World's largest pink diamond set for record-breaking Sotheby's sale

Diamonds Forever

Diamonds Forever

2017-03-20 14:53:55

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The world's largest Vivid Pink diamond is set to cross the auction block at Sotheby's in Hong Kong next month.

Weighing a remarkable 59.60 carats, The Pink Star is expected to surpass the world record as the most expensive pink diamond ever sold.

That record is currently held by the 'Graff Pink', a 24.78-carat Fancy Intense Pink diamond which sold at Sotheby’s Geneva in 2010 for $46.2 million.

"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," said David Bennett, Worldwide Chairman of Sotheby’s Jewellery Division.

"The extraordinary size of this 59.60-carat diamond, paired with its richness of colour, surpasses any known pink diamond recorded in history."

(Images: Sotheby

(Images: Sotheby's)

The Pink Star was originally a 132.5 carat rough diamond mined by De Beers in Africa in 1999, before being meticulously cut and polished over a period of two years.

Having been crafted into a stunning 59.60-carat oval-cut pink diamond, