The most expensive pink diamond sold at Sotheby's auction

Last year, a rare, purple-pink diamond was sold for $26.6 million at auction house Sotheby’s Geneva sale. Mined in Russia, the diamond was described by experts as "a true wonder of nature."

The stunning gem was named "The Spirit of the Rose," a 14.83-carat oval gem, set a world record for purple-pink diamonds, after it was sold to a telephone bidder, who chose to remain anonymous.

This gem cut from the largest pink crystal found in Russia and was mined in July 2017 by Russian diamond producer Alrosa. It was shown in Taipei, Hong Kong, and Singapore.

In recent years, pink diamonds have been highly coveted by the world's richest. Unlike white diamonds, these stones possess a specific lattice structure that refracts light to produce the effect of colour.

Our diamond expert, Zack Stone said: "Whilst diamonds in general should not be thought of as an investment, there are certain types of diamonds which can make good investments. These include natural-coloured diamonds, which are much rarer and generally very expensive, starting from £50,000 to around £10,000,000.

Natural coloured diamonds have seen the biggest growth in value recently, with pink being one of the most popular colours. The Argyle Diamond Mine in Western Australia, the world’s major source for pink and purple stones, closed down at the end of 2020, therefore prices have increased in recent months due to the increased rarity."

According to Sotheby’s, five of the 10 most expensive diamonds ever sold have been pink.

On May 23rd 2021, another pink diamond is set to be auctioned, and has the potential to beat the current record. The prized purple-pink gem is set to be a part of the house’s upcoming Magnificent Jewels event in Hong Kong, and it certainly qualifies. The Sakura Diamond is the largest of its kind to ever go under the hammer; it weighs a hefty 15.81 carats, which is impressive when you consider that less than 10 per cent of pink diamonds in the world ever weigh more than a fifth of a carat.

The Sakura Diamond, like other natural pink diamonds sold at auction, gets it hue thanks to a distortion of its molecular lattice — a completely random phenomenon that occurs in only less than two per cent of all diamonds in the world. If that wasn't enough, the Sakura Diamond doesn’t just boast rarity; it has clarity too. It falls under the “Internally Flawless” category of diamonds, meaning it has no visible inclusions, meaning it’s crystal clear.