This Pink Diamond Just Set New Records With Its $26.6M Price Tag

Mandatory Credit: Photo by SALVATORE DI NOLFI/EPA-EFE/Shutterstock (11005295e)A Sotheby's employee poses with 'The Spirit of the Rose' vivid purple-pink diamond weighing 14.
SALVATORE DI NOLFI/EPA-EFE/Shutterstock / SALVATORE DI NOLFI/EPA-EFE/Shutterstock

Diamonds may be a girl’s best friend, but they’re certainly not your wallet’s — especially if it’s the 14.83-carat diamond that just sold for $26.6 million at a Sotheby’s auction. The rare gem, known as “The Spirit of the Rose,” set a new record price for a fancy vivid purple-pink diamond sold at auction, Reuters reported. It’s also the largest pink diamond with that color grading to ever be auctioned off.

While $26.6 million is a hefty price tag, it actually might turn out to be a good investment for the anonymous buyer, who placed the winning bid via phone.

“The lucky buyer could well profit from prices soaring for pink diamonds in the coming years thanks to increased rarity,” Tobias Kormind, managing director of 77 Diamonds, told Reuters in a statement.

The diamond was one of three stones auctioned off from a collection by Russian mining company Alrosa, BBC News reported. The three stones were all cut from a rough diamond called Nijinsky, in honor of the Russian-Polish ballet dancer and choreographer, and the three diamonds were named after ballets.

Although “The Spirit of Rose” is the priciest pink-purple diamond ever sold, it’s a bargain compared to the priciest pink diamond ever sold — that title belongs to the CTF Pink Star, a 59-carat stone that sold for $71 million at a Sotheby’s auction in Hong Kong in April 2017.

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Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Before joining the team, she was a staff writer-reporter for People Magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she has been featured on “Good Morning America” as a celebrity news expert.