A 14 Carat Pink Diamond Ring Sold For a Record $32 Million, Presumably To Elle Woods Herself

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Most of us will never know what it feels like to wear a 14 carat diamond ring on our finger, nor will we know what it’s like to have $32 million to spend on said diamond ring. But according to a press release, a 14.93 carat “Fancy Vivid” pink diamond sold for $31,861,000, a world-record per-carat price for any pink diamond over 10 carats.

Known as “The Pink Promise Diamond,” the stone is certified as Fancy Vivid Pink diamond, the most prized color grade of all pink diamonds.

Stephen Silver bought the original 16.10 carat pink diamond in 2013, but noticed that the stone’s cut made some areas of the diamond appear to be washed out. For three years, he worked to create a new cut for the diamond, cutting it down to try to save the most carat weight.

Doing this essentially gambled millions of dollars in lost carat weight if the recut diamond didn’t raise its color grade as hoped. Luckily, a GIA certificate affirmed that “The Pink Promise” diamond, with its new weight of 14.93 carats, “had achieved a Fancy Vivid pink color grading and a significantly higher appraisal value.” It was also assessed with an VVS1 clarity—AKA, the grade just under flawless.