"Pink Legacy" Diamond Sells for Record $50 Million at Auction

An “exceptionally large” pink diamond broke records at a Christie’s auction on Tuesday in Geneva.

In just about five minutes of bidding, the 18.96-carat Pink Legacy became the price-per-carat record holder when American luxury jewelry brand Harry Winston bought it for $50 million, CNN reported.

An unusually large pink diamond sold for $50 million on Tuesday. The 18.96-carat Pink Legacy diamond became the world record holder for price paid per carat for a pink diamond. https://t.co/Yvhdqnpzkk pic.twitter.com/cInVxtylWg

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“You have to acknowledge first that the Pink Legacy diamond was a very special diamond,” Christie’s international head of jewelry, Rahul Kadakia, said. “It is one of the best and finest examples of pink diamonds at this size and color and it proved it with a new world record price per carat.”

The Pink Legacy — which will be renamed the Winston Pink Legacy — is categorized as a “Fancy Vivid” diamond; a rating only 1 in 100,000 diamonds receives.