Spirit of the Rose Diamond Sold

The 14.83 carat rare pink diamond sells for $26.6 million

GENEVA - 6. November 2020 - A rare purple-pink diamond was sold at Sotheby auction in Geneva, Switzerland, to an unknown buyer, who paid $26.6 million.

This ultra rare Russian pink diamond has been named Spirit of the Rose or L'Esprit de la Rose in French. It got its name from the 1911 Russian ballet "Le Spectre de la rose". The diamond was found by Russian Alrosa mining company in 2017.

The Spirit of the Rose

It was cut from a larger rough diamond unearthed in Yakutia, northeast Russia region. Cutting and polishing thid diamond into the Spirit of the Rose took more than a year.

The Sotheby's estimate was that the 14.84 carat diamond will fetch between $23 and $28 millions. The actual price paid ended up closer to the higher end of estimate. The Spirit of the Rose is the most expensive purple-pink diamond ever sold.

Because of their rarity, larger pink diamonds attract more interest at auctions and fetch higher prices, as did Spirit of the Rose.

Only 1 percent of pink diamonds are large

It is estimated that 99 percent of pink diamonds rare 10 carats or less in size. So, this is one of rare pink diamonds beloging to the 1 percent of large pink diamonds. No wonder it attracted such a high price.

The largest in the category of pink diamonds is the 56.9 carats Pink Star diamond, sold in Hong Kong in 2017.

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