There is a great deal of excitement and interest building up over ‘The Spirit of the Rose’ diamond which will be put up for sale later this year, though no details on the where and how have been released by ALROSA, the company which has not only mined the rare rough gem from which it was cut, but has also polished it.

Media reports quote Eden Rachminov, Advisory Board Member of the Fancy Color Research Foundation as saying that it could fetch over US$ 60 million. If it does manage to achieve this, or a higher price, it could well break the record for a pink diamond held by the CTF Pink Star, a 59.6-carat oval-shaped internally flawless fancy vivid pink diamond that was sold for US$71.2 million at Sotheby’s Hong Kong in 2017.

The Spirit of the Rose was fashioned from the 27.85-carat clear pink rough diamond found at ALROSA’s Ebelyakh mine in the Republic of Sakha (Yakutia) in July 2017, which was named the Nijinsky diamond. It is the largest pink rough diamond found in Russia so far.

“It took a whole year for Russian cutting masters to turn a unique diamond, discovered in Yakutia, into a genuine treasure,” says ALROSA in a website dedicated to the ethereal gem, and describing it as “A unique fantasy diamond, rich pink in colour.”

The stone’s weight is 14.83 carats – making it one of the largest pink diamonds in the world.

Moreover, the GIA has certified it as having a Fancy Vivid Purple-Pink colour; Internally Flawless clarity; Excellent polish; and Very Good symmetry characteristics.

ALROSA added: “The oval shape ensured that the diamond would be of the maximum possible size, and the dozens of facets emphasise its gentle, rose-petal colour.”

As experts have said, only one out of every 10,000 rough diamonds mined is classified as “fancy coloured.”

“This level of rarity has ensured steady price growth for coloured diamonds over the last 17 years, with an average 12% a year on average,” ALROSA says on the website. “Pink stones are record-holders at auctions all over the world. According to the estimates of the Fancy Color Research Foundation, the profitability of pink diamonds in 2005-2017 amounted to +363%.”

John King, Chief Quality Officer, GIA says in a video on The Spirit of the Rose’s website: “In the world of coloured diamonds pink diamonds are some of the most treasured and have been forever throughout history. They are extremely rare specially at larger sizes. It is unusual to see pink diamonds over one carat in the market today.” Putting this together with the various aspects of the 4Cs of the diamond, King goes on to describe it as “exceptional”, “an amazing specimen” and a “truly a unique stone”.

Quite apart from the intrinsic worth of the diamond, it also has a bit of historical romance attached to it through its name, which is derived from a ballet, Le Spectre de la Rose (The Spirit of the Rose) one of Ballet Russes Company’s all-time favourites. It opened on April 19, 1911 starring two of the Company’s most popular artistes, Tamara Karsavina and Vaslav Nijinsky.

Pic cap: ALROSA’s The Spirit of the Rose

Pic Courtesy: ALROSA