2010, when it was sold at auction. Despite its rarity, the diamond was unnamed for all this time. The diamond is emerald cut with rounded corners, and is mounted on a platinum ring with two flanking shield-shaped diamonds.[ citation needed ]

2010 auction

The pre-sale estimate for the diamond was US $27 million to US $38 million (£17 million to £24 million). The diamond was shown around the world prior to the auction in Geneva. It sold for US $46 million (£29 million), making it the most expensive single jewel ever sold at auction at the time. It was bought by diamond dealer Laurence Graff, of Graff Diamonds, [2] who named it the Graff Pink. [3]

See also

Related Research Articles

Diamond color

A chemically pure and structurally perfect diamond is perfectly transparent with no hue, or color. However, in reality almost no gem-sized natural diamonds are absolutely perfect. The color of a diamond may be affected by chemical impurities and/or structural defects in the crystal lattice. Depending on the hue and intensity of a diamond's coloration, a diamond's color can either detract from or enhance its value. For example, most white diamonds are discounted in price when more yellow hue is detectable, while intense pink diamonds or blue diamonds can be dramatically more valuable. Of all colored diamonds, red diamonds are the rarest. The Aurora Pyramid of Hope displays a spectacular array of naturally colored diamonds, including red diamonds.

The Pink Star, formerly known as the Steinmetz Pink, is a diamond weighing 59.60 carat, rated in color as Fancy Vivid Pink by the Gemological Institute of America. The Pink Star was mined by De Beers in 1999 in South Africa, and weighed 132.5 carat in the rough. The Pink Star is the largest known diamond having been rated Vivid Pink. As a result of this exceptional rarity, the Beny Steinmetz Group called Steinmetz Diamonds took a cautious 20 months to cut the Pink. It was unveiled in Monaco on 29 May 2003 in a public ceremony.

Harry Winston American jeweller

Harry Winston was an American jeweler. He donated the Hope Diamond to the Smithsonian Institution in 1958 after owning it for a decade. He also traded the Portuguese Diamond to the Smithsonian in 1963 in exchange for 3,800 carats of small diamonds.

The Pink Panthers are an international jewel thief network responsible for a number of robberies and thefts described as some of the most audacious in the history of organized crime. The organization has roughly 800 core members, many of whom are ex-soldiers with extensive military and paramilitary backgrounds. The organization's membership mostly consists of Serbian, Montenegrin and other former Yugoslavian state citizens, believed to be remnants of the Bosnian War who have made criminal use of their militaristic skills. The organization was named by Interpol after The Pink Panther series of crime comedy films.

The Taylor–Burton Diamond, a diamond weighing 68 carats (13.6 g), became notable in 1969 when it was purchased by actors Richard Burton and Elizabeth Taylor. Burton had previously been the underbidder when jeweller Cartier bought the diamond at auction for $1,050,000, setting a record price for a publicly sold jewel. Thousands of people in New York and Chicago queued to see the diamond after its 1969 sale. It was subsequently worn by Taylor at Princess Grace of Monaco's 40th birthday, and at the 42nd Academy Awards.

Nassak Diamond 43.38 carats (8.676 g) diamond originated from India

The Nassak Diamond is a large, 43.38 carats (8.676 g) diamond that originated as a larger 89 carat diamond in the 15th century in India. Found in Golconda mines of Kollur and originally cut in India, the diamond was the adornment in the Trimbakeshwar Shiva Temple, near Nashik, in the state of Maharashtra, India from at least 1500 to 1817. The British East India Company captured the diamond through the Third Anglo-Maratha War and sold it to British jewellers Rundell and Bridge in 1818. Rundell and Bridge recut the diamond in 1818, after which it made its way into the handle of the 1st Marquess of Westminster's dress sword.

Wittelsbach-Graff Diamond Blue diamond

The Wittelsbach-Graff Diamond is a 31.06-carat (6.212 g) deep-blue diamond with internally flawless clarity originated from the Kollur Mine, India. Laurence Graff purchased the Wittelsbach Diamond in 2008 for £16.4 million. In 2010, Graff revealed he had had the diamond cut by three diamond cutters to remove flaws. The diamond was now more than 4 carats (800 mg) lighter and was renamed the Wittelsbach-Graff Diamond. There is controversy, as critics claim the recutting has so altered the diamond as to make it unrecognisable, compromising its historical integrity.

