New Record Set for the World's Most Expensive Diamond at Auction

The Pink Star estimated to sell at $60 m sold for $71.2 m at Sotheby's Hong Kong on 4 April with bidding lasting only 5 minutes, the highest price ever paid for a jewel at auction.

The Pink Star. Image courtesy of 77Diamonds.
The Pink Star. Image courtesy of 77Diamonds.

"The Pink Star has returned to rock the diamond world - and for all the right reasons. It is pure diamond perfection… but within the diamond auction world, the Pink Star has set a new bar," commented 77 Diamonds managing director Tobias Kormind.

Read more: Harrods Unearths 228.31 ct Diamond from its Vaults for Private Sale

When the Pink Star was last brought to auction by Sotheby's in 2013, it almost became the world's most expensive diamond. However, the winning bidder Isaac Wolf was unable to pay the $83 m promised and Sotheby's was forced to retain the diamond. The sale on 4 April marks a new chapter in the story of this extraordinary diamond. The buyer is Hong Kong jewellery retailer Chow Tai Fook Jewellery.

The Pink Star. Image courtesy of 77Diamonds.
The Pink Star. Image courtesy of 77Diamonds.

Read more: Vivid Purple and Violet Diamonds Shine in 'Rare Brilliance' Showcase

A spokesperson for Chow Tai Fook Jewellery said, "The 'CTF Pink Star', the largest polish diamond of its class, is a legend and full of heritage, something in common with our brand. We are excited to have this beautiful piece to celebrate along with our 88th anniversary this year." Chow Tai Fook Jewellery was founded in 1929 and with more than 2000 stores throughout greater China is the world's largest jeweller. 

Read more: The Tale of the Mouawad-Tereschenko Blue Diamond

A unique and incredibly rare stone, the Pink Star at 59.60 ct is the largest vivid pink internally flawless diamond ever graded by the GIA (Gemmological Institute of America).  Mined in South Africa in 1999 by De Beers, the rough stone weighed 132.50 ct. The stone was unveiled to the public in May 2003 at the Monaco Grand Prix.  

The Pink Star. Image courtesy of 77Diamonds.
The Pink Star. Image courtesy of 77Diamonds.

 

Other Historic Diamond Sales

May 2016: The Oppenheimer Blue, 14.62 ct, sold at Christie's Geneva for $57.5 m, setting an auction record. It was sold to an anonymous buyer. 

Nov 2016: The Blue Moon of Josephine, 12.03 ct, sold at Sotheby's Geneva for $48.4 m, the highest price ever paid per carat for any diamond at auction - over $4m per carat. The diamond was bought by Joseph Lau for his 7 year old daughter.

Nov 2010: The Graff Pink, 24.78 ct sold at Sotheby's Geneva for $46.2 m, believed to be the most expensive gemstone bought at the time at auction. Purchased by Laurence Graff. ■

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Cover image the pink start mounted. Image courtesy of 77Diamonds.

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