Rare 'vivid pink' diamond could break sale record

A rare, five-carat pink diamond will be sold in Hong Kong in December by Christie's, which expects the stone to hover near world record prices, thanks in part to the buying prowess of top Asian jewellery collectors.

The stone, set in a so-called "cushion-cut" ring by famed jewellers Graff Diamonds, is expected to fetch between €3.5 and €4.9 million, in reach of the current world auction record for a pink diamond - a 19.66-carat stone that sold in Geneva for €5.1 million in 1994.

While just a quarter the size of the record-holding pink gem and not quite flawless, the stone's "vivid pink" is considered near perfect and the auction house has touted it as one of the best coloured stones to appear in recent years.

"There are pink diamonds and then there are pink diamonds," said François Curiel, the international head of Christie's jewellery department. "It is extremely rare for a stone of such top quality to appear on the market with top notes in colour, cut, clarity and carat weight. This five-carat vivid pink gem combines the best of all criteria," added Mr Curiel.

While the South African-mined diamond isn't quite rated flawless given minor blemishes, Christie's said that these could be removed by minor re-polishing.

Christie's has a track-record of putting rare polished stones up for sale in Asia, given its confidence in the depth of the Asian market for the world's top gemstones and artwork.