‘Sakura’ Diamond Sells for Record $29M

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.”