Alrosa, the Russian diamond mining and marketing giant, has called the largest pink diamond ever discovered and produced in Russia, “Spirit of the Rose,” after a legendary short ballet of the exact same name.
The Spirit of the Rose Pink Diamond
The gem was developed from a 27.85-carat clear pink rough diamond unearthed two years ago from the Alrosa-owned Ebelyakh mine in the Republic of Sakha (Yakutia) in northeast Russia. The finished diamond was unveiled in February.
At 14.83 carats, it is among roughly 10 known pink diamonds ever offered for sale that surpassed 10 carats during the past 10 years. The Gemological Institute of America, a non-profit research study and education center for the gem and precious jewelry industry that focuses on gem grading, specified it as “Fancy Vivid Purple-Pink” and mentioned that it is the biggest such diamond the lab has actually ever graded. It was likewise revealed to be internally flawless with excellent polish and excellent symmetry, according to the GIA report.
The Spirit of the Rose Pink Diamond
“In the world of colored diamonds, pink diamonds are some of the most valued, specifically at bigger sizes,” John King, GIA primary quality officer, said in a declaration. “It’s unusual to see pink diamonds in the market over one carat today.
This diamond likewise has the advantage of being one of the most demanded colors in the market today. Pink diamonds (in addition to blue diamonds) are attaining the greatest prices at auction. Many in the fashion jewelry and diamond industry think this demand will continue– especially for pinks, since Rio Tinto’s Argyle mine in Australia, which produces more than 90% of the world’s pink diamonds, is anticipated to close as early as 2020.
“In the world of colored diamonds, pink diamonds are some of the most valued, especially at larger sizes,” John King, GIA chief quality officer, said in a statement. Pink diamonds (along with blue diamonds) are attaining the highest costs at auction. Many in the jewelry and diamond market think this demand will continue– especially for pinks, because Rio Tinto’s Argyle mine in Australia, which produces more than 90% of the world’s pink diamonds, is expected to close as early as 2020.
The pink gem is anticipated to fetch among the greatest prices ever for a diamond when it is put up for sale later this year.
Alrosa, representative Evgeniya Kozenko, stated that the oval stone has been certified by the Gemological Institute of America as fancy, vibrant purple-pink with outstanding clearness, excellent polish and excellent proportion.
Coloured diamonds, formed by impurities such as boron or nitrogen, are the most expensive and rarest, with pink and red stones fetching the greatest rates. The Spirit of the Rose might be among the most expensive pink stones ever, according to Eden Rachminov, the chair of the Fancy Color Research Study Structure.
He approximates the possible price at in between $60m and $65m.
Sotheby’s set the record for any gem ever sold at an auction in 2017, with its $71m sale of the 59.6-carat Pink Star to Hong Kong-based jewellery seller Chow Tai Fook Jewellery group. The stone was mined by De Beers, and dethroned the Oppenheimer Blue, which brought $58m in an earlier sale at Christie’s.
Kozenko did not comment on how much Alrosa intends to raise from the sale. He however said that ‘The Spirit of the Rose pink diamond’ will be the most costly stone ever polished in Russia. The company is still considering how to perform the sale.
It’s a great time for a sale, as pink stones are about to get even rarer after Rio Tinto Group validated earlier this year that it is shutting its giant Argyle operation in Australia. The mine produces about 90% of the world’s pink gems.
Alrosa found the 27.85-carat rough stone at its alluvial mines in Russia’s far east in 2017 and called it Nijinsky, after ballet dancer Vaslav Nijinsky. The preparation and cutting process, which took a full year, was done at Alrosa’s cutting factory in Moscow.
The Spirit of the Rose was named after the ballet Le Spectre de la Rose, staged by the Ballets Russes company, which premiered in 1911 and in which Nijinsky was the star.
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