Weighing 10.57 carats and named The Eternal Pink, the 'ultra-rare' gemstone will go under the hammer this June
A pink diamond of “unparalleled color and brightness” is expected to fetch over $35 million when it goes on sale in New York, auction house Sotheby’s announced Wednesday. Weighing 10.57 carats and named The Eternal Pink, the “ultra-rare” gemstone will go under the hammer this June, four years after South African firm De Beers discovered it at one of its mines in Botswana.
This is due, in part, to a slump in supply caused by the 2020 closure of Australia’s Argyle Mine, which previously produced most the world’s pink diamonds. According to an index compiled by brokerage Australian Diamond Portfolio, the average price of the colored stones jumped 30% in just the 12 months before June 2021. The Eternal Pink was cut from a rough diamond, discovered in 2019, that at 23.87 carats weighed more than twice as much as it does now.
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