The largest pink diamond, weighing in at 10.11 will be auctioned off to the public at 1pm on Sunday, October 3rd at the Toronto Park Hyatt Hotel in Canada. The auction, expected to bring in anywhere from $8 to $12 million, will be held by Duncan Parker, president of the Canadian Gemological Association.
According to reports, this is “orangish-pink” diamond discovered in the Argyle mines of Australia is to go down in history as the most expensive diamond ever auctioned in Canada. “This is really extraordinary stuff,” said Parker.
The Argyle mine in Australia is one of the largest producers of pink diamonds in the world, although it is still a mystery as to what conditions create pink diamonds. With the Argyle mine scheduled to close in only a few years, pink diamonds are projected to become even rarer.
The auction is expected to bring in handfuls of rich and famous due to the rarity and exceptional qualities of this specific pink stone. Pink diamonds are already quite rare, and large, richly colored pink stones are even rarer than that. Most pink diamonds weigh in under three carats, but this unique fancy colored diamond is over three times that weight.
Because this exceptional diamond has never had a private owner, it has remained nameless. “Diamonds of this size are given a name, which stays with it for eternity…the owner can select a lover’s name, a family name or mark a specific occasion forever,” said Parker.
“Since this diamond has never been in private hands, the lucky bidder will not only get the stone, but also a small piece of history,” Parker remarked.
Pink diamonds are notorious for increasing exponentially in
diamond price per carat. Only recently, in December of last year, a 5 carat pink diamond was auctioned in Hong Kong for $10.8 million setting the world record price per carat.
While the Toronto pink diamond is over twice the weight of the Hong Kong diamond, the Honk Kong diamond was a certified internally flawless gemstone with absolutely no inclusions. The Toronto diamond is of slightly lesser quality, certified as a VS2 diamond, meaning that very slight inclusions invisible to the naked eye do exist inside the stone.
The spectacular pink diamond will be on display for public viewing on Saturday, October 2nd, along with a number of other rare and exceptional gems. The pieces will be auctioned to the public the following day at 1:00pm.
