Headlines

‘Sakura’ Diamond Sells for Record $29M

It’s ‘the largest purple pink flawless diamond ever sold at auction.’

Published

3 years ago

May 25, 2021

INSTORE Staff

The Sakura became the largest purple pink flawless diamond ever sold at auction.

HONG KONG – A gem called The Sakura sold for a record $29.3 million at the Christie’s Magnificent Jewels auction in Hong Kong.

The stone became “the largest purple pink flawless diamond ever sold at auction,” according to a Christie’s press release. The Sakura is named for the Japanese word for cherry blossom.

The piece was purchased by a private Asian buyer, according to reports.

The May 23 auction totaled $76.8 million. Another notable pink diamond in the sale – The Sweet Heart, a fancy vivid pink diamond ring of 4.19 Carats, sold for nearly $6.6 million.

“We are very excited to have marked another important chapter in jewellery auction history today, with The Sakura realising a record-breaking price of US$29.3 million, continuing Christie’s tradition of offering the finest pink diamonds at auction,” said Vickie Sek, chairman, department of jewelry, Christie’s Asia Pacific.

“The strong sell-through rates and exceptional prices achieved for top quality coloured diamonds and gemstones reflect a robust market demand, and we look forward to extending this strong buying momentum to our upcoming live auction in New York on 8 June.”

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”