A remarkable piece of royal history captivated the global jewellery market this week. The 10.38-carat “Marie-Thérèse Pink Diamond” achieved more than USD $13.9 million (including buyer’s premium) at Christie’s New York Magnificent Jewels auction, nearly doubling its high estimate. The hammer price alone reached USD $11.8 million.
This fancy purple-pink, modified kite brilliant-cut diamond boasts not only exceptional rarity and colour but also a royal provenance tracing back through French, Bavarian, and Austrian imperial families. It was most recently set in a ring by renowned Franco-American jewellery artist JAR, further enhancing its artistic and collectible value.
According to Christie’s, the pink diamond is believed to have been part of a group of jewels entrusted by Marie Antoinette to her hairdresser in 1791, just before her attempted escape from Paris. These jewels were later passed to her only surviving child, Duchess Marie Thérèse de Angoulême, and subsequently to her niece, Duchess Marie Thérèse de Chambord.
“Generations later,” Christie’s noted, a will identified Queen Marie Theresa of Bavaria as the next known custodian of the gem, referring to it as “a pink solitaire diamond from Aunt Chambord.” The diamond last appeared at auction in Geneva in 1996, offered by a European royal family member, and had remained out of public view until this recent sale.
The impressive result underscores continued global demand for rare, historically significant coloured diamonds — particularly those with noble provenance.
Vibrant 0.45-carat gem adds final flourish to Diavik’s closing years. Just when it seemed Diavik had given all it could give, a rare purple diamond has been unearthed at the Northern Canadian mine – a 0.45-carat stone that stands out in a region better known for producing predominantly colorless gems and the occasional yellow stone, adding a splash of unexpected color as the operation approaches the final years of its mine life.
The discovery, quietly announced by Rio Tinto via social media, comes just weeks after the recovery of a 158.2-carat yellow diamond and a 50-million-year-old petrified log – both of which drew attention to the remarkable geological and historical treasures still surfacing from the remote subarctic site.
“We recently had a unique discovery at Diavik – a rare purple diamond weighing in at 0.45 carats,” the company wrote in a social media post on LinkedIn.
“Diavik diamonds are typically white, so this came as a pleasant surprise,” the post continued. “The purple colour likely comes from a trace element such as hydrogen or a twist in the crystal lattice structure of the diamond. The shape of the rough diamond is known as a ‘makeable’ which means it will likely be cut into a single diamond.”
Though small in size, the stone is striking for its rarity, with colored diamonds of any kind making up less than 1% of Diavik’s total production over more than two decades of operation.
Among them, purple diamonds are the rarest, their distinctive hue typically attributed to hydrogen impurities or plastic deformation deep in the Earth’s mantle – a result of the intense pressure and heat that alters the crystal structure during formation.
In gemological terms, purple diamonds are often classified under the broader category of “fancy color” stones, though few attain the deep saturation necessary for that label. More often, their shades fall within the purplish-pink or violet spectrum, with pure purple standing as one of the most elusive colors in the diamond world.
For Diavik, the recovery of such a specimen near the end of its mine life serves as both a scientific curiosity and a symbolic capstone.
Since beginning production in 2003, the mine has yielded over 140 million carats of rough diamonds – predominantly colorless, with a handful of exceptional yellow stones including the 552-carat “egg” discovered in 2018 and the more recent 158.2-carat find earlier this year.
Yet, while the occasional yellow diamond has offered moments of brilliance, the purple discovery stands out for its singularity.
While not the first purple diamond recovered from Diavik – industry veterans have noted smaller specimens dating back more than a decade – this 0.45-carat stone ranks among the most notable, particularly for its size, clarity, and timing near the end of the mine’s operational life.
Purple diamonds are so rare that only a few notable examples have surfaced globally, often fetching premium prices far beyond their white or even pink counterparts. Their appearance in the trade is sporadic, and their origin even more geographically restricted – making a Canadian purple diamond an especially uncommon occurrence.
Diavik’s purple gem is expected to be cut into a single polished stone, though no details have been released about where it might end up – in private hands, a high-profile auction, or perhaps a Canadian institution.
Whatever its path, the find adds a final chapter to Diavik’s legacy – a small but vibrant reminder that even in its twilight, the remote Arctic mine remains full of surprises.
A 647-carat diamond recovered in Brazil is the country’s second biggest and has been valued at just over $3m.
The brown-colored gem was unearthed late last month in the Douradinho river bed, home to mining companies and artisanal miners (known locally as garimpeiros) in the rural area of Coromandel, in the southeast of the country.
Large diamond finds are rare in modern Brazil and generate significant local excitement and economic activity, especially in towns with a mining tradition like Coromandel.
“Everyone was euphoric because Coromandel has a lot of mining activity,” said a spokesman for the Coromandel municipality. “It has been a long time since a diamond of this size was discovered.”
The record for Brazil’s largest diamond is still held by the 726.6-carat President Vargas diamond, discovered in the same region back in 1938.
