Rare pink diamond worth Ksh.4.6 billion set for auction in New York

A rare, vividly rosy-purple diamond, called the Eternal Pink and valued at $35 million (approx. Ksh.4.6 billion), is set to be auctioned off by Sotheby's as part of its Magnificent Jewels sale in New York in June.

The 10.57-carat stone is being marketed as the most valuable purplish-pink diamond ever brought to auction, with the highest ever pre-auction price per carat estimate, according to Sotheby's.

"Its refined lines combined with the intensity of its color earn it a place as one of the world's most extraordinary gems," Tom Moses, executive vice president and chief laboratory and research officer at the Gemological Institute of America said of the cushion-cut diamond.

According to Sotheby's, the stone, which was mined in Botswana, is "comparable to ultimate masterpieces of art -- far rarer than a Magritte or a Warhol," thanks to its clarity and lack of imperfections.

Pink diamonds are among the rarest and most sought-after gems in the world and considered a major draw for investors.

The record for highest-ever auction price for such a stone is held by the CTF Pink Star, which was sold for Ksh.9.4 billion in Hong Kong in 2017.

The Williamson Pink Star diamond, which sold for Ksh.7.6 billion in 2022, also in Hong Kong, holds the record for the highest price per carat, at nearly Ksh.687,000.