A Bulgari Ring With a 24-Carat Pink Diamond Could Fetch $18 Million

A literal 24-carat gem will go under the gavel this fall.

An Bulgari ring with an enormous, emerald-cut pink diamond at the center will headline Christie’s Magnificent Jewels auction in late November.

The stone, which weighs an impressive 24 carats, comes from a family of European nobles. According to family lore, the current owner’s great-grandfather bought the gem in India during the 1950s. It was later entrusted to Bulgari, where it was subsequently transformed into a diamond ring. At that time of ‘50s postwar glamour, the Roman jeweler was rapidly growing in popularity, with the Via Condotti boutique welcoming the likes of Elizabeth Taylor and Richard Burton and Audrey Hepburn and Mel Ferrer.

The diamond, fittingly named the Bulgari Pink, displays the highly coveted Fancy Intense Pink color grade and a rectangular step cut. It is also classified as Type IIa—the chemically purest form of diamond, which comprises less than 2 percent of all mined diamonds. The stone’s size and hue make it exceedingly rare.

Since Western Australia’s Argyle Mine closed in 2020, the demand for pink diamonds has outstripped a rapidly dwindling supply. As such, existing stones continue to sell for staggering sums at auction. The 59.6-carat CTF Pink Star hammered down for a record $71.2 million at Sotheby’s Hong Kong in 2017, becoming the priciest gemstone ever sold at auction. The 18.96-carat Winston Pink Legacy achieved $50 million in 2018, setting a record price per carat ($2.65 million) for a pink diamond sold at auction. Rounding out the top five most expensive pink diamonds are the Graff Pink ($46 million), the Eternal Pink ($34.8 million), and Spirit of the Rose ($26.6 million).

The diamond has remained in private hands for over 70 years and has never before been offered for sale at auction. It is expected to hammer down for between $12 million and $18 million on November 10.

“From the legendary diamond fields to the ateliers of Bulgari, through generations of the same noble family and preserving an unbroken history of ownership, the Bulgari Pink is of exceptional rarity, and enduring elegance,” the auction house says.

The Bulgari Pink will be on view at the Four Seasons Hotel des Bergues in Geneva from November 5 to 10, before the auction.