The Spirit of the Rose, a 14.83-carat diamond of very vivid color and exceptional clarity, soared for 24.4 million Swiss francs ($26.8 million), taking the world record for the most expensive pink-purple diamond sold at auction. The stone was presented at Sotheby's in Geneva on November 11 with an estimate between CHF 21,050,000 to 34,775,000 ($23-38 million).
Named after the Russian ballet Le Spectre de la Rose, written by Jean-Louis Vaudoyer, the Spirit of the Rose was carved from a rough stone discovered in 2017 in a mine in Sakha, northeastern Russia. It represents the largest diamond ever discovered in the country.
The origin of pink diamonds’ color is still obscure to scientists. It is believed that its hue is due to constraints imposed on its atomic structure during crystal formation. The extreme temperature and pressure conditions of its environment induce plastic deformations in the carbon crystal, causing the absorption of certain wavelengths, and therefore influencing the color of the light transmitted by the diamond.
See also: Barnebys’ Guide to Diamonds
According to the non-profit organization Fancy Color Research Foundation, the value of pink diamonds is increasing faster than that of diamonds of any other color: prices have increased by 116% between 2010 and 2019. This inflation is believed to be due to the depletion of the Argyle mine in Australia, where 90% of the world's pink diamonds have been mined. The only constant source of pink diamonds in the world since the 1980s, it has dried up in recent years, limiting the circulation of stones and increasing their value.
The Spirit of the Rose was due to be presented in November 2019, but Sotheby's decided to coincide the sale with the closure of the Argyle mine. Perhaps to emphasize that rose-purple diamonds are becoming scarce, and in view of its size, the Russian diamond was one of the most valuable to appear on the market in a long time.
