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Pink Diamond from Russia may Become One of the Most Expensive in the World
August 20, 2019 11:04

This year, Alrosa may sell the Phantom of the Rose diamond for a close to a record price of $ 60-65 million, Bloomberg writes. The company itself indicates that it will become the most expensive diamond ever mined and cut in Russia.

The 14.83-carat pink diamond mined and cut by Alrosa will be one of the most expensive gems ever sold, Bloomberg writes.

The 27.85 carat diamond was extracted by Alrosa in 2017 in one of its alluvial mines in the Far East. It received the name "Nizhinsky" in honor of the ballerun Vaclav Nizhinsky. The name of the diamond - “The Phantom of the Rose” - was chosen in honor of the ballet with participation of Nizhinsky, set by the Russian Seasons.

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Colored diamonds formed under the influence of boron or nitrogen are the rarest, and pink or red stones are usually the most expensive, Eden Rakhminov, head of the board of directors of the Fancy Color Research Foundation, explains. He estimated the cost of the stone at $ 60-65 million.
Alrosa plans to sell the diamond in November, and the decision on details of the sale will be made next month, company representative Yevgenia Kozenko told Bloomberg. The gem will be the most expensive ever mined and cut in Russia.
The most expensive gemstone ever sold was auctioned off at Sotheby's for $ 71 million in 2017. The 59.6-carat Pink Star diamond was sold to the Hong Kong Chow Tai Fook Jewelery Group. The stone was obtained by the international corporation De Beers. Prior to that, Oppenheimer Blue diamond, sold at Christie's auction for $ 58 million, was the world leader.

It’s  a good time to sell a diamond now, Bloomberg writes. Pink stones will become even rarer due to the fact that the Australian-British concern Rio Tinto Group  closed the Argyll mine in Australia - the main source of pink and red diamonds.

Author: Anna Dorozhkina

Tags: Russian business Russian companies    

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