Laurence Graff Wins Sotheby’s 24.78ct Pink Diamond for $46M on Auction
Said “it’s the most fabulous diamond”...Sotheby’s Geneva realized a world auction record price for any diamond and any jewel when it sold an exceptionally rare 24.78-carat, VVS2, fancy intense pink diamond of the purest, vibrant hue for $46,158,674 (CHF 45,442,500). Four bidders competed for the pink diamond, but the winning bid went to Laurence Graff. Shortly after the sale, Graff named the diamond “The Graff Pink” and stated, “It is the most fabulous diamond I’ve seen in the history of my career and I’m delighted to have bought it.”
Commenting on the sale of the pink diamond, David Bennett, chairman of Sotheby's Europe and the Middle East jewelry department, said, “Tonight’s spectacular result demonstrates that truly extraordinary objects will bring truly extraordinary prices. This outstanding pink diamond combined exceptional color and purity with a classic emerald-cut and fully deserves the exceptional price of $46,158,674. It was simply one of the most desirable diamonds I have seen during my 35-year-career at Sotheby’s.”
This diamond 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 Harry Winston.
The Geneva sale also set a record total for Sotheby's at $105,051,728 (CHF 103,421,800), a figure well above presale expectations of CHF 65.8 million to CHF 95.3 million. The sale of Magnificent Jewels was 82 percent sold by lot. Top prices were achieved for important white diamonds, rare colored stones, jewels with important provenance and exceptional signed pieces.
The second top lot of the sale realized $2,814,163 for a 4.59-carat, pear-shaped fancy intense pink diamond ring, followed by a 20.16-carat diamond ring by Graff, which sold for $2,757,281. The fourth top lot was an important diamond ring by Harry Winston featuring a 20.18-carat emerald-cut center stone flanked by tapered baguette diamond shoulders, which sold for $2,472,868. A diamond necklace and brooch signed by Adler rounded out the top five lots at $2,359,103, and featured a graduated line of 39 brilliant-cut diamonds.
By: Jeff Miller
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