Christie's 19ct. Pink Legacy Fetches $50M

RAPAPORT... Harry Winston bought a pink diamond for more than $50million at Christie's Magnificent Jewels sale in Geneva, setting a worldauction record.  The rectangular-cut, 18.96-carat, fancy-vivid-pink stonewent for $50.4 million at the auction Tuesday, becoming the most expensive pinkdiamond Christie's has sold, the auction house said. At $2.7 million per carat,it also achieved a world-record average price for a pink diamond at auction,beating the 14.93-carat Pink Promise, which fetched $32.5 million ($2.1 million per carat) at Christie's Hong Kongin 2017. The buyer renamed the stone - formerly the Pink Legacy - as theWinston Pink Legacy. It previously belonged to the Oppenheimer family, and hada presale estimate of $30 million to $50 million. "This exceptional diamond captured the imagination ofinternational collectors across the globe, with over 30,000 people visitingChristie's sale previews to see this remarkable stone," said Rahul Kadakia,Christie's international head of jewelry. "It has taken its rightful placeamong the world's greatest diamonds." The auction also saw an Art Deco piece by Van Cleef &Arpels fetch $4.3 million, well above its presale estimate of CHF 2 million toCHF 3 million ($2 million to $3 million). A natural-pearl necklace garnered$1.2 million against a valuation of CHF 240,000 to CHF 340,000 million ($238,190to $337,345 million). Some 86% of lots sold at the Magnificent Jewels auction, yieldinga total of $110.2 million. The event was 90% sold by value of items available. Image: The Winston Pink Legacy. (Christie's)