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juliet pink diamond

'Pink Star' diamond sells for record $71.2 million at auction

The "Pink Star" weighs 59.60-carats, and is the most valuable polished diamond ever offered at auction. Image courtesy of CNN, Sotheby’s

The "Pink Star" weighs 59.60-carats, and is the most valuable polished diamond ever offered at auction. Image courtesy of CNN, Sotheby’s

Courtesy of CNN

It took nearly two years to cut the Pink Star from a rough diamond. It first appeared in public in 2003 and later became part of an exhibit at the Smithsonian National Museum of Natural History, home of the famous 45.52 carat blue Hope Diamond. It was also displayed at the Natural History Museum in London.

Tuesday's winning bid surpassed the previous world auction record for a pink diamond -- $46.16 million for the 24.78 carat Graff Pink, sold at Sotheby's in Geneva in 2010.

Chow Tai Fook has renamed its new possession the CTF Pink Star in memory of the company's founder and to commemorate the brand's 88th anniversary.

Why 2016 was the year of the colored diamond

By Nick Glass, CNN

Updated 5:27 AM ET, Tue December 20, 2016

(CNN) Relatively small, but slowly and perfectly formed over billions of years, the Argyle Violet diamond is so rare in color that it has its own unique diamond classification: "Fancy Deep Grayish Blueish Violet."

It was "a once in a lifetime discovery. I fell in love with it. We had to have it," says Scott West of L.J. West Diamonds Inc. of New York.

Like his father, Larry, and his grandfather Max before him, West is a diamond hunter, searching for the rarest and most unusually colored stones.

His most recent acquisition, the 2.83-carat oval Argyle Violet is being displayed as part of "Diamonds: Rare Brilliance" at the Natural History Museum of Los Angeles County.

An exclusive offer

Scott West spends three months every year traveling the world looking for special stones.

The Argyle Violet came from the remote Argyle Mine in North West Australia. Every year for the last 30 years, the mine's owner, Rio Tinto, has invited a select group of buyers to tender for newly discovered stones by sealed bid. It's said to be the most exclusive diamond sale in the world.

This year, there were 63 diamonds on offer, all pink, red or violet.

West says he and his father, Larry, first saw the Argyle Violet in a secure room in Hong Kong in September, and made "multi visits in differing light" before placing their bid in November.

He declined to comment on a Financial Times report that L.J.West's winning bid was more than $10 million for the Argyle Violet and 15 other colored stones, although he did agree that it was "tough" having to make a sealed bid.

The allure of the sparkle

L.J. West claims to have the largest inventory of large colored diamonds in the world with some 2000 stones of all colors, many of them pink.

But, naturally, West remains discreet about money and collectors. Though the company did admit that Halle Berry wore one of their diamond rings (the Pumpkin Diamond, Fancy Vivid Orange, 5.54 carats) when she won her Oscar in 2002.

"The Middle East is a strong market. China continues to grow. The United States is still the strongest market of all," he says.

Article courtesy of CNN

Spectacular Colored Diamonds On Exhibit At Los Angeles County Natural History Museum

Dec 15, 2016 @ 12:37 PM

By Anthony Demarco - Forbes

The Juliet Pink on display at Diamonds: Rare Brilliance at the Natural History Museum of Los Angeles

The Juliet Pink on display at Diamonds: Rare Brilliance at the Natural History Museum of Los Angeles

Natural History Museum of Los Angeles County is bringing together rare colored gems never before seen in the United States inside the museum’s Gem and Mineral Hall in an exhibition titled “Diamonds: Rare Brilliance.”

At the exhibition’s center is the “Juliet Pink Diamond,” an extremely rare pink diamond of more than 30 carats, and a Fancy Deep Grayish Bluish Violet named the “Argyle Violet Diamond,” after the Argyle mine in Western Australia where it was discovered in 2015. Through examples, such as the fluorescent lighting of a “Rainbow” diamond necklace and a very rare Victorian Orchid Diamond, the exhibition will attempt to bring to light the rare properties of colored gemstones, the science behind natural colored diamonds, and how the interplay of light and chemistry gives diamonds color.

The Argyle Violet Diamond set in a beautiful platinum diamond setting surrounded by 12 rare vivid pink diamonds. On display at the Natural History Museum of Los Angeles

The Argyle Violet Diamond set in a beautiful platinum diamond setting surrounded by 12 rare vivid pink diamonds. On display at the Natural History Museum of Los Angeles

The Diamonds: Rare Brilliance exhibition will open Friday and run through March 19, 2017. The colored gems and jewels in the exhibition are owned by L.J. West Diamonds, which specializes in the sourcing, manufacturing and distribution of colored diamonds. 

The exhibition coincides with the reopening of NHMLA’s Gem and Mineral Store.

Article courtesy of Forbes