$60 Million ‘Pink Star’ Diamond Goes Back on Sale Next Month
The Pink Star diamond, the most valuable cut diamond ever offered at auction is displayed by a model at Sotheby's auction rooms in London, Monday, March 20, 2017.
A 59.60-carat diamond known as "The Pink Star" is returning to auction next month and could fetch a record $60 million, three years since it was sold for even more - only for the buyer to pull out of the deal.
The diamond was presented by Sotheby's in London ahead of the auction in Hong Kong on April 4.
In November 2013, a Geneva auction of the stone fetched a world record $83 million but the buyer, New York-based diamond cutter Isaac Wolf, could not pay up and defaulted.
However, after some more successful auctions of colored diamonds in recent years, the auction house said that now was a good time to try again.
"The last few years we've had colored diamonds perform extremely well, many new records been created at auction for the colored diamonds, pinks and blues mainly, so we thought it was a good time to bring it to the market," David Bennett, worldwide Chairman of Sotheby's Jewelry Division, told Reuters.
In 2015 the "Blue Moon of Josephine" sold for $48.5 million in Geneva. At 12.03 carats, it set a price-per-carat record.
"The Pink Star" is the largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America (GIA), the auction house said, yet the sparkling stone is still small enough to fit onto a ring.
Sotheby's said that the mixed-cut diamond was initially mined by De Beers in 1999 in Botswana as a 132.5 carat rough diamond before being cut and polished.
Its refined form is now set to be the most valuable polished diamond ever offered at auction.
"The extraordinary size of this 59.60-carat diamond, paired with its richness of color, surpasses any known pink diamond record in history," Bennett said.
Bennett said the current record for a pink diamond was held by the "Graff Pink". At 24.78 carats it is half the size of The Pink Star and was sold in Geneva for $46.2 million in 2010.
Add Commentall comments
The north of England's leaders should "take control" of their own...
Children whose fathers are in jail are being punished by rules which...
About 5,000 carrot-coloured ecstasy tablets in the shape of Donald...
After her party, Demi took to Twitter to share her excitement with fans...
A telecom company in the Netherlands has teamed up with the country's...
British Airways cabin crew are set to go on strike in mid-June, offering...
Long-term U.S. mortgage rates rose this week, marking new highs for 2017....