Sh4.4 billion diamond ring to go on sale [PHOTO]

gloria mari

November 2, 2017 10:50 AM

Would you buy a Sh4.4 billion diamond ring?

Hong Kong is about to set yet another benchmark for most extravagant auction sales again this year.

A 14.93 carat pink gemstone in a diamond studded ring is set to be auctioned at Christie’s in Hong Kong this November 28.

The exquisite diamond has a jaw dropping price tag of Sh4.4 billion.

It is going to be part of an elite group of pink diamonds- probably one of the most important pink diamonds ever to be sold.

"The rarity of pink diamond makes it so valuable," Fung Chiang of Christie's jewellery department told AFP.

Research hasn’t managed to uncover much about why the stones turn pink.

Hong Kong’s track record of impressive sales includes a 900 year old ceramic bowl that was sold at Sotheby’s to an anonymous bidder for Sh3.9 billion which broke the record for ceramics.

Earlier this 2017, a giant diamond called “The Pink Star” broke the record for a gemstone sold at an auction where it fetched a soul crashing Sh7.4 billion. The stone was sold to a prominent East Asia jewellery chain.

And just before Hong Kong tycoon Joseph Lau bought his daughter a Sh5 billion diamond, the blue Josephine, he purchased a 16 carat pink diamond for a more “modest” Sh3 billion.

gloria mari