Fancy purplish-red is the official color grade of the 0.82-carat diamond that is slated to be the first red diamond ever offered for public auction in Australia. The April 12th auction is also the first standalone jewelry sale for Sotheby’s Australia branch.
The 0.82-carat, fancy purplish-red Argyle diamond is set into a ring and is flanked by a pair of fancy blue diamonds in a round brilliant-cut diamond surround, all mounted in platinum. Its value is estimated at between 700,000 and 1 million Australian dollars (between about $645,065 and $921,556) and will be accompanied by a letter from Argyle Diamonds attesting to its rarity. The Argyle diamond deposits have produced many notable pink diamonds but less than a handful of red diamonds have been discovered. Connoisseurs have long considered red diamonds to be among the most precious and rare of diamonds.
via National Jeweler
