Diamond Dealer’s Spending Spree: $18 Million for Two ‘Priceless’ Colored Diamonds in 24 Hours

Who is this gentleman and why is he smiling? Well, Brett Stettner, a diamond dealer and head of a diamond investment fund, stunned the auction world last week when – within a 24-hour period – he purchased two highly prized colored diamonds for a combined $18 million. The successful bids were made at back-to-back events at New York’s Sotheby’s and Christie’s.

On April 17 at Christie’s, Stettner placed the winning bid of $15.7 million for The Clark Pink, a 9-carat cushion-cut purplish pink diamond from the estate of the reclusive heiress Huguette Clark. The bid shattered the pre-auction estimate of $6 to $8 million and set a record for the highest price ever paid for a pink diamond sold at auction in the U.S., according to JCK Magazine.

Only one day later, Stettner secured a 3.54-carat marquise-shaped fancy blue diamond ring for $2.4 million at Sotheby’s. The piece sold for nearly five times the pre-auction high estimate of $500,000. JCK Magazine reported that the purchase price of $687,712 per carat was a world record per-carat price for a fancy blue diamond, topping the 20.17-carat fancy blue diamond ring that sold for $490,952 per carat at Sotheby’s in October 1994.

Stettner told JCK that he feels “humbled” to have won such rare stones.

“These are unique, wonderful colored diamonds,” he said. “There are not many stones like these. They are priceless.”

Regarding The Clark Pink, Stettner said, “It is the most beautiful pink I have ever seen. The color is just sensational. It is a true bubblegum pink. It has so much character, so much charm. In my 24 years of being in the business, I haven’t seen anything that resembles this diamond.”

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