In the news; $50 million for a pink diamond, are we crazy?

By Esther Ligthart on Monday, 19 November 2018, in News

The Winston Pink Legacy sold for $50.375.000 at Christie's.

The Winston Pink Legacy has been acquired by Harry Winston for $50.000.000,- A record-breaking price for a diamond, once again. Why are we so fond of diamonds and records? And are we crazy to spend this much on a stone?

In the news Winston PinkLegacy Diamond

Harry Winston placed the winning bid on the 'pink legacy' diamond

Another record shattered and we all like to read about it. It’s a funny thing: these records and these giant gemstones. Harry Winston placed the winning bid and with that, the stone has not just found a new owner but also a new name. The Winston Pink Legacy. (previously: the Pink Legacy). For those who like to step back a moment, it’s auction sales like these, that make us wonder why. Why are we so fascinated by a giant, undoubtedly beautiful stone? A perfect stone, as some would say, but that’s, of course, according to a manmade scale.

You and I won’t be able to ever buy that stone, nor would we perhaps wish to do so. Then why do we all love to read about it, almost with that same perverted lust as we read about a celebrity scandal?

In the news Winston PinkLegacy Diamond .png2

Ethics

Perhaps because it feels a tat over the top? Slightly scandalous even? This time it’s Harry Winston buying the stone. A jeweler under the umbrella of the Swatch Group, with the famous CEO Nayla Hayek steering the course of the famous diamond jeweler. This jeweler, once known as the king of diamonds, will add the diamond to its already famous row of stunning big diamonds.

But what if a businessman buys a diamond for his daughter? Remember the Joseph Lau story? He bought the Blue Moon, a blue diamond of 12.01 carat, for about $50 million give or take and a few other enormous stones, for his then 7-year old daughter. I think we like to jump on it for the sensational twist of such a story, but Mr. Lau is, according to Forbes, worth around $17 billion. This real estate magnate has bought diamonds for a girl that still plays with dolls, but he is 66 years old and a diamond like this is an investment, like art, can be ( of course, he is a vivid art collector too ;-) )

In the news Winston PinkLegacy Diamond BlueMoon.1

Why are we so fascinated by big diamond sales?

I think for those who like a little bit of sensation, auctions of big diamonds cause always a stir, an excitement, something to have some kind of opinion about. And boy, we do like to share our opinions ;-). For others, the more philosophical minded types, it becomes an observation and an ethical question. Are we crazy to value diamonds, a stone formed by our planet millions of years ago, but nonetheless a stone, so much?

Even if I tend to look at auctions like this with some reservation, almost reluctant to see it as part of the jewelry industry, I can’t deny that we, a majority of the people, are simply fascinated by record-shattering diamonds. For all kinds of reasons.

In the news Winston PinkLegacy Diamond BlueMoon

The facts of the Winston Pink Legacy

  • The Winston Pink Legacy is sold for $50.375.000,-
  • Previous Owner: Oppenheimer Family - owned the De Beers company for many years
  • The Winston Pink Legacy weighs; 18.96 ct and is a vivid Pink diamond

Photos are all courtesy by Christie's


 

Comments (3)

  • Semi Precious Silver Stone jewelry

    Semi Precious Silver Stone jewelry

    20 November 2018 at 09:12 |
    Quite an amount!

    reply

  • Ultimate Diamond

    Ultimate Diamond

    28 November 2018 at 07:12 |
    Thanks for posting such factual article, that pink diamond is really looking so awesome. It’s beauty pulling them to buy such a amazing thing on great cost.

    reply

  • Kranichs

    Kranichs

    29 November 2018 at 08:01 |
    Hello,
    Thanks for your informative article!
    Diamond is the all-time favorite of women, especially when you talking about ring and necklaces.
    We also have some collection of good jewelry; you can watch it on our site.
    Best Regards,
    Kranichs

    reply

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