Could it be? Are pink diamonds losing their luster? The Israel Diamond Portal has published story after story about pink diamonds commanding staggering record prices at auction – the Graff Pink, the Perfect Pink – and yet at a Christie's jewel auction in New York this week, a 10.09-carat cushion-cut diamond with a color grade of Fancy Vivid Purplish Pink set in a ring flanked by smaller white diamonds went unsold.

Perhaps the pre-sale estimates of $12-$15 million put off potential bidders.

Rahul Kadakia, Christie's head of jewelry, said in a statement that while the auction house was "disappointed" that the 10-carat purple-pink diamond did not find a buyer, "top-quality white, blue, pink and yellow diamonds fared very well at the New York Magnificent Jewels auction."

Kadakia noted that the transaction is "still alive" and said "perhaps we'll see something take place in the coming days."

The pink diamond ring may have gone unsold, but it didn't stop Christie's from making over $32 million at the sale. A number of lots sold very well, including five that fetched over $1 million.

A 3.25-carat emerald-cut Fancy Vivid Blue diamond sold for $3.67 million, or $1.1 million/carat, and a smaller pink diamond weighing 6.61 carats with a clarity grade of VS2 went for $3.5 million. The single biggest price realized for any lot under the hammer was a 37.16-carat rectangular cut D color, Internally Flawless diamond set in a ring, which sold for close to $4.5 million.

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