Yippee!! Pink Diamond Sells for Record $46 Million at Auction [View All]

Pink Diamond Sells For Record $46 Million At Auction





November 16, 2010
GENEVA — A rare pink diamond smashed the world record for a jewel at auction Tuesday, selling for more than $46 million to a well-known gem dealer.

London jeweler Laurence Graff paid $46,158,674, for the 24.78-carat "fancy intense pink" diamond, which he immediately named "The Graff Pink."

The sale price was almost double the $24.3 million achieved by the blue 35.56-carat Wittelsbach-Graff diamond in 2008. That was also bought by Graff.

Rich buyers from developing countries have been dipping their hand in the high end of the market in recent years, but experts say emerging middle classes particularly in India are doing as much if not more to lift prices. Ongoing doubts about the stock market have also helped drive up the value of gold and precious jewels, said van Drunen.

http://www.huffingtonpost.com/2010/11/16/pink-diamond-sells-for-re_n_784479.html