Following the sale of the Pink Star, a 59.60-carat pink diamond ring for $71.2 million at Sotheby’s Hong Kong in April 2017, the Jewellery Editor delves into some of the most expensive rings in the world.
The Pink Star
The 59.60-carat pink diamond ring features the largest Internally Flawless Fancy Vivid diamond ever graded by the GIA. Selling for $71.2 million, it is now the most expensive ring in the world and the most valuable gemstone ever sold at auction. It was sold to Chow Tai Fook and was renamed the CTF Pink after the company’s initials.
The Oppenheimer Blue Diamond Ring
The Oppenheimer Blue, the second most expensive jewel to sell at auction, sold for $57.7 million at Christie’s Geneva in May 2016. Believed to be sourced at the Cullinan mine in South Africa, it was named after renowned diamantaire Sir Philip Oppenheimer, who gave the ring to his wife Pamela.
Credit: Christie’s
The Graff Pink
The Graff Pink was bought by jeweler Laurence Graff in 2010 for $46.2 million. Graff said the emerald-cut Fancy Intense pink gem was “the most fabulous diamond” he’d ever seen in his 35-year career. The Graff Pink is set into a platinum ring flanked by two shield-shaped white diamonds. It was previously owned by American jeweler Harry Winston.
Credit: Graff Diamonds
The Cullinan Dream
The 24.18 carat Cullinan Dream was sold for $25.4 million at Christie’s New York in June 2016. The rectangular mixed-cut stone is set onto a platinum ring with baguette-cut diamond side stones. Like the Oppenheimer Blue, the Cullinan Dream comes from the Cullinan mine, and is the largest of four gems cut from a 122.52 carat rough blue diamond unearthed there in 2014.
Credit: Iris Hortman
According to the piece, “the fact that all the rings featured here are set with colored rather than colorless gems highlights the strong demand for high-quality colored diamonds”. Blue diamonds account for only 0.0001% of all gems mined, and only around 1% of these stones “display the color tone and saturation that allow them to be classified as Fancy Vivid”.
As for pink diamonds, only 50 or 60 top-quality gems appear on the market each year, and rake in between 20% and 40% more per carat than the equivalent white diamonds.
FAQ The Most Expensive Rings in the World
What makes the Pink Star the most expensive ring ever sold at auction?
The Pink Star, a 59.60-carat pink diamond ring, sold for $71.2 million at Sotheby’s Hong Kong in April 2017, making it both the most expensive ring in the world and the most valuable gemstone ever sold at auction. What makes it so exceptional is that it features the largest Internally Flawless Fancy Vivid pink diamond ever graded by the GIA. The ring was purchased by Chow Tai Fook and subsequently renamed the CTF Pink after the company’s initials, cementing its place in auction history.
Why are colored diamonds commanding such high prices compared to colorless diamonds?
The article highlights that all the most expensive rings feature colored rather than colorless gems, reflecting the strong demand for high-quality colored diamonds due to their extreme rarity. Blue diamonds account for only 0.0001% of all gems mined, and only around 1% of these stones display the color tone and saturation necessary to be classified as Fancy Vivid. Pink diamonds are equally rare, with only 50 to 60 top-quality gems appearing on the market each year, commanding 20% to 40% more per carat than equivalent white diamonds.
What is the significance of the Oppenheimer Blue diamond ring?
The Oppenheimer Blue, which sold for $57.7 million at Christie’s Geneva in May 2016, is the second most expensive jewel ever sold at auction. Believed to be sourced from the renowned Cullinan mine in South Africa, the ring was named after Sir Philip Oppenheimer, a respected diamantaire who gave the ring to his wife Pamela. Its exceptional value reflects both its provenance from one of the world’s most famous diamond mines and its association with the prominent Oppenheimer family in the diamond industry.
How does the Cullinan Dream connect to other famous diamonds from the same mine?
The 24.18-carat Cullinan Dream, which sold for $25.4 million at Christie’s New York in June 2016, has a fascinating origin story as it’s the largest of four gems cut from a 122.52-carat rough blue diamond discovered at the Cullinan mine in 2014. This rectangular mixed-cut stone is set in platinum with baguette-cut diamond side stones, sharing its prestigious source with the Oppenheimer Blue. The Cullinan mine’s reputation for producing exceptional diamonds continues to add significant value and prestige to stones originating from this legendary South African location.
