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Special pink diamond sells for small fortune at auction

If you think you've been overspending on Christmas presents so far, you've probably still got nothing on an unnamed person in Hong Kong.

This week, a beautiful piece of jewellery featuring an almost flawless diamond called the Pink Promise went under the hammer at Christie's autumn sale in the Asian country.

It sold to a private collector who wanted to remain anonymous for a whopping £24.1 million, making it the second most expensive pink diamond ever seen.

The stone weighs in at 14.93 carats and was described by the auction house as the "Picasso of the diamond world".

Christie's international head of jewellery Rahul Kadakia said the piece was very desirable thanks to a number of different factors.

"The colour of the stone was at the very top end of the pink diamonds," he said.

Indeed, the stone has been rated as 'Fancy Vivid Pink' by the Gemmological Institute of America (GIA), one up from 'Fancy Intense Pink'. Only one in every thousand diamonds mined are given the Fancy colour rating, making them extremely rare and sought-after.

The collector who originally owned the diamond had an expert cut it to bring out even more of its stunning colour and then oval-set into a platinum ring and surrounded by diamonds.

"You have an important size, a top colour, an absolutely clean stone and it is beautifully cut. So all of those elements together factored into the perfect masterpiece helped us achieve this price," Mr Kadakia concluded.

We wonder who the lucky person is who might be finding the ring in their Christmas stocking this year? And, at that price, if they ever dare wear it?

You might not be able to afford to splash out on presents for your friends and family with a multi-million pound budget, but that doesn't mean you can't get some great jewellery that's sure to put a smile on their faces.

We haven't got any Fancy Intense Pink diamonds here at Majique, but we have got a beautiful oval-cut red ring that will perfectly complement the colours of the festive season and is ideal for slipping into a stocking this Christmas.