31.86-ct Orangy Pink Diamond Sells for $8.8m
December 08, 25
(IDEX Online) - The largest Fancy Vivid "orangy pink" diamond ever graded by the Gemological Institute of America (GIA) fetched $8.8m at a debut auction in Abu Dhabi, well above its $5m to $7m pre-sale estimate.
Sotheby's described the sale as a world record. While previous record-breaking pink diamonds at auction have sold for higher prices, they have typically been classified under the broader "pink diamond" or "fancy vivid pink" categories, rather than the more specific "orangy pink" designation that makes the Desert Rose unique.
The 31.86-carat VVS1-clarity pear-shaped gem was among the highlights of Sotheby's 42-lot Precision & Brilliance: Prestigious Jewels & Watches from an Important Private Collection sale, on 5 December.
Bidding for the gem reportedly lasted nearly 20 minutes, with five bidders raising the price in $50,000 increments.
The auction raised over $25.4m, well above its $20m pre-sale estimate.
It was part of the inaugural Abu Dhabi Collectors' Week, held at The St. Regis Saadiyat Island Resort, just off the Abu Dhabi coast.
A set of four ultra-rare Patek Philippe double-dialled pocket watches known as Star Caliber 2000 - one each in yellow gold, white gold, rose gold, and platinum - sold for $11.9m, above the pre-sale low estimate of $10m, but well below the high estimate of $20m.
Collectors from 35 countries took part in the sale, Sotheby's said, with nearly a quarter of bidders coming from the UAE.
Pics, courtesy Sotthby's, shows the Desert Rose and the auction in Abu Dhabi.