Bonhams has sold a pink diamond for $583,551 per carat, a world-record price for its color category, the company reported.
The 5.03-carat, fancy-pink VS1 garnered $2.9 million at the auction house’s Fine Jewellery sale in London last week. The previous record for a fancy-pink diamond was $528,021 per carat for a stone sold at Sotheby’s in 2016.
“Large pink diamonds are continuing to increase in value year on year,” said Emily Barber, director of jewelry at Bonhams UK. “They are highly desirable to discerning collectors given their rarity and limited supply.”
The stone’s value lies in its even color saturation, cut and size, Barber added. It is exceptionally rare to see pink diamonds over five carats on the market, she explained.
Other notable items at the auction included a three-stone ring featuring an old-brilliant-cut, 0.95-carat, fancy-blue diamond surrounded by two marquise-cut, fancy-yellow-orange diamonds weighing 0.51 and 0.56 carats. The piece sold for GBP 168,750 ($218,750), well over its original estimate of GBP 80,000 to GBP 120,000 ($103,704 to $155,556).
Two tiaras also exceeded expectations. A Belle Époque diamond headpiece designed by Spanish royal jeweler Ansorena in the classical Greek meander style achieved GBP 162,500 ($210,650) against a presale estimate of GBP 80,000 to GBP 120,000, while a Hennell Art Deco tiara went for GBP 81,250 ($105,320), beating its valuation of GBP 40,000 to GBP 60,000 ($51,850 to $77,780).
In all, Bonhams sold 89% of the lots available at the auction, bringing in total proceeds of GBP 6.9 million ($9 million).
The next Bonhams Fine Jewellery sale will take place in Hong Kong on November 25.