The 37.3-carat The Raj Pink which the model is holding, is a fancy intense pink diamond with an estimated worth of GBP 15-22 million. The whooping gem was first discovered in South Africa in 2015 and a master cutter refined the rough crystal and turned it into a precious jewel.
Sotheby’s has put a target price of $30 million on the Raj Pink and what is said to be an extremely rare 37.3-carat pink diamond will auction as the highest offer at Sotheby’s jewel sale on Wednesday, right after news broke that rival auction house Christie’s had sold their 163.41-carat and completely colourless Art of Grisogono D-Colour diamond necklace for nearly $34 million, after taxes and commission, in Geneva.
According to an industry expert, the price paid by the anonymous buyer fell short of expectations and may be a warning sign of a softening diamond market. Gemological Institute of America has certified the diamond as a Fancy Intense Pink, meaning it has unusually clear and natural colour.
In April, a 59.6-carat Pink Star was sold for record price of $71.2 million and it is the highest amount ever paid for a Fancy Intense Pink category, whilst The Graff Pink went for a $46.2 million in 2010. Sotheby’s aims to beat expectations for the Raj Pink.