A rare, 5-carat pink diamond will be sold in Hong Kong this December by Christie's. Experts predict that the jewel may reach near world record prices, thanks mainly to the enthusiasm of top Asian jewelry collectors.

Set in a "cushion-cut" ring by famed jewellers Graff Diamonds, the diamond is predicted to bring in between $5 - $7 when it goes on auction later this year. It is very feasible the stone breaks the current world auction record for a pink diamond.

In 1994, a 19.66-carat diamond sold in Geneva for $7.4 million. Despite is smaller size, the 5-carat pink diamond is highly praised for its “vivid pink” color and near perfect clarity, and is expected to sell at a similar price. In fact, the jewel is considered one of the best colored diamonds to appear in recent years: "There are pink diamonds and then there are pink diamonds," exclaimed Francois Curiel, the international head of Christie's jewelry department. "It is extremely rare for a stone of such top quality to appear on the market with top notes in color, cut, clarity and carat weight. This 5-carat vivid pink gem combines the best of all criteria," he added.

Despite it not being flawless, the South African-mined diamond’s blemishes could be removed through minor re-polishing according to experts from Christie’s.

Last May, Christie's sold a 101.27-carat diamond in Hong Kong for $6.2 million.
According to Kate Malin, a spokeswoman for Christie’s in Asia: "Asian collectors rank among our most important group of buyers ... Hong Kong is firmly alongside New York and Geneva as a top center for the best jewels."

What makes this colored diamond stand apart from the rest? "In the fascinating realm of natural color diamonds, those of a distinct pink hue are among the rarest and most sought after," Christie's maintained.

 

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