'The Pink' diamond sells for $28.5 million at Geneva auction

AP News
Posted: Nov 10, 2015 4:48 PM
'The Pink' diamond sells for $28.5 million at Geneva auction

GENEVA (AP) — Christie's says a 16.08-carat vivid pink diamond set in a ring and rounded with a double row of smaller white diamonds has sold at auction for 28.7 million Swiss francs ($28.5 million) including fees.

The cushion-shaped diamond, said to be the largest of its kind sold at auction, was the showcase gem in Christie's sale of jewelry in Geneva. Excluding fees, "The Pink" sold for 25.5 million Swiss francs, which was within the pre-sale estimate range of 21 million-27 million Swiss francs ($23-28 million).

The buyer was not immediately identified.

On Wednesday, rival Sotheby's puts the 12.03-carat Blue Moon Diamond under the hammer. Its pre-sale estimate is $35-$55 million, which could set a new auction record. The record-setting Graff Pink sold five years ago for more than $46 million.