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Rare Pink Diamond Fetches Record $46M

London dealer snaps up most expensive stone ever sold at auction

By Rob Quinn,  Newser Staff

Posted Nov 17, 2010 1:43 AM CST

(Newser) – An extremely rare pink diamond has cut its way through world records at a Sotheby's auction. The 24.78 carat stone, graded "fancy intense pink," was sold to London jeweler Laurence Graff for $46,158,674, almost double the highest price ever previously paid for a gemstone at auction. Graff—who renamed the stone the "Graff Pink"— called it "the most fabulous diamond I’ve seen in my career," AP reports. The stone was last on the market 60 years ago.

A screen at Sotheby's auction displays an earlier bid for the rare pink diamond.
A screen at Sotheby's auction displays an earlier bid for the rare pink diamond.   (AP Photo/Anja Niedringhaus)
An employee of Sotheby's auction house holds a 24.78 carat fancy intense pink diamond mounted as a ring, that was last seen on  the market some 60 years ago.
An employee of Sotheby's auction house holds a 24.78 carat fancy intense pink diamond mounted as a ring, that was last seen on the market some 60 years ago.   (AP Photo/Lefteris Pitarakis, file)
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COMMENTS
Showing 2 of 4 comments
finkster
Nov 17, 2010 4:00 AM CST
The diamond industry has been scamming the public for years. By holding millions of diamonds from the open market they inflate the prices. With their successful campaigns like "Diamonds are Forever" and "Eternal Love" they have made sure people will spend any amount on something that could be sold as cheaply as a stick of gum.
Riffran
Nov 17, 2010 1:52 AM CST
I prefer MY diamonds on lapidary equipment, and drill bits, tile saws....but that's just me
 

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