Brief History of Diamonds
Diamonds have long been coveted for their beauty and rarity. Historians trace diamond trade back to India as early as the fourth century BC. By the 1400s, they became fashionable among European elites, though they remained rare and accessible only to the wealthiest until the mid-1800s. The modern diamond market was born in 1866 with the discovery of diamonds in Kimberley, South Africa. In 1888, Cecil Rhodes established De Beers Consolidated Mines, and by 1900, the company controlled 90% of the world's rough diamond production. In 1927, Ernest Oppenheimer became De Beers' chairman. However, a global decline in diamond prices in the 1930s prompted Oppenheimer to launch one of the most successful marketing campaigns in history. The iconic slogan "A diamond is forever" debuted in 1947, cementing diamonds as symbols of love. Below, we explore five of the most expensive diamond rings ever sold at Sotheby's.
1. The Eternal Pink Diamond Ring, 34,804,500 USD
The Eternal Pink Diamond Ring sold for 34,804,500 USD in June 2023. The Eternal Pink Diamond Ring features a 10.57-carat Fancy Vivid Purplish Pink diamond with trapezoid-shaped side stones. This Internally Flawless 10-carat ring, natural-color Type IIa diamond is exceptionally rare, as noted by the GIA, which provided a special letter and monograph describing it as "a stunning specimen; one of nature's great wonders transformed through artistry and ingenuity." The GIA emphasizes the Eternal Pink's rarity, citing its vivid color, flawless clarity, and substantial size as unparalleled among pink diamonds at auction. Crafted by Diacore—renowned for diamonds like the Williamson Pink Star and CTF Pink Star—the Eternal Pink was discovered in 2020 at Botswana's Damtshaa mine. The 23.78-carat rough stone was meticulously cut over six months in New York into a mixed cushion shape, maximizing its vivid color and brilliance.
2. Fancy Vivid Blue Diamond Ring, 198,220,000 HKD
The Fancy Vivid Blue Diamond Ring sold for 198,220,000 HKD in October 2023. This diamond ring has a radiant-cut fancy vivid blue diamond weighing 11.28 carats. It is also embellished with brilliant-cut diamonds and diamonds of pink tint, mounted in 18 karat white and pink gold. The diamond is Fancy Vivid Blue, Natural Colour, VS2 Clarity; also accompanied by a diamond type classification report stating that the diamond is determined to be a Type IIb diamond.
This exceptional ring is accompanied by a monograph expressing the rarity and the characteristics of the stone, as well as a letter stating that ‘...To say the Infinite Blue is special cannot be overstated. The odds of finding a blue diamond is of the topmost rarity. This glorious and notable diamond is an example of what can occur when nature leads the way and humankind embraces the earth’s treasures—producing a gem of spirited light performance.’
3. Bulgari Laguna Blu Fancy Vivid Blue Diamond Ring, 22,625,100 CHF
The Bulgari Laguna Blu Fancy Vivid Blue Diamond Ring sold for 22,625,100 CHF in May 2023. The exceptional and rare 11.16-carat fancy vivid blue diamond ring, known as Laguna Blu, is set in a Bulgari mounting. The diamond features a Natural Colour, VS1 clarity, and a Type IIb classification. Renowned for its superb craftsmanship and style, Bulgari has a legacy of using prestigious gemstones. Giorgio Bulgari, son of founder Sotirio Bulgari and a pioneer in introducing colored diamonds to the brand, initially acquired this rare gem. It was later purchased by another prominent collector and has remained in their collection until it made its auction debut in 2023.
The diamond’s rich, mesmerizing blue hue and classic unmodified pear shape make it exceptionally rare and highly sought after. At the Met Gala 2023, actress and Bulgari Ambassador Priyanka Chopra Jonas showcased the diamond, wearing it on a bespoke Bulgari necklace inspired by Greco-Roman bay laurel wreaths.
4. Fancy Intense Pink and Fancy Deep Grayish Blue Diamond Ring, 10,377,267 CHF
The Fancy Intense Pink and Fancy Deep Grayish Blue Diamond Ring sold for 10,377,267 CHF in May 2023. The diamond ring features a fancy intense pink center diamond weighing 21.94 carats with fancy deep grayish blue diamond shoulders weighing 0.51 and 0.46 carat and a mount enhanced with brilliant-cut diamonds. The 20 carat center diamond is Fancy Intense Pink, Natural Colour, VVS2 Clarity. The side diamonds weighing 0.51 and 0.46 carat, are Fancy Deep Grayish Blue, Natural Colour, VS2 and SI1 Clarity.
5. Fancy Vivid Purplish Pink Diamond Ring, 5,619,900 CHF
The Fancy Vivid Purplish Pink Diamond Ring sold for 5,619,900 CHF in May 2023. The diamond ring is set with a round-cornered rectangular modified brilliant-cut fancy vivid purplish pink diamond weighing 5.01 carats. The seamless mount set with fancy-shaped diamonds, further enhanced with brilliant-cut diamonds. The center diamond is Fancy Vivid Purplish Pink, Natural Colour, VS2 Clarity. The remaining diamonds stated to weigh a total of approximately 2.90 carats, on average D-F colour, VVS-VS clarity.
Buy and Sell Diamond Rings with Sotheby’s
Whether you're a seasoned collector or new to the world of fine diamond rings, Sotheby’s offers a trusted, seamless way to buy and sell exceptional pieces on the secondary market.
Why Choose Sotheby’s?
- Expertly Vetted Selection: Explore rare and iconic diamond rings, from classic designs starting around $4,000 to extraordinary, one-of-a-kind pieces valued over $800,000.
- Exclusive Global Access: Shop diamond rings through auctions and Buy Now marketplace, backed by a worldwide network of collectors, consignors, and trusted suppliers.
- Flexible Ways to Buy: Purchase online or in person at our locations in New York, Paris, London, and Hong Kong—or work with a dedicated jewelry concierge.
- Exceptional Value: Every diamond ring is authenticated and priced by Sotheby’s specialists to reflect true market value, with many pieces available below their original retail price.
- Constantly Evolving Inventory: Discover a curated selection of diamond rings, from vintage designs to modern masterpieces, with new pieces added regularly.
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