2009 Graff Diamonds robbery

The Graff Diamonds robbery took place on 6 August 2009 when two men posing as customers entered the premises of Graff Diamonds in New Bond Street, London and stole jewellery worth nearly £40 million. It was believed to be the largest ever gems heist in Britain at the time, and the second largest British robbery after the £53 million raid on a Securitas depot in Tonbridge, Kent, in 2006. The robbers' haul totalled 43 items of jewellery, consisting of rings, bracelets, necklaces and wristwatches. One necklace alone has been reported as being worth more than £3.5m. Britain's previous largest jewellery robbery also took place at Graff's, in 2003.

Graff is a British multinational jeweller based in London. It was founded by British jeweller Laurence Graff in 1960. A vertically integrated company, Graff operations comprise the design, manufacture and retail distribution of jewellery and watches.

Laurence Graff is an English jeweller and billionaire businessman, best known as the founder of Graff Diamonds, supplier of jewellery and jewels.

Alexandre Reza was a Paris-based jeweler known for his diverse and rare collection of precious gemstones. He is lauded as the greatest gem collector of modern times.

The Princie Diamond is an approximately 34.65 carat cushion-cut fancy intense pink diamond discovered 300 years ago in the Golconda mines. Christie's say that the Princie Diamond is believed to be the third largest pink diamond in the world after the Daria-i-Noor the Noor-ol-Ain which are both part of the Iranian Crown Jewels but which were both cut, according to experts, from one single c. 242 carat pink diamond, and the Pink Star, a diamond weighing 59.60 carats.

The Winston Blue is the name given to what was the largest flawless vivid blue diamond bought by Harry Winston, Inc. on May 15, 2014, from an anonymous person for $23.8 million at Christie's Geneva Magnificent Jewels sale. The approximately $1.8003 million per carat price paid for the 13.22-carat diamond is a world record for a blue diamond. Harry Winston, Inc. had also bought a 101.73-carat colorless diamond named Winston Legacy at Christie's Geneva jewelry auction in 2013. The American luxury jeweler had then paid $26.7 million for the colorless diamond, which is a world record for the highest price paid per carat for a colorless diamond.

Sunrise Ruby 25.59-carat ruby from Myanmar

The Sunrise Ruby is the world's most expensive ruby, most expensive coloured gemstone, and most expensive gemstone other than a diamond. Originally mined in Myanmar, its current name is derived from a poem of the same name, written by the 13th-century Sufi poet Rumi.

Blue Moon of Josephine Blue diamond, sold for record 48.4 million in November 2015

The Blue Moon of Josephine is a 12.03 carats (2.406 g) blue diamond, described as flawless by experts, that was discovered in South Africa in January 2014 and was sold at a Sotheby's auction in Geneva in November 2015 at a record-setting price of $48.4 million. The diamond is the largest cushion-shaped blue stone classified as "fancy vivid" ever to appear at auction.

The Oppenheimer Blue is a 14.62-carat (2.924 g) vivid blue diamond that in May 2016 became the most expensive jewel ever sold at auction, until April 2017 when it was surpassed by the Pink Star diamond.

Pink diamond

Pink diamond is a type of diamond that has pink color. The source of their pink color is greatly debated in the gemological world but it is most commonly attributed to enormous additional pressure that these diamonds undergo during their formation.

The Pink Legacy is a pink diamond that was purchased by Harry Winston, Inc. in 2018. It was renamed Winston Pink Legacy by CEO Nayla Hayek. The diamond was sold at a Christie's auction for 50.375 million Swiss francs ($50m), and at $2.6 million per carat it set a world record at the time of its sale for a pink diamond.

References

  1. 1 2 "Pink diamond to sell for £24m". London: Telegraph. 2010-10-04. Retrieved 2011-12-14.
  2. 1 2 "BBC News - Rare pink diamond sells for record-breaking £29m". bbc.co.uk. 2010-11-16. Retrieved 2011-12-14.
  3. "Graff Diamonds". Graff Diamonds. Archived from the original on 2018-11-14. Retrieved 2011-12-14.