Posted on February 15, 2013 by

Largest diamond in Australian history found February 2012; estimated value of $10 million

Last month, a whopping 12.76 carat pink diamond was mined in Western Australia – setting a record for the country. Early forecasts predict a selling price of $10.6 million or thereabouts. The Argyle Pink Jubilee, as it’s been named, is the first of its kind for the Rio Tinto Argyle mine, which uncovered the whale of a stone and was 26 years in the making. It is a feat that indeed may never be duplicated again. The stone required a period of ten days to be cut and polished. It will eventually be on the auction block at some point this year. The Argyle mine produces over 90 percent of all naturally existing pink diamonds.

 

Graff Pink Diamond

24.78 carat emerald-cut fancy intense pink diamond ring sold for $46 million at auction in November 2010 to Laurence Graff Photo Source: Sotheby’s

In similar record-breaking fashion, a 24.78 carat emerald cut GIA-certified fancy intense pink diamond ring sold for a cool $46 million to London jewelry dealer Laurence Graff at a Sotheby’s Geneva auction in November 2010. It set a new record for the priciest winning bid offered on a jewelry item. The “Graff Pink,” as named by its new owner, was previously owned by a private collector. This rare breed of diamond is especially noteworthy as pink diamonds in the 20 carat range are extremely hard to come by.

 

If you want to learn more about natural fancy pink diamonds, read our expert guide.


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