Rare Diamond The Eternal Pink Will Be Auctioned Next Week, Estimated To Sell IDR 521 Billion

Diamond The Eternal Pink. (Source: Sotheby's)

JAKARTA - Are you a collector and lover of diamonds and gemstones? Don't miss the opportunity to have The Eternal Pink's rare diamond which is planned to be auctioned off next week.

Named The Eternal Pink weighing 10.57 carats, this diamond will be auctioned in an event titled 'Sotheby's Magnificent Jewels' on June 8 at Sotheby's New York, United States, as quoted from the website of the June 1 auction house.

Called to have "rivaled colors and luminosities", the diamond is expected to sell for more than US$35 million or around Rp521,566,500,000, in an auction conducted four years after South African company De Beers found it in one of its mines in Botswana.

Officially classified as the "guungian pink" color, it is the most valuable diamond of its auspices ever appeared at auction, according to Sotheby's.

Head of auction house jewelry for America Quig Bruning said in a statement the stone "joined the ranks of the most important diamonds in history."

The price of diamonds is largely determined by what gemologists call four 'C': carat (carat), cut (cut), color (color) and clarity (clarity).

For the latter assessment, the stone has been classified as "internally flexible", meaning any defect is seen only under near magnification.

Meanwhile, the color has been designated as a "phancy vivid", the highest level of intense color achieved by only 4 percent of pink diamonds.

"This color is the most beautiful pink color and concentrated in diamonds I've seen or what I've marketed on," Bruning said, as quoted by CNN.

"The extraordinary presence and scarcity of The Eternal Pink, making it comparable to the final work of art much rarer than Magritte or Warhol," he continued.

The Eternal Pink was cut from a rough diamond found in 2019, weighing 23.87 carat more than twice as heavy as it is now. The Diacore diamond company took six months to turn the rock into its present shape.

It is known, the auction record for pink diamonds - or polished diamonds of any color - is currently held by a 59.6 carat stone selling for $71.2 million in Sotheby's Hong Kong in 2017.

The pink diamond was purchased by Hong Kong jewelry maker Chow Tai Kook and changed its name to "CTF Pink Star".

Meanwhile, a pink diamond weighing 11.15 carat dubbed "Williamson Pink Star" holds the record high price of a stainless auction, after selling for 453.2 million Hong Kong dollars (58 million US dollars) last year.