This rare 24.78 carat pink diamond is going on sale today at Sotheby’s Geneva. According to a Sotheby’s statement, the stone is an exceptionally rare pink diamond of the purest, vibrant hue, and graded Fancy Intense Pink by the Gemological Institute of America, who rated it as flawless after repolishing. The diamond has not been on the open market since it was sold 60 years ago by U.S. jeweler Harry Winston to an unknown buyer. It has been in a private collection ever since and is only now being brought back to the market. Though valued at a pre-sale estimate of $27-$38 million, exclusive of buyer’s premium, it is expected to sell for $60 million.
Update: London jeweler Laurence Graff paid $46,158,674, for the 24.78 carat “fancy intense pink” diamond, which he immediately named The Graff Pink. “It is the most fabulous diamond I’ve seen in the history of my career and I’m delighted to have bought it,” Graff said in a statement released by auction house Sotheby’s, which offered the stone at its Geneva sale.