A 14.93-carat fancy vivid pink diamond, the centerpiece of Christie’s Magnificent Jewels Hong Kong auction, sold for $31,861,000, setting a record per-carat price for any pink diamond above 10 carats. Also referred to as “The Pink Promise Diamond,” the stone has a fancy, vivid pink diamond certification, the most sought-after color grade among all pink diamonds. The Pink Promise diamond’s former owner, haute jeweler and diamonteer Stephen Silver, took a significant risk when he sold it. fancyIn an attempt to maximize the color potential of a 16.21-carat fancy intense pink diamond, Mr. Silver undertook a daring recut, which resulted in “The Pink Promise” and its auction sale that set a world record. 

When Stephen Silver purchased the original 16.10-carat fancy intense pink diamond in June 2013, he saw that some parts of the stone appeared to have been washed away due to the stone’s cut. He saw this as a chance to recut the rock for a better color grade. Working with a skilled gem cutter for over three years, Mr. Silver meticulously planned a new cut for the scarce Type IIa pink diamond, removing facet after facet to conserve the most significant carat weight while encouraging the gem to produce the most color. If the recut stone’s color grade did not improve as anticipated, the procedure risked millions of dollars in lost carat weight. At last, “The Pink Promise” diamond, now weighing 14.93 carats, was officially certified by GIA to have a fancy vivid pink color grade and a much higher evaluation value. The highly uncommon Type IIa Fancy Vivid pink diamond was evaluated with a VVS1 clarity rating, which is just below perfect.

International color gemstone collectors have come to know Stephen Silver throughout his career for his skill in locating, creating, and crafting the best jewelry and gemstones available. Some of the most sought-after stones in the world have been worked with (and reimagined) by Mr. Silver. These stones range in size from 1 carat to 6 carats and include:

• A fancy purplish red diamond (“The Cranberry”).
• A fancy, vivid orange.
• “The Million Dollar Pumpkin” (as seen on the Today Show)
• A fancy, vivid blue diamond.

The most significant and most valuable stone acquisition endeavor Mr. Silver has undertaken to date, “The Pink Promise,” signifies the next milestone in his career as a gemologist. Stephen Silver made the following remarks on “The Pink Promise” and its historic sale:

Due to the high financial risk and technical difficulties, this diamond’s recut was the most difficult one I have ever worked on. But having my name attached to one of the most extraordinary diamonds in the world and working with an elite team is a luxury.”

Conclusion

• “The Pink Promise,” a 14.93-carat fancy vivid pink diamond, set a record-breaking auction price of almost $32 million, establishing a per-carat record for pink diamonds above 10 carats.
• The diamond’s former owner, Stephen Silver, took a significant risk by undertaking a daring recut of a 16.21-carat fancy intense pink diamond to maximize its color potential, resulting in the creation of “The Pink Promise.”
• The recut process, spanning over three years, aimed to improve the stone’s color grade, with meticulous planning to conserve carat weight while enhancing color, ultimately achieving a fancy vivid pink color grade and a much higher valuation.
• Stephen Silver, known for his expertise in locating and crafting exceptional gemstones, considers “The Pink Promise” as a significant milestone in his career, acknowledging the high financial risk and technical challenges involved in the diamond’s recut.