Pink diamond sold for record-breaking $50m

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The "Pink Legacy" diamond weighing just under 19 carats fetched a record 50.375 million Swiss francs ($50 million) when it was auctioned for the first time ever on Tuesday, Christie's said.

The Pink Legacy is particularly special in that for a pink diamond of its size, it has no secondary coloring-no gray, orange, or purple hue, which is typical in a gemstone of that size.

That amounts to $2.176m per carat, which remains the world auction record price per carat for any pink diamond.

"The Pink Legacy brought this extremely high price of $50 million, so $2.6 million per carat which is a world record price for a pink diamond", Francois Curiel, Christie's chairman for Europe, told journalists.

In this photo taken on November 08, 2018, The Pink Legacy, an 18.96 carat fancy vivid pink diamond once owned by the Oppenheimer family is displayed during a press preview ahead of sales by Christie's auction house in Geneva.

Graded "vivid", the highest rating for a pink diamond's color, the gem is internally pure with a rectangular cut, and mounted on a platinum ring.

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The diamond is an even rarer find because of its size, as Fancy Vivid Pink diamonds larger than 10 carats are "virtually unheard of", according to Christie's. But this is nearly 19 carats, and it's as pink as can be.

Previously, the diamond was reportedly owned by the Oppenheimer family, which operated the De Beers diamond mines for three generations until selling the stake seven years ago.

"It is probably the most handsome (specimen) ever presented at public auction", Mr Lunel said. It was the largest polished diamond ever auctioned.

One of them, the almost 15-carat Pink Promise, was sold last November at a Christie's auction in Hong Kong for $32.5m.

While 86 percent of the lots found a buyer, a big heart-shaped white diamond of 53 carats, expected to fetch around $3 to 5 million, went unsold.

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