Ehud Laniado's Cora International has Sold The Unique Pink Diamond for 31.5$ Million

May 17, 2016, 18:22 ET from RCSPR

GENEVA, May 17, 2016 /PRNewswire/ --

Cora International LLC has sold the exceptional 15.38-carat Unique Pink Diamond this evening for 31.5$ million and becoming the most expensive Fancy Vivid pink diamond to sell at auction. The stone combines an exceedingly rare and sought-after Fancy Vivid pink color, stunning clarity and exceptionally pure structure. The rare diamond was the highlight of the evening, prompting frenzied bidding during the Sotheby's Magnificent Jewels Sale in Geneva.

This sale marks the third record breaking sale for Cora International, whose chairman Ehud Laniado said:

"I am truly delighted that Cora International has brought a third record-breaking diamond to auction. The Unique Pink is the largest Fancy Vivid pink pear-shaped diamond ever offered and sold at auction. In November 2015, we sold the exceptional 12.03-carat Blue Moon Diamond for a record of $48.5 million to become the most expensive diamond ever sold at auction. Back in 2011, Cora International sold the Sun-Drop Diamond, which remains the largest known pear-shaped fancy vivid yellow diamond to be sold at auction".

According to the non-profit Fancy Color Research Foundation, pink diamonds have risen in value by more than 350 percent since it started its price index. By comparison, gold has risen by just over 160 percent.

"Pink diamonds are among the rarest in the world and they are increasingly being viewed as an investment, something I believe is the way of the future. Diamonds are beautiful and a treasure of nature, but more than this, they offer an economy of rarity that is making them increasingly attractive to savvy investors. Just as there is an established market for people who invest in vintage wines, classic cars and art, we are now seeing a growing global set of wealthy individuals from Shanghai to Dubai, who are growing in size and sophistication, who are increasingly recognizing the value of investing in unique items of luxury, including diamonds. I believe that in the future white diamonds will also become increasingly appealing for this reason. Make no mistake, even a one carat D Flawless IS diamond is a rarity of nature."

Cora International LLC : Headquartered on Fifth Avenue in New York City, Cora is a leading luxury brand and is one of the world's leading firms specializing in cutting large and important diamonds. Cora is known worldwide for its rare and unique diamonds of large sizes and vivid fancy colors.

Eran Yoels
Head of the Business Com. Dept.
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SOURCE RCSPR