Pink Legacy is categorized as a “Fancy Vivid” diamond, the highest grade of color intensity. Only 1 in 100,000 diamonds receives the grading. The Pink Legacy shows no trace of a secondary color. “To find a diamond of this size with this color is pretty much unreal, you may see this color in a pink diamond of less than one carat, said Rahul Kadakia, International Head of Jewellery.” It was purchased by American luxury brand Harry Winston and will be renamed the Winston Pink Legacy. The auction house had expected to fetch $30 million to $50 million for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever sold at auction.
“This record-busting price fetched suggests the diamond trade is in good health and signals the market’s sensitivity to Australia’s Argyle mine’s imminent closure in 2020,” Eddie LeVian, CEO of jewelers Le Vian, said in a statement. he stone once belonged to the Oppenheimer diamond family, who ran the De Beers diamond company for decades. Even at Christie’s it has only sold four diamonds weighing more than 10 carats of the same color in its 251 years of history. Prices for top-quality large pink diamonds has increased exponentially over the years.