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Pink Star Diamond to fetch $60 million at Sotheby’s auction

Posted by on in Icecooldiamonds.com
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A 59.60 carat pink diamond, named the Pink Star is to be auctioned in Hong Kong on April 4th, as part of Sotheby’s Magnificent Jewels auction and is expected to fetch $60 million.  

The oval pink mixed cut diamond is the largest Internally Flawless, Fancy Vivid Pink diamond ever graded by GIA. The stone is also a Type IIa diamond, which is the most valued and purest type of diamond, with less than two percent of all gem quality diamonds given this classification.

The Pink Star was mined by De Beers in 1999 and weighed 132.5 carat in the rough. Due to the exceptional rarity of the stone, it took almost 2 years to plan, cut, polish and finish the stone.

April 4th 2017 isn’t the first time the Pink Star has been offered by Sotheby’s at auction. In 2013 the Pink Star was auctioned in Sotheby’s Geneva sale and was bought by a New York-based diamond cutter for $83 million. According to reports the auction price was never settled by the buyer and was returned to Sotheby’s catalogue. 

David Bennett, Worldwide Chairman of Sotheby’s Jewellery Division said, “At a time of unprecedented demand for the finest in coloured diamonds, I am delighted to be bringing this magnificent stone back to the market.” “The extraordinary size of this 59.60-carat diamond, paired with its richness of colour, surpasses any known pink diamond recorded in history.”

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