Damtshaa’s Eternal Pink auctions for over P460 M in New York

  • Was recovered at Debswanaโ€™s Damtshaa mine in 2019 at raw weight of 23.78 carat
  • Cut into 10.57 carat by Diacore

๐‘ฉ๐’–๐’”๐’Š๐’๐’†๐’”๐’” ๐‘ผ๐’‘๐’…๐’‚๐’•๐’†๐’” | ๐‘ซ๐’Š๐’‚๐’Ž๐’๐’๐’… ๐‘ป๐’“๐’‚๐’…๐’Š๐’๐’ˆ

๐—ก๐—ฒ๐˜„ ๐—ฌ๐—ผ๐—ฟ๐—ธ, ๐—จ๐—ป๐—ถ๐˜๐—ฒ๐—ฑ ๐—ฆ๐˜๐—ฎ๐˜๐—ฒ๐˜€ | On 8th June 2023 De Beersโ€™s Eternal Pinkโ€“a 10.57 carat diamond of astonishing pink colour and clarity originating from Debswanaโ€™s Damtshaa Mine was auctioned in New York fetching a premium price in 2 minutes.

The Eternal Pink was presented at Sothebyโ€™s Magnificent Jewels auction in New York, United States. Established in 1744, Sothebyโ€™s is the worldโ€™s largest, most trusted and dynamic marketplace for art and luxury.

The 10.57ct cushion-cut internally flawless fancy vivid purplish-pink diamond achieved a record-breaking value of $34.8 Million (over P460 million), at a staggering $3.3 million per carat.

De Beers said in a statement on Thursday that with unparalleled colour and impeccable clarity, the Eternal Pink is a โ€œtestament to our dedication to seek out the most extraordinary masterpieces of nature. Our unique connection to the source not only gives us access to the worldโ€™s most beautiful diamonds, but also ensures their traceability and positive impact through our Building Forever sustainability frameworkโ€.

The raw 23.78-carat diamond was mined by De Beers at the Damtshaa mine in Botswana in 2019, and was cut and polished by diamond company Diacoreโ€™s team over a period of six months. Itโ€™s the most vivid pink diamond ever to come to market, Sothebyโ€™s said.

“Its refined lines combined with the intensity of its color earn it a place as one of the world’s most extraordinary gems,” Tom Moses, executive vice president and chief laboratory and research officer at the Gemological Institute of America said of the cushion-cut diamond.

According to Sotheby’s, the stone is “comparable to ultimate masterpieces of art – far rarer than a Magritte or a Warhol,” thanks to its clarity and lack of imperfections.

Pink diamonds are among the rarest and most sought-after gems in the world and considered a major draw for investors.

The Eternal Pink at 10.57 carats, the cushion-cut Internally Flawless Fancy Vivid Purplish Pink Diamond is the most vivid pink diamond ever to come to market according the centuries old luxury auctioneer.

The 23.78 carat rough which yielded The Eternal Pink was meticulously fashioned into an exquisite cushion cut by Diacoreโ€™s team of artisans, maximizing the diamondโ€™s electric โ€œbubblegumโ€ color to full potential.

According to Sotheby, of all the existing grades of color, โ€œFancy Vividโ€, as manifested by this beautiful 10.57-carat stone, is the highest possible for a colored diamond.

Currently under care and maintenance, Damtshaa โ€“water for tortoise in native meaning is located in an area 20km east of the Orapa Kimberlite pipe. Damtshaa Mine is managed, along with Letlhakane Mine, from the Orapa operation.

Debswana paused mining at Damtshaa mine for an indefinite period, citing a lack of financial viability given market conditions which resulted in marginal cash flow produced by the mine being outweighed by operational costs.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts