Rare 25-Carat Pink Diamond Found Among Imelda Marcos CollectionNovember 25, 15
(IDEX Online News) – A recent appraisal of former Philippines first lady Imelda Marcos’ jewelry collection has discovered a rare 25-carat, barrel-shaped pink diamond, according to a report in Reuters.
"We had an extremely exciting find," said David Warren, director of Jewelry at Christie's in London. "We found an old briolette-cut diamond, which is 25 carats. It has a distinct pink color. Pink diamonds are exceedingly rare," he added, reported Reuters.
Warren estimated that the diamond alone could be valued at as much as $5 million, significantly increasing the sale price of the entire collection. The collection was valued at $6-$8 million in 1991.
The Philippine government tried to auction the former first lady’s three jewelry sets in 2005, but Marcos, now an elected member of Congress contested the move. The government is having the collection appraised and will then decide whether or not to auction the pieces.
According to The Guardian, the jewels have been stored in a vault at the Philippines central bank for nearly 30 years.
Sotheby's will appraise the collection tomorrow (Thursday).
Pure, vivid pink diamonds of in excess of 10 carats do not come up for auction very often. Earlier this month, Joseph Lau purchased a 16.08-carat cushion-shaped fancy pink diamond for $28.5 million at Christie’s Geneva Magnificent Jewels.