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A rare, 5-carat ‘vivid pink’ diamond was auctioned off for a record £6.5 million at Christies in Hong Kong last week.

The sale made by an unidentified Asian buyer beat the previous record, set 15 years ago in Geneva for a 19.66-carat stone at £4.4 million.

Graff Diamond jewellers set the chickpea-sized stone (a quarter of the size of the Geneva stone) in a ‘cushion-cut’ ring. Francois Curiel, Christie’s Europe chairman described it as a “fabulous pink diamond, probably one of the rarest stones I’ve ever seen.”

The diamond’s pre-sale estimate was between five and seven million dollars. The pink gem’s per-carat price of £1.3 million was also the highest ever paid for any diamond at auction, according to Christie’s.

£1.2 million a carat for pink coloured diamond

“No stone has ever been sold for £1.2 million a carat, we were used to £600,000 a carat for coloured diamonds but never £1.2 million,” said Curiel. “This is an absolute record that is not going to be broken for a while I believe.”

The South African-mined diamond has minor blemishes, which the auction house says can be removed by minor re-polishing. The bid beat a £6.3 million bid for a seven-carat blue diamond in Geneva this year.

“This definitely went above its high estimate, but that is what the market thought it was worth,” a Christie’s spokeswoman told AFP. “We think this will probably hold for quite some time — it’s a very strong price.”

She added Asian jewellery buyers have become “an extremely important group” for the auction house. “They are very active, very sophisticated and they’re buying at the very high end.”

On the block during upcoming sales in Hong Kong is a rare pink diamond the auction house estimates could fetch up to $8 million.

“Vivid Pink,” as it’s called, is a five-carat stone flanked by two white diamonds and set in a ring by elite jeweler Graff. It hails from a private collection.

The glamorous rock toured Singapore, Bangkok, Geneva and Taipei before returning to Hong Kong, where it will be auctioned off Dec. 1 at the Convention and Exhibition Center alongside 250 other gemstones and pieces of jewelry from the likes of Cartier and Van Cleef and Arpels. Altogether, the jewelry sale’s lots are estimated to be worth more than $33 million.

The brilliant pink stone earned top marks from the Gemological Institute of America, which rates diamonds. The gem is unique because of its particular hue–a rich bubblegum rather than a more common lighter rose. It is also valuable because of its saturation, the depth the color extends into the stone.

“Stones like this–they’re not just jewelry, they’re artwork,” says Alan Bronstein, a New York-based trader and dealer of rare colored diamonds. “The simplest possible mounting is the best way to make that diamond shine. You don’t want to embellish it with motifs and designs.”

Colored diamonds mined naturally are often pockmarked with flecks of other hues, like purple, orange or gray. But this one is blemish-free, boasting an even tone throughout. Only one in 100,000 diamonds is as special.

Hong Kong–Christie’s anniversary Fall Bargain of Arresting Jewels will affection added than 250 gemstones and pieces of adornment admired in balance of $33 million.

Taking abode on Dec. 1 at the Hong Kong Convention and Exhibition Centre, the bargain will be a advertise of important diamonds, accomplished black gemstones, top jadeite jewels and active creations from the brand of Bulgari, Cartier, Graff, Van Cleef and Arpels and Wallace Chan.

The bargain will aswell cover four arresting jewels from an admired clandestine collection, including “The Vivid Pink,” a 5-carat adorned vivid-pink design with potentially absolute accuracy set in a ring by Graff. It is estimated to back amid $5 actor and $7 million.

The accumulating aswell includes a added ring set by Graff, this one featuring a 9.03-carat oval-shaped adorned vivid-yellow design with VVS1 clarity, estimated amid $900,000 and $1.2 million.

The actual two items from the clandestine collection, a 16.65-carat cushion-shaped Kashmir azure ring by Van Cleef and Arpels, and “The Cartier Design Love Cuff,” a custom, one-of-a-kind conception brindled with high-quality diamonds, are estimated amid $700,000 and $1 million, and $250,000 to $350,000, respectively.

Additional precious stones from the Arresting Jewels bargain cover an unmounted, 16.99-carat brilliant-cut Type IIa design with D blush and absolute accuracy ($2.2 million-$3.2 million), as able-bodied as an 11-carat pear-shaped Type IIa design with D blush and absolute accuracy set into a chaplet chaplet ($800,000-$1.2 million).

Aside from The Vivid Pink, admirers of black precious stones will acquisition a rare, rectangular-cut adorned intense-blue design belief in at 3.02 carats ($940,000-$1.28 million), a 0.84-carat rectangular-shaped adorned red design ($250,000-$375,000), and a brace of 8.52-carat and 8.39-carat pear-shaped adorned chicken internally absolute design ear pendants ($400,000-$600,000).

In agreement of black gemstones, bargain highlights cover a 25.04-carat pear-shaped Burmese azure and design chaplet chaplet ($600,000-$800,000), an emerald and design chaplet from Bulgari ($80,000-$120,000) and a bittersweet and design Art Deco armlet by Cartier ($625,000-$1 million).

Christie’s said in a media absolution that accustomed chaplet and jadeite are a part of added able draws for collectors in Asia. The Arresting Jewels bargain will affection a brace of design and natural-pearl ear pendants from Chaumet ($230,000-$350,000), a multicolored, accelerating natural-pearl chaplet ($150,000-$230,000) and a attenuate brace of natural-pearl and design ear clips from Cartier ($160,000-$230,000).

The standouts a part of the jadeite pieces are a carved jadeite Guanyin, estimated amid $1 actor and $1.5 million, and a carved jadeite amount of Metteyya Buddha, frequently referred to as the “Laughing Buddha,” estimated amid $750,000 and $1 million.