A $10.9 million pink diamond stole the show at Sotheby’s gem auction in Geneva

Sotheby’s struck the hammer on an unidentified bidder who swept an emerald-cut ‘fancy intense pink’ diamond the size of a SIM card for $10.9 million at its biannual jewel auction in Geneva. This was a privately-owned diamond and had been in the market for more than 30 years. Auctioneers expected around $16.8 million. The event had 491 exclusive items. The stone weighed 10.99 carats and is mounted on a platinum ring. The auction also had a record sale when an emerald and diamond tiara sold for 12,825,575, a far cry from the estimated 4.6 million francs and 9.2 million francs. The sale for the day, which sold off 90 percent of the lots, was totaled 78.9 million francs, including fees.

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