The word diamond comes from the Greek word adamas, which means unbreakable. Perhaps because of this quality, diamonds have been associated not only with loyalty, but also with power and resistance. And it is this symbolism, combined with the extraordinary rarity of some of its specimens, which has made them coveted by the most powerful and influential, from monarchs to movie stars. These jewels have also shown a stable economic value throughout history, being commercialized, at least, since the 4th century BC. hence there are those who consider them the first universal currency.
The idea of ​​the diamond as a solid object, both sentimentally and physically, reinforces its image as one of the most solvent investments, something to turn to especially in times of financial uncertainty, today more than ever. Different experts from the world of jewelry state that “never before has appreciation for exceptional diamonds been so remarkable.”
On June 8, the high jewelry market could experience a new milestone. Up for bids is The Eternal Pink, a sensational bubblegum pink diamond that Sotheby’s has estimated at $35 million. The stone has a weight of 10.57 carats and is mounted in a ring. The color quality is Fancy Vivid, its purity grade is Internal Flawless, and its appraisal per carat is close to $3.3 million.
The 23.78-carat rough diamond from which The Eternal Pink originates was mined by the De Beers company at the Damtshaa mine in Botswana in 2019. Its exquisite cushion cut is the fruit of six months of meticulous work by the team of goldsmiths from the Diacore house. When valuing a diamond, four aspects are taken into account: carats, clarity, cut and color, the latter being the most important and taking precedence over the other criteria.
Of all diamonds submitted to the Gemological Institute of America (GIA) less than 3% are classified as colored. Within these, roses are the most difficult to find in nature. Interestingly, what gives them their coveted chromaticism remains a mystery. While some get their hue from certain trace elements—for example, nitrogen for yellow diamonds, or boron for blue diamonds—scientists haven’t figured out exactly what causes the pink hue. It is thought, however, that it arises at some point during the process of formation of the stone inside the earth.
Three pink diamonds appear in the ranking of the five most precious. The most expensive is the Pink Star sold in 2017 for 71.2 million dollars in Hong Kong, and in that city it was delivered to an American collector for 57.7 million dollars in the fall of 2022, the second most valued.
“Eternal Pink has the most beautiful, concentrated shade of pink I have ever seen in a diamond. Its powerful presence and its rarity make it comparable to great works of art because it is something much more extraordinary than a Magritte or a Warhol. Given its exceptional purity, it would not be surprising if it achieved the highest estimate per carat for a diamond to date,” said Quig Bruning, Head of Jewelry at Sotheby’s America.
