Double disappointment at Geneva gem auctions as Raj Pink fails to sell
The Raj Pink was among several lots that didn’t find buyers at Sotheby’s, a day after Christie’s sold the Art of de Grisogono for a paltry $34m
Geneva — The Raj Pink, the largest "fancy intense pink" diamond in the world, failed to sell at auction, despite being the highlight of a Sotheby’s sale of precious jewels. The rare 37.3-carat stone, which the auction house was hoping would entice bids of up to $30m, was among several lots that did not find buyers at the sale in Geneva on Wednesday, in a possible sign of a softening in the diamond market. Sotheby’s had high hopes after rival Christie’s on Tuesday sold a huge, 163.41-carat diamond, the Art of de Grisogono for nearly $34m. Although that was the highest price ever paid at auction for a D-colour diamond, an industry expert said it fell short of expectations. The top price ever paid at auction for a fancy intense pink, one of the rarest and most highly sought after of coloured diamonds, is $46.2m paid for the Graff Pink in 2010. Other lots that failed to find buyers on Wednesday included the Donnersmarck Diamonds, two yellow gems weighing 102.5-carats and 82.5-carats tha...
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