Pink Diamond To Fetch $15 Million

Published on 16/03/11

A purplish-pink diamond in excess of 10 carats could fetch as much as $15 million when it is sold at a Magnificent Jewels auction next month, Christie's said Wednesday.

The 10.09 carat Fancy Vivid cushion-cut is expected to be the highlight of the sale on April 12 in New York.

Prices for large pink diamonds have skyrocketed at auctions in recent years, with four pink diamonds going for more than $1 million per carat since late 2009, Christie's said.

Demand and increasing rarity have drive up prices, making them the most expensive colored diamonds on the market.

"Collector demand for large colored diamonds has never been stronger, especially where pink diamonds of this size and quality are concerned," said Rahul Kadakia, head of jewelry at Christie's in New York.