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At US Auction Pink Diamond Sells for Nearly $40 Million

by Rukmani Krishna on April 18, 2013 at 11:47 PM
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 At US Auction Pink Diamond Sells for Nearly $40 Million

A new record for Christie's auction house was set by the sale of a 34.64-carat pink diamond has sold at auction in New York for nearly $40 million.

Dubbed the "Princie Diamond," the gem is "one of the largest and finest pink diamonds in the world," with a "fabulous provenance," Christie's jewellery chief Francois Curiel said ahead of the sale.

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An anonymous telephone bidder paid $39,323,750, or more than $1 million per carat, for the stone from ancient diamond mines in southern India, the auction house said in a statement Tuesday.

The pink gem was once owned by the royal family of Hyderabad and, since 1960, by the London branch of Van Cleef & Arpels.

The exclusive jewellery firm originally paid 46,000 pounds for it, equivalent to $1.3 million today, Christie's said, indicating a hefty profit after Tuesday's sale.
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All told, bidders paid more than $80 million for the jewels at the New York auction, including just under $4.5 million for a 30.32 carat rectangular cut D color diamond and $3.3 million for a Harry Winston diamond ring.

Previously, the most paid at Christie's for a diamond was $24.3 million, for the 31-carat Wittelsbach diamond in 2008.

Source: AFP
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