The 1.68-Carat Pink ‘Prosperity’ Diamond Has A Lucky Hook For Chinese Buyers

pink prosperity diamond, leibish,

[credit provider=”Courtesy of Leibish & Co.”]

Shmulik Polnauer sat examining a 1.71 pink diamond at the 2011 Pink Argyle Tender. He spent nearly two hours with it, then phoned his father, Leibish Polnauer, the CEO of Leibish & Co. Fancy Diamonds.Shmulik placed a bid at the tender and won six pink diamonds from the Argyle mine in Australia, which he brought back to the Israel-based company.

The company turned the 1.71 pink diamond into a 1.68 carat Fancy Vivid Purplish Pink. By upgrading the colour, he also significantly upgraded the price.

Leibish & Co., a family-run, online-only business, is offering the diamond for $1 million on the company’s website. Leibish is New York through Monday, displaying the diamond in select show rooms by request.

“The Pink Prosperity Diamond,” which gets its name sake from the characters “1.68,” meaning “prosperity” in Chinese, is extremely rare in its colour and size. The number’s 1,6, and 8 — in that order — are also good luck in the Mandarin language.

pink argyle diamond ring

[credit provider=”Courtesy of Leibish & Co.”]

The pink diamond is now set in a multi-diamond ring.Adding intrigue to the diamond is its provenance in western Australia, where the mine known for producing pink diamonds is coming close to being depleted.

It’s rumoured that eventually, pink Argyle diamonds will become completely extinct, Leibish said.

“Right now, the only pink diamonds they are digging up in Argyle are small, terrible quality,” Leibish said. “And you know the market, when something is rare, all of a sudden everybody wants it. The Argyle’s running out will be great for the price of pink diamonds.”

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