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The Pink Dream Diamond

By 06.09 September 20th, 2018 No Comments

The Pink Dream Diamond, originally known as the Pink Star Diamond, was found in South Africa in one of the De Beers mines in 1999. Its original rough weight was 132.5 carats. The rarity of pink diamonds affords their being highly sought after gems by diamond investors and all three top diamond prices worldwide are for pink diamonds.

This stone was cut by the Steinmetz Company and became known as the Steinmetz Pink after 50 practice models were cut over a period of two years. It was displayed in Monaco in 2003, and then sold in 2007 and renamed the Pink Star. The Type IIa 59.60 carat, vivid pink IF oval shaped diamond, was sold at a Sotheby’s auction in 2013.

The initial auction price was $48 million, the pre-sale estimate was $61 million, and its eventual price was $83.02 million (including commission fees), a world record for any auction gem sale, surpassing its original estimated selling price. Its new owners renamed the stone the Pink Dream.

The winning bidder, who outbid three other bidders, was Isaac Wolf, a New York diamond cutter who was representing an anonymous investment consortium. However, the payment did not materialise, despite Wolf’s bidding being above board. Wolf managed to back out of the sale and Sotheby’s bought back the diamond for $60 million, the price that Sotheby’s had guaranteed the original seller. Wolf’s comment was “I saw a great opportunity that I don’t think anybody in the industry realised and I took advantage of it”.

 

This magnificent unique diamond of incredible size and colour was valued at $72 million and remained in the Sotheby’s inventory. Wolf’s consortium believed that, based on current prices for fancy vivid pink diamonds of similar quality, the value is $150 million.

 

The Pink Dream/ aka Pink Star was then sold at an auction in Hong Kong for $71.2 million to Chow Tai Fook Industries on 03 April 2017.

 

Clarity

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Color

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Carat

The international unit of weight, used for measuring diamonds and gemstones. 1 carat is equal to 200 milligrams, or 0.2 grams.

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Clarity

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Color

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Cut

Nothing is more impactful on a precious stone’s brilliance than its cut. The cut refers to the angles and proportions of a diamond. Known in the industry as ‘fire’, referring to the coloured light reflected, and ‘brilliance’ for the uncoloured light. The cut of a diamond – its form and finish, its depth and width, the uniformity of the facets – determines its beauty. The skill with which a diamond is cut determines how well it reflects and refracts light. A diamond should be cut proportionally, neither very shallow not very deep, given its dimensions. A diamond’s cut is its most important characteristics and a measure of its apparent beauty.

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Certificate

A diamond certificate or grading report provides an expert opinion on the quality of the diamond and is provided by an independent gemology lab. Trained gemologists with specialized equipment measure the weight and dimensions of the diamond and assess quality characteristics such as cut, color, and clarity. Brilliant Earth diamonds are certified by the world’s leading gem grading labs including GIA, IGI, and GCAL.

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Depth

The height of a diamond, from the culet to the table referred as a Depth of the diamond . Depth % is the height of the diamond as a percentage of the girdle diameter.

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Table

Table referred as the largest facet of a gemstone, located at the top. Table % is the table width as a percentage of the girdle diameter.

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Polish

Polish refers to the smoothness of the exterior of a diamond. Polish is graded from Ideal, Excellent, Very Good, Good, Fair, or Poor. Polish grades of Good or higher have the least effect on the brilliance of the diamond and recommended by us for the finest quality jewelry.

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Symmetry

Symmetry refers to the angles to which the facets are aligned. Basically exactness of the shape of a diamond, and the symmetrical arrangement and even placement of the facets. If facets are misaligned, the diamond may poorly reflect light. Symmetry is graded from Excellent, Very Good, Good, Fair, or Poor. We recommends diamonds with Good or higher symmetry grades.

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Fluorescence

Describes the diamond’s response to ultraviolet light. In diamonds with strong or very strong fluorescence, there may be some interference with the flow of light which causes a milky or oily appearance. Canadian diamonds almost always have none to slight fluorescence.

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Measurements

Diamonds with “fancy” shapes are measured according to their length, width and depth. These diamonds will have a longer axis (the biggest measurement) and a shorter one that represents their width. The depth indicates the measurement of the diamond from the bottom to the top. The relative proportions of a diamond ultimately affect its quality and value.

Round-shaped diamonds are never perfectly round even though they may seem to be that way when you look at them. There is a tiny variation between maximum and minimum diameter, so dimensions are reflected as measurements of maximum diameter, minimum diameter and depth.

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