Perhaps no greater phenomenon has electrified the global jewelry market in the past year than the skyrocketing prices achieved for large pink diamonds at auction.

In the last 15 months, four pink diamonds have fetched more than US$1m per carat at auction, with Christie's leading the way with The Vivid Pink, a 5 carat cushion-cut diamond that sold for more than US$2.1m per carat at Christie's Hong Kong in December 2009 - a record price per carat for any diamond sold at auction. 

Now, Christie's is pleased to announce it will offer a 10.09 Fancy Vivid purplish-pink diamond as the highlight of its April 12 Magnificent Jewels sale in New York. This exceptional diamond, with its highly desirable cushion cut, is estimated at US$12m-15m.

Christie's pink diamond

"Collector demand for large coloured diamonds has never been stronger, especially where pink diamonds of this size and quality are concerned. 

"Fewer than 10 percent of all pink diamonds mined weigh more than 0.20 carats, and even fewer exhibit the exceptional colour saturation and brilliance of this exceptional gem. 

"In all my years at Christie's, I have never seen such vivid colour in a stone of this size," said Rahul Kadakia, Head of Jewelry at Christie's New York.