Record: The Most Expensive Gem Ever Sold At Auction
Some of the most valuable gems in the world are colored diamonds that have been graded (D) and flawless. One such diamond was discovered in the 1950s, when American jeweler Harry Winston purchased a rare pink diamond from an unknown collector. The diamond was 24.78 carats in size, and was described by Winston as “one of the greatest diamonds ever discovered.” It was classified by the Gemological Institute of America as a “fancy intense pink diamond,” which is an extremely high color rating. The gem has also been assessed as Diamond Type IIa, placing it in the top 2% of the world’s diamonds. It is cut into a rectangular shape with rounded corners, and is mounted on a ring.
In the 1950s, the diamond was sold by Winston to a private collector, who owned it up until 2010. At that time, it was put up for sale by Sotheby’s auctioneers in Geneva, Switzerland, where the pink diamond sold for US $46 million (£29 million), making it the most expensive single jewel ever sold at auction. It was purchased by diamond dealer Laurence Graff, of Graff Diamonds, who gave it its current name of Graff Pink.