Brazil was the world’s top producer of diamonds from 1730 to 1870, but is now responsible for less than 1 per cent of global production, mostly from alluvial deposits.
According to the Brazilian news website Click Petroleo e Gas, the gem has already been sold.
A unique Patek Philippe watch sold for $4.3m at Sotheby’s New York – the highest price realized by the auction house for a timepiece this year.
But it was well below the $7.75m achieved by the same watch when it changed hands at Sotheby’s Hong Kong.
The pink gold perpetual calendar chronograph wristwatch with moon phases, was made in 1957 and was sold by the Milan-based retailer Gobbi Milano.
It was one of just nine made and is the only one known to still exist.
A private collector paid $4.3m for the watch, which had a pre-sale estimate of $3m to $5m. It led the Important Watches: Take a Minute sale last Tuesday (10 June).
In 2007 the watch sold for CHF 2.7m ($2,.2m at historic exchange rate) at Christie’s Geneva.
Alrosa has concluded the sale of its 41 per cent share in Catoca, Angola’s state-controlled diamond miner, drawing an end to a 32-year partnership.
It has been acquired by Taadeen, a subsidiary of Oman’s sovereign wealth fund.
The move was announced last November, after Angola’s mineral resources minister Diamantino Azevedo described Alrosa, the sanctioned Russian miner, as a “toxic partner”.
The transfer was formalized on 26 May and leaves Angola’s national diamond company Endiama EP retaining a controlling 59 per cent.
Catoca’s updated website now lists its company shareholder structure as: “Endiama EP (National Diamond Company of Angola) – 59% Taadeen (Subsidiary company of the Sovereign Wealth Fund of Oman) – 41%”.
No financial details of the share transfer have been released.
Alrosa acquired 32.8 per cent of Catoca shares in 1992, soon after the country’s long-running civil war came to an end, and increased its stake to 41 per cent in 2018.
Karelian Diamond Resources has registered its Lahtojoki mining concession in the Finnish land registry, advancing its plan to develop what could become the European Union’s first diamond mine.
This registration, handled by the Finnish mining authority TUKES, allows the company to proceed with further development plans for the Lahtojoki diamond deposit.
TUKES had previously approved the concession and is also responsible for issuing the mining certificate.
Karelian noted that a hearing on compensation matters related to the project has been postponed until the Fall of 2025, potentially impacting the timeline for full-scale operations.
Lahtojoki is known for its high-quality gem diamonds, including rare pink and coloured stones that can fetch up to 20 times more than typical colourless gems. The company believes the diamondiferous kimberlite pipe has the potential to support a profitable, low strip ratio open-pit operation.
The Dublin-based company is simultaneously exploring and advancing other assets in Finland, containing nickel, copper and platinum group elements. It is also advancing exploration at a site in the Kuhmo region where it aims to discover the source of a rare green diamond it found in 2022.
Africa-focused Petra Diamonds has scrapped regular diamond tenders in favour of opportunistic sales as the market for rough stones continues to slump.
The miner reported $53 million in sales from its fifth and sixth tenders of the year, covering production from its two South African mines. Petra will now report sales on a quarterly basis instead of following a fixed tender schedule.
“In response to fluctuations in diamond prices and demand, the company no longer follows regular tender cycles and may postpone portions of tenders or sell goods as run-of-mine,” the company said.
The strategic pivot mirrors De Beers’ reported off-market sales of discounted diamonds to selected clients. The move aimed to reduce inventory without officially slashing prices.
Petra said it sold 613,747 carats in the two tenders, a 29% increase from its fourth tender in February. The average price was $86 per carat, about 4% higher than February’s auction. On a like-for-like basis, prices were down 16% compared to the first six tenders of 2024, largely due to lower-value goods.
Year-to-date, the company has sold 2.39 million carats for $239 million, down from $329 million over the six first tenders of its 2024 financial year.
Petra delayed its April and May tenders due to a weaker product mix at its flagship Cullinan mine. The Finsch mine, meanwhile, saw improved pricing thanks to better ore access. The company expects an improved product mix as it ramps up production from the CC1E and the western side of the C-Cut block.
Petra also drew an additional $33 million in debt, bringing its consolidated net debt to $258 million by the end of March. It attributed this to working capital requirements.
“The continuing challenges in the diamond market and the weaker sales do not bode well given the ongoing negotiations to refinance Petra’s debt obligations,” Raj Ray, an analyst at BMO Capital Markets, wrote on Monday.
Petra has been restructuring to cut costs, including the sale of its stake in Koffiefontein in October and the recent $16 million sale of the Williamson mine in Tanzania.
Petra shares fell almost 3.5% on the news to 19.5 pence each, putting its market cap at about £38 million ($51 million).
A limited relief package has been announced for diamond workers and small manufacturing units in Surat.
The Gujarat state government is responding to widespread job losses and economic hardship among the estimated one million diamond workers in Surat as the global slowdown persists.
The relief package, as detailed by chief minister Bhupendra Patel, will cover school fees for children of jobless diamond artisans in full, subject to certain conditions.
