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What A Gem

Most Expensive Jewelry Auction, Pink Diamond Sells For $49 Million

If you really liked it, then you should put this ring on it. A rare pink diamond shattered the record for a jewel at an auction Tuesday in Geneva, going for more than $46 million. London dealer Laurence Graff paid $46,158,674 at Sotheby’s auction house for the 24.78-carat pink diamond gem, which he then christened “The Graff Pink.” In a statement, Graff said, “It is the most fabulous diamond I've seen in the history of my career and I'm delighted to have bought it.” Graff was competing against four other bidders for the diamond and the head of Sotheby’s jewelry division said it was the “highest price ever bid for a jewel at an auction.” The previous record was another of Graff’s purchases—the $24.3 million blue 35.56-carat Wittelsbach-Graff diamond, which he bought in 2008. Though he notoriously recut the blue diamond, it remains to be seen whether Graff will alter this one. Sotheby's Tuesday take totaled $105.1 million, which also marked a record for a single sale.

November 16, 2010 2:25 PM