Rare pink diamond valued at $35 million set for auction

An exceptionally rare, fabulously purple-pink diamond goes on Sotheby's auction block as part of its Magnificent Jewels sale in New York in June.

Dubbed the "Eternal Pink", the “electric bubblegum” 10.57-carat cushion-cut stone is valued at $35 million, with the highest ever pre-auction price per carat estimate, according to Sotheby's.

"Its refined lines combined with the intensity of its colour 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 Gemmological Institute of America said.

The diamond, named The Eternal Pink, will be featured in Sotheby's Magnificent Jewels auction on June 8 and is expected to achieve in excess of $35 million. AP

The 10.57 carat rock will go on show in Hong Kong next week and later will be exhibited in Dubai, Singapore, Shanghai, Taiwan and Geneva. AP

It has the top score for clarity, known as 'Internally Flawless', meaning that no blemishes are visible under 10x magnification. AP

It’s among the most chemically pure of all diamonds, which contributes to its transparency. AP

The Eternal Pink was mined by De Beers at the Damtshaa mine in Botswana. AFP

It took six months for artisans at Diacore in New York to fashion it. AFP

According to Sotheby's, the stone was cut by De Beers from a 23.78 carat rough mined in Botswana.

“This gemstone boasts an attractive combination of facets that enhances the pink to be ‘sweeter’ to one’s eyes. The present stone, combining Fancy Vivid Purplish Pink colour and Internally Flawless clarity, is indeed a treasure of nature,” Sotheby’s said.

A major draw for collectors and investors alike, pink diamonds are the scarcest and most desirable gems in the world.

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Sotheby’s said the Eternal Pink is "comparable to ultimate masterpieces of art — far rarer than a Magritte or a Warhol", due to its clarity and lack of imperfections.

The rock show hits the road before going on the block and can be seen in Hong Kong next week and later will be exhibited in Dubai, Singapore, Shanghai, Taiwan and Geneva.

The record for the highest-ever auction price for such a stone is held by the CTF Pink Star, which sold for $71.2 million in Hong Kong in 2017.

The Williamson Pink Star diamond, which sold for $57.7 million last year, also in Hong Kong, holds the record for the highest price per carat, at nearly $5.2 million.

AFP contributed to this report

QUARTER-FINAL

Wales 20-19 France

Wales: T: Wainwright, Moriarty. Cons: Biggar (2) Pens: Biggar 2

France: T: Vahaamahina, Ollivon, Vakatawa Cons: Ntamack (2)

Other key dates

Finals draw: December 2
Finals (including semi-finals and third-placed game): June 5–9, 2019
Euro 2020 play-off draw: November 22, 2019
Euro 2020 play-offs: March 26–31, 2020

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Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

McLaren GT specs

Engine: 4-litre twin-turbo V8

Transmission: seven-speed

Power: 620bhp

Torque: 630Nm

Price: Dh875,000

On sale: now

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.

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LIGUE 1 FIXTURES

All times UAE ( 4 GMT)

Friday
Nice v Angers (9pm)
Lille v Monaco (10.45pm)

Saturday
Montpellier v Paris Saint-Germain (7pm)
Bordeaux v Guingamp (10pm)
Caen v Amiens (10pm)
Lyon v Dijon (10pm)
Metz v Troyes (10pm)

Sunday
Saint-Etienne v Rennes (5pm)
Strasbourg v Nantes (7pm)
Marseille v Toulouse (11pm)

The figures behind the event

1) More than 300 in-house cleaning crew

2) 165 staff assigned to sanitise public areas throughout the show

3) 1,000 social distancing stickers

4) 809 hand sanitiser dispensers placed throughout the venue

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Discounts on sales price of off-plan units
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