The Bulgari Pink, a pink diamond of 24 carats, sold for CHF 12,086,000 at Christie’s in Geneva on 10 November. That is about $14.8 million, inside the estimate of CHF 10 million to CHF 15 million, as reported by Rapaport and IDEX. It was the top lot of the Magnificent Jewels sale, which made CHF 41.5 million.
At CHF 12.1 million, the Bulgari Pink made a little over CHF 500,000 a carat.
The stone: an emerald cut of 24 carats, graded VVS2
The diamond is an emerald cut of 24 carats, graded fancy intense pink, type IIa and VVS2 for clarity. Bulgari set it as a ring in Rome in the 1950s, after the consignor’s great-grandparents acquired the stone in India, and it stayed in the same European collection for about 70 years. It had never been offered at auction, as in our preview of the sale. The buyer was not named.
A price inside the estimate
Christie’s had estimated the ring at CHF 10 million to CHF 15 million, or $12 million to $18 million. The result sits in that range. It did not reach the level of the great vivid pinks, and nobody expected it to, because the stone is one colour grade below them. In dollars it still passes two recent Christie’s results that IDEX lists beside it: the 10.38-carat Marie-Therese Pink, at $13.98 million in June 2025, and the 10.20-carat Eden Rose, at $13.29 million in June 2024. Both were less than half its size. The record for a pink diamond remains the 59.60-carat Pink Star, sold for $71.2 million at Sotheby’s in Hong Kong in April 2017.
The rest of the sale: sapphires, a green diamond and a 1952 Zip necklace
The sale as a whole made CHF 41.5 million, or $50.1 million. Behind the pink diamond, coloured stones did the work. A brooch with a Ceylon sapphire of 54.76 carats made CHF 1.6 million against a high estimate of CHF 500,000, and a ring with a Kashmir sapphire of 23.72 carats made CHF 1.5 million. A fancy intense bluish-green diamond of 5.01 carats sold for CHF 1.1 million, about six times its high estimate of CHF 180,000. A Van Cleef & Arpels Zip necklace with matching earrings, made in 1952, reached the same CHF 1.1 million.
The Luxury.it perspective
This is a solid price. It is also what a correct estimate looks like. A 24-carat pink from an old European collection, with a Roman setting and no auction history, was always going to sell, and the open point was the multiple. The market paid the estimate and stopped there. The surprises were lower down, where a green diamond and a Ceylon sapphire went for several times their estimates. That fits the week. Two days earlier Phillips took its Geneva watch sale past $100 million, as in our report on the Geneva Watch Auction, and there too the highest prices went to rarity with a story attached. The next reading for pinks comes from Sotheby’s, which offered an 8.63-carat stone in Geneva on 11 November.
Related guides
A blue diamond and a Kashmir sapphire at Phillips · The steel Patek Philippe 1436 · Vacheron Constantin’s concours winners · Turner’s Rome at Sotheby’s