Small diamond manufacturing businesses will be eligible for low-interest loans and a one-year year exemption from the duty charged on their electricity bills.
The move has been given a cautious welcome by the Diamond Worker Union Gujurat, but there are ongoing calls for more comprehensive support, particularly for unregistered workers and families affected by the crisis, as well as for families of diamond workers who have taken their own lives.
The Diamond Certification Laboratory of Australia (DCLA) reaffirms its commitment to providing precise and comprehensive grading for all diamonds, including laboratory-grown stones. This approach ensures consistency, transparency, and informed decision-making across the industry.
While the GIA has announced it will introduce a simplified classification system for lab-grown diamonds — using the categories “Premium” and “Standard” — the DCLA will maintain its tradition of detailed grading across the full range of quality characteristics. This includes reporting actual colour, clarity, cut, and carat weight for every diamond submitted, regardless of its origin.
The GIA’s new system, expected later this year, will group lab-grown diamonds based on overall appearance and finish, with certificates including carat and cut details but without specific colour and clarity grades.
DCLA recognises that both natural and laboratory-grown diamonds hold unique value and significance. By continuing to offer full grading reports, the DCLA supports both the trade and consumers in understanding and appreciating the distinct qualities of each stone.
At DCLA, we believe that consumers and the trade deserve full and detailed grading information, regardless of the diamond’s origin. Misrepresentation and confusion are more likely to arise when simplified or vague grading systems are used — especially as laboratory-grown diamonds become more prevalent in the market.
As Australia’s official CIBJO laboratory, DCLA remains dedicated to upholding the highest international standards in diamond certification and grading.
Sotheby’s New York is set to host an extraordinary High Jewellery auction on 13 June, featuring 110 remarkable lots — many of them centred around colourless and fancy coloured diamonds. This exclusive sale not only showcases some of the most important stones on the market today but also brings to light jewellery with historic provenance, including pieces from the Vanderbilt and Wade families, and a private collection chronicling a decades-long romance.
The Crown Jewel: 35.01ct Graff Diamond Ring Leading the sale is a breathtaking 35.01-carat emerald-cut diamond ring from luxury jeweller Graff. This D-colour, VVS2 clarity diamond is described as “highly important,” and is expected to fetch between USD $2 million and $3 million (approximately AUD $3 million to $4.5 million). It’s one of 13 spectacular jewels from a private collection titled Joie de Vivre: Journey in Jewels — a tribute to a husband’s enduring love, with each piece gifted to his wife throughout a 60-year marriage.
Another standout from the same collection is a pair of emerald and diamond earclips by Graff, boasting four sugarloaf cabochon emeralds weighing a total of approximately 84 carats. These exceptional earrings carry a presale estimate of USD $800,000 – $1.5 million.
Additional highlights from this private collection include:
An aquamarine and diamond bracelet: USD $40,000 – $60,000
A jade and diamond pendant-brooch, circa 1910s: USD $25,000 – $35,000
Fancy Colours Steal the Spotlight The number two lot of the sale is a striking 5.02-carat fancy pink diamond ring with VS2 clarity, estimated at USD $1.5 million – $2.5 million. Following closely is a 2.02-carat fancy vivid blue diamond ring, cut in a modified rectangular mixed style, with an estimate of USD $1.4 million – $1.8 million.
Also drawing significant attention is a pair of flawless D-colour pear-shaped diamonds weighing 10.32 and 10.11 carats respectively. Both diamonds are rated “excellent” in polish and symmetry, with a combined estimate of USD $1.1 million – $1.5 million.
American Legacy: Vanderbilt and Wade Family Heirlooms Among the historic highlights is a ruby and diamond sautoir by Marcus & Co., dating back to circa 1915. The centrepiece is a 9.60-carat unheated Burmese ruby, surrounded by old European-cut diamonds and accented with calibre-cut rubies. This important jewel is estimated at USD $1 million – $2 million and once belonged to Emily Vanderbilt Wade, the great-granddaughter of Cornelius Vanderbilt and daughter of Rhode Island Governor William Henry Vanderbilt III.
Three other Vanderbilt Wade jewels will also go under the hammer:
Cartier Art Deco diamond bracelet: Estimated at USD $60,000 – $80,000
Rene Lalique Art Nouveau pendant: Crafted from gold, enamel, emerald and pearl, circa 1900, with an estimate of USD $20,000 – $30,000
Multistone tassel sautoir: Featuring rubies, emeralds, pearls, diamonds and enamel, and possibly designed by Paulding Farnham of Tiffany & Co., with an estimate of USD $40,000 – $60,000
A Rare Opportunity for Collectors and Connoisseurs This Sotheby’s auction is not only a chance to acquire some of the world’s most exquisite diamonds and gemstones but also to own a piece of history. With provenance linking to America’s most prominent families and jewellery houses such as Graff, Cartier, and Tiffany & Co., the pieces represent both artistic excellence and emotional legacy.
For collectors, investors, and jewellery lovers alike, 13 June will mark a significant date on the global jewellery calendar.
