“The diamond’s character and immense presence is further enhanced by its perfect cut and oval shape.” “Having the opportunity to offer a large polished pink diamond of over 10-carats and with the richness of color and purity of The Spirit of the Rose is therefore truly exceptional,” he says. Gary Schuler, worldwide chairman of Sotheby’s Jewellery Division, said in a statement that only one percent of all pink diamonds are larger than 10 carats and only four percent of all pink diamonds are graded as fancy vivid, displaying a rich, vivid color. This purple-pink color makes the stone even more special and the estimate of $1.55 million per carat (at the low end) for such a magnificent diamond should attract connoisseurs and collectors.” “It means the color is 50% pink, 50% purple, according to the Gemological Institute of America. “The color purple-pink is rare and pushes the stone towards the red side of the spectrum for colored diamonds,” he says. He adds that its purple-pink color, its exceptional clarity and its fancy vivid color all adds to the value of this 14.83-carat gem. “Pink diamonds are so rare that they account for less than 0.001% of Alrosa’s production volume.” “In the last 10 years, Alrosa has found only four pink diamonds weighing more than two carats and two stones larger than 20 carats,” he says. However, Repellin says that with the closing of the Argyle mine, statement pink diamonds will be increasingly rare. At least two of its projects in Russia are producing colored diamonds, including pinks, and the company says it could potentially satisfy up to 30% of the colored-diamond market. Alrosa said previously that it wants to meet this demand for rare fancy colored diamonds. It currently produces more than 90% of the world’s pink diamonds. The appearance of The Spirit of the Rose at auction also coincides with the expected closure of the Rio Tinto’s Argyle mine in Australia, due to depletion. Driven by limited supply and rising demand, prices for top-quality large pink diamonds have increased exponentially over the past decade.
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