Ramat Gan, Israel--Leibish & Co. has polished and will now present its “Purple Orchid” diamond, a 3.37-carat fancy intense pinkish-purple, VS2-clarity diamond, in Hong Kong later this month.
The Purple Orchid diamond is from a South African mine, one of the few places where purple diamonds can be found. Leibish said that its chief diamond buyer, Shmulik Polnauer, was informed of the rough diamond when its owners were traveling around to generate interest in the stone, and he flew to India to see it himself in person.
Polnauer negotiated with the owners, who chose to remain anonymous, for four days before reaching a deal for the nearly 4-carat stone. Leibish has valued the diamond at $4 million.
After four months of polishing, the final cushion-cut Purple Orchid diamond will be on display for the public for the first time at the upcoming September Hong Kong Jewellery and Gem Fair, slated for Sept. 15 to 19.
The discovery of the diamond comes after color authority Pantone declared the 2014 color of the year as “Radiant Orchid,” after which the stone is named.