World's Largest Pink Diamond Up For Auction In Shanghai

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Christie’s Spring Auction preview of jewels, watches, and art opened to visitors on Tuesday in Shanghai, China. The centerpiece of the auction was two large diamonds pink diamonds, together valued at almost 10 million dollars.

Here in Shanghai, auctioneers had a chance to marvel at this year’s Spring Auction by Christie. But many came for this - The Martian Pink, a 12.04-carat pink diamond evaluated over 8 million dollars. It’s the biggest pink diamond in the auction market history. It’s been paired with another 11.85-carat pink diamond valued at 1.7 million dollars.

According to Chiang Chaofeng, diamond expert in Christie’s Hong Kong office, the stability of a diamond value is the major advantage of diamond investment, and that attracts lots of China mainland purchasers.

[Chiang Chaofeng, Christie’s Hong Kong Office Diamond Expert]:
“The appreciation of diamond investment grows slowly compared with other investment aspects, but the biggest advantage is stability of the growth. More than 10 percent of our buyers are from the Chinese Mainland, and it has increased dramatically from five or six years ago. We predict mainland buyers will continue to increase gradually in the future.”

Some famous watch companies are also exhibiting their newest products, including Patek Philippe, Chopard, Rolex, and Vacheron Constantin, to name a few.

33 pieces of art are up for bid, including masterpieces from famous artists Zhang Xiaogang, Zhao Wuji and Yue Minjun.

The 2012 Christie’s Spring Auction will next travel to Hong Kong from May 25 to 30.

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