Wednesday, November 17, 2010

Billionaire Diamond Dealer Acquires Another Historic Diamond

The highly anticipated auction of the rare, “potentially flawless,” over 24 carat pink diamond went off without a hitch on Tuesday, smashing world records and making history.

Often referred to as The Pink Panther diamond, the 24.78 carat, fancy intense pink diamond was sold at an auction administered by Sotheby’s in Geneva, for $46 million, beating expectations by the millions, and now holds the record for the most expensive diamond ever sold at auction.

Last sold by Harry Winston to the seller who wishes to remain anonymous 60 years ago, the diamond was originally estimated to sell for anywhere from $27 to $38 million, however the price was driven upwards in a four person bidding competition. The winner was Laurence Graff.

Graff, an English Jeweler originally from London, made international headlines in 2008 when he bought the famed Whittelsbach diamond, a 35.56 fancy blue diamond, setting the previous record for the most a diamond has ever sold for at auction.

It was later revealed that Graff had recut the diamond by more than four carats to remove flaws, upsetting purists who argued that he had altered history. The new 31.06 carat diamond, renamed The Whittelsbach-Graff, was on displayed alongside the Hope diamond in The Smithsonian Natural History Museum until recently.


No word from Graff on what he plans to do with the massive pink diamond, which he has already renamed ‘The Graff Pink,’ however he has expressed his pleasure at having acquired yet another historic piece.

“It’s the most beautiful diamond I’ve ever seen in the history of my career,” Graff said in a statement. “And I’m delighted to have bought it.”

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