Christie’s is getting an early start on their December sale of gems in Hong Kong releasing this 5ct. vivid pink diamond that it hopes will draw bids of $5-7m or more, according to Reuters. That’s getting close to the overall record of $7.4m for a 19.66-ct. pink diamond set in 1994 but would be a much higher per carat price.

Asian buyers are considered some of the most reliable acquirers of large diamonds though the Hong Kong sales have had their disappointments this year. Also, the colored stone market has not been necessarily driven by Asian buyers. Though Russian buyers, who pursued the record-setting Wittelsbach diamond, often appear at the Hong Kong salerooms ready to buy:

“There are pink diamonds and then there are pink diamonds,” said Francois Curiel, the international head of Christie’s jewelry department. “It is extremely rare for a stone of such top quality to appear on the market with top notes in color, cut, clarity and carat weight. This 5-carat vivid pink gem combines the best of all criteria,” Curiel added. […]

While the world’s most expensive jewel ever sold at auction is the “Wittelsbach” blue diamond, a 17th-century deep greyish-blue stone that fetched $24 million last year, top red and pink gemstones are also known for stratospheric valuations.

“In the fascinating realm of natural color diamonds, those of a distinct pink hue are among the rarest and most sought after,” Christie’s said.

Rare “Vivid Pink” Diamond Could Break Sale Record (Reuters)