Dh167,000,000
The Graff Pink has been described as "one of the greatest diamonds ever discovered". So named by its owner, Lawrence Graff when he bought it two years ago, the price was the highest ever paid at auction for a single jewel. But why is it so special?
Rarity. Natural pink diamonds are the most desirable gems that exist, but this has an exceptional, vivid colour thought to have been caused by an unusual light absorption when it was formed deep inside the earth over millions of years.
Purity. Among less than two per cent of the world's diamonds in terms of quality, the stone was confirmed by the Gemological Institute of America as "internally flawless".
Size. At 24.7 carats, its weight is exeptional for a pink diamond. Very few ever exceed 5 carats. It is also emerald-cut - very rare for a blue or pink stone - which highlights its perfection.
Provenance. Previously owned by legendary Hollywood jeweller Harry Winston, prior to its sale the diamond had been hidden away in a private collection, unseen on the open market for 60 years.
The market. Lack of confidence in the stock market has driven up the value of precious jewels. The growth in numbers of buyers, particularly in India, is also a factor in rising prices.
