Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Dubai Multi Commodities Centre (DMCC) – and Government of Dubai Authority on commodities trade and enterprise hosted the unveiling of one of the world’s largest internally flawless fancy vivid pink diamonds – the “Williamson Pink Star” – at the Dubai Diamond Exchange.
The 11.15 carat flawless pink diamond started its roadshow in Dubai and will travel to Singapore and Taipei, before being offered by Sotheby’s at a single-lot auction in Hong Kong in October. Expected to fetch over $21 million, the Williamson Pink Star diamond has the potential to set a new price per carat record given its purity, DMCC said.
“The discovery of a gem-quality pink diamond of any size is an extremely rare occurrence,” Wenhao Yu, Chairman of Jewellery and Watches at Sotheby’s Asia said in a media release.
“Driven by a limited supply and rising demand, prices for top-quality large pink diamonds over 5 carats have increased exponentially over the past decade, serendipitously setting the scene for the appearance now of this one-of-a-kind stone.”
