Industry News by Nemesis

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

May 15, 2019

 

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 is the 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 “True Colour” 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 NewsWednesday. 

M&B will preview the stone to customers by appointment only 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 the sale to yield more than $10 million, depending on the design. 

“As it’s one of a kind…we will exhibit it as [a] polished loose diamond,” Sheinfeld added. “The client [who] buy[s] it will have the privilege [of sitting] with our design team and [creating] a one-of-a-kind bespoke piece.” 

Image: The 11.06-carat diamond (top), and the Alrosa sales brochure for the stone (right). (M&B Diamonds)

 

Source: Rapaport

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