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It was sold by Harry Winston in the 1950’s to a private collector who wished to remain anonymous. The Graff Pink, a rare 24.78 carat pink diamond, once owned by American celebrity jeweller Harry Winston, has been described as "one of the greatest diamonds ever discovered". The ring features a bow design set with round brilliant cut and baguette cut diamonds. In the world of diamonds 1-2% is not considered as rare, as all colorless or white diamonds (D to F color grade) are also Type IIa and come under this 2%.2) Rare Pink Diamond Bought by Graff for Record $46 Million at Geneva Auction - Nov.16, 2010. www,bloomberg.comSub-type 2 - Chemically pure but structurally imperfect diamonds. While the diamonds to emerge from Letšeng consistently achieve the highest price per carat of any rough diamonds in the world, Graff has set a new record with the acquisition of the 13.33ct pink diamond. Before the 19th-century the only source of pink diamonds in the world was the Kollur mines, near Golconda, in southern India. The unprecedented demand for high-quality pink diamonds at a time when most regions of the world were still recovering from the global economic recession of 2008/2009, was attributed to the natural behaviour of the super-rich still looking for safe havens to invest their excess money.14.23-carat "The Perfect Pink Diamond" sold at Christie's Hong Kong auction on November 29, 2010The correct notion of the rarity of Pink diamonds can be given only when considering the three Sub-types of Type IIa diamonds :-The Graff Pink Diamond is a Type II diamond as it does not contain detectable quantities of nitrogen impurities. Graff purchased the 24.78-carat emerald-cut fancy intense pink diamond at a Switzerland auction in November 2010 for $46 million. Because of the long, almost rectangular facets, and shallow pavilion and crown, emerald-cut diamonds are not bright and fiery as brilliant-cut diamonds. The demand seems to continue into the current year 2011, as indicated by the price realized by a 10.99-carat, fancy intense pink diamond, sold at a Sotheby's auction in Geneva, on May 17, 2011, that registered a price of US$ 10.8 million. A rare pink diamond has smashed the world record for a jewel at auction, selling for more than $46m (£29m) to a well-known gem dealer. The Princie Diamond - Set the record for "the second most expensive diamond sold at auction!" Open FREE Unlimited Store Join Our Newsletter.
And since then improved its color and clarity, basically perfecting a near perfect diamond.

Hence, the unknown master cutter who originally cut the Graff Pink diamond had deliberately chosen the emerald-cut, fully aware of the great potential of the rough diamond, its high clarity and color grade and the homogenous distribution of color in the stone. An extremely low probability of occurrence indeed !! The first was the much criticized recutting and repolishing of the historic 35.52-carat Wittelsbach diamond, purchased by Laurence Graff at a Christie's auction in London in December 2008 for US$ 24.3 million, which after the sacrifice of just 4.45 carats became the 31.07-carat, Wittelsbach-Graff Diamond, achieving a substantial GIA upgrade both for its color and clarity, but retaining the overall look of the original stone, by not interfering with the original double stellate brilliant facet pattern of the historic 17th-century diamond, cut in Europe but originated in the famous Kollur mines of Southern India.
The Graff Pink, a rare 24.78 carat pink diamond, once owned by American celebrity jeweller Harry Winston, has been described as "one of the greatest diamonds ever discovered". It was bought by Graff for US$12.4 million and transformed into 26 D flawless and internally flawless diamonds of various cuts, the largest of which was a 76ct pear shape, all used to make a single necklace.Later that same year, in 2015, the 375ct Letšeng Dynasty rough diamond was found.