A pink diamond sold for a record amount in Hong Kong to… an anonymous bidder.
- A 5 carat pink diamond, the size of a chickpea, set in a silver ring was auctioned off for a record $10.8 million.
- The diamond was sold to an unidentified individual. Christie’s International (which held the auction) would not confirm if he or she was Chinese. This unidentified person beat out Chinese millionaire and successful stock investor Liu Yiqian and his wife Wang Wei.
- Many items that were sold in the auction sold for prices greater than their value due to a drive in Chinese buying and the growing interest in jewelery among the Chinese.
Facts & Figures
- This pink diamond sale beats out the previous record of $10.5 million for a 7.03 carat blue diamond.
- A cushion-shaped 16.65 carat sapphire set by Van Cleef & Arpels sold for just under $2.4 million.
- Total sales at the Christie’s auction came to just under $48 million.
Best Quote
“Some prices were crazy, way above what one would pay even at a jewelry store. There’s a lot of mainland Chinese buying; either they didn’t know what the items are worth or they wanted them so badly that price didn’t matter.” – Donald May, Hong Kong-based Gem Dealer