11ct. Purple Diamond Expected to Fetch Over $10M

RAPAPORT... Hong Kong-based M&B Diamonds expects to sell a record-setting purple diamond for more than $10 million, after buying the stone from Alrosa.  The cushion modified brilliant-cut, 11.06-carat diamond isthe largest fancy-deep-purple-pink stone the Gemological Institute of America(GIA) has examined, according to the August 2018 grading report. Alrosa originally debuted the gem as part of its "TrueColour" collection in September at the Hong Kong Jewellery & Gem Fair.M&B bought it at tender in Moscow about two months ago, Roi Sheinfeld,owner of M&B Diamonds, told Rapaport News Wednesday. M&B will preview the stone to customers by appointmentonly at its M&B Private Jewelers retail shops in Hong Kong and Singapore.While Sheinfeld chose not to reveal the stone's purchase price, he expects thesale to yield more than $10 million, depending on the design. "As it's one of a kind...we will exhibit it as [a] polishedloose diamond," Sheinfeld added. "The client [who] buy[s] it will have theprivilege [of sitting] with our design team and [creating] a one-of-a-kindbespoke piece." Image: The 11.06-carat diamond (top), and the Alrosa sales brochure for the stone (right). (M&B Diamonds)