![]() ![]() Now as to who the stone’s lucky purchaser might be: Hong Kong tycoon Joseph Lau is known to buy record-setting colored diamonds for his young daughters, typically naming the stones after them. It’s also no coincidence that the sale is marked for Asia, instead of Geneva, where it was held in 2014. “They’ve put the threshold valuation so low, there’s no way they’re not going to achieve it,” said Kormind, who believes the stone could break past the $100 million mark. It was estimated to sell for $70 million, but couldn’t find a buyer. Similarly in April 2016, the Shirley Temple, a polished blue diamond with Hollywood credentials thought to be worth $35 million, also didn’t sell, which, according to Kormind, “prompted gasps of shock in the Sotheby’s New York sales room.” But all those issues have eased now - and an improving American economy plus a Trump presidency has the superwealthy feeling more bullish, prompting Sotheby’s to bring the pink diamond back out, although at a conservative estimate of $60 million. ![]() “White diamonds have declined a bit over the last three years, and that’s got to do with nervousness about luxury goods purchasing from, oil prices that have affected Middle East purchasing and there’s been crises in Russia.” Sotheby’s failed to move the Lesedi la Rona, a 1,109-carat rough diamond, the second-largest rough diamond to be discovered in more than a century, in London last June. “I think that the diamond market as a whole has had a couple of wobbly years,” he said. ![]()
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