A 24-carat fancy intense pink emerald-cut diamond will be one of the highlights of Christie’s Magnificent Jewels sale in Geneva on November 10 at the Four Seasons Hotel des Bergues. Set by Bulgari as a ring in the 1950s, the diamond is estimated at $12 million-$18 million.
“The Bulgari Pink” diamond will appear at auction for the first time. According to Christie’s, it has remained in the same “distinguished European noble family” for more than 70 years.
The diamond combines the highly sought-after fancy intense pink color grade with a refined rectangular step cut, “a combination that embodies rarity and elegance,” according to Christie’s. It is classified as a Type IIa diamond, a category that accounts for fewer than 2% of all gem-quality diamonds.
Pink diamonds owe their color to a rare distortion of the crystal lattice caused by intense pressure during their formation within the Earth. The structural deformation alters the way light passes through the diamond, producing its distinctive pink hue, Christie’s said.
Christie’s said the rough diamond is believed to have been acquired in India during the 1950s by the current owner’s great-grandfather. It may have originated from the legendary Golconda mines, a network of ancient and medieval diamond fields in southern India that supplied some of the world’s most prized diamonds for more than 2,000 years.
The diamond was taken to Bulgari in Rome, where it was set into a ring. The 1950s was a pivotal period for the Italian jeweler, which was emerging as a world-class jewelry house. The decade also coincided with Rome’s rise as a center of postwar glamour, with major Hollywood productions filmed at the historic Cinecittà Studios.
“It is a rare privilege to present a masterpiece that has remained in private hands for more than 70 years,” said Max Fawcett, Christie’s global head of jewelry. “The Bulgari Pink is remarkable not only for its extraordinary size and intense color, but also for its history. It is almost certainly a diamond from the famous mines of Golconda. Pink diamonds of this caliber are among the rarest gemstones in the world. Given its extraordinary color, size and fabled history, we anticipate significant global interest from collectors.”
The same auction will offer a private collection of nearly 300 20th-century jewels, Art Deco vanity cases, and fine 18th- and 19th-century gold boxes in a dedicated live auction in Geneva, and a simultaneous online sale.
Christie’s said the collection, titled “Exceptional Jewels & Objects of Elegance: A Connoisseur’s Collection,” was assembled over four decades “with a collector’s eye and a curator’s sensibility.” It includes pieces from several important jewelry houses, including Van Cleef & Arpels, Graff, Bulgari and David Morris.
The top lots in the collection include a 14.63-carat fancy orangy-pink diamond ring by David Morris, estimated at $1.6 million-$2.6 million, and a pair of cushion-shaped emerald and diamond earrings by Graff, each featuring an emerald weighing more than 17 carats. The earrings are estimated at $900,000-$1.5 million.
Christie’s expects the private collection alone to fetch more than $25 million.
Other highlights include eight mystery-set pieces by Van Cleef & Arpels, led by a ruby and diamond Oiseau Mystérieux brooch estimated at $600,000-$1 million.
This article was originally published on Forbes.com