Argyle Pink Legacy diamond breaks world auction record for pink price per carat – selling for 50.3m Swiss francs at Christie’s

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The 18.96 carat pink diamond, the Argyle Pink Legacy, has sold at Christie’s Geneva for 50.3 million Swiss Francs after 5 minutes of bidding. The diamond came from the collection of former De Beers owners the Oppenheimer family. It has become the world record holder for the price paid per carat for a pink diamond at auction.

Eddie LeVian, CEO of jewellers Le Vian, best known for their trademarked Chocolate Diamonds, most of which come from Australia’s Argyle mine which is set to close in 2020, says:

“‘This record-busting price fetched suggests the diamond trade is in good health and signals the market’s sensitivity to Australia’s Argyle mine’s imminent closure in 2020. With Argyle producing 90% of the world’s pink diamonds, what do you think the value of this diamond will be in five years from now? The world’s ultra high net worth wealth individuals love rare, natural fancy colour diamonds as investments. One might think that since Russia has stopped the spending of the freewheeling oligarchs, China has been controlling its growing billionaires and Saudi Arabia’s crown prince has been blocking other corrupt princes, that the Legacy Pink would have been a hard sell even at Christie’s low estimate of $30 million. But tonight has proved that this is simply not the case.”

The jeweller Le Vian is one of the world’s prolific buyers of stones from Australia’s Australia’s Argyle mine, which is set to close in 2020. Le Vian CEO Eddie LeVian’s expert reaction to the result is below. Le Vian is best known for its trademarked Chocolate Diamonds, 80% of which come from Australia’s Argyle mine which is set to close in 2020.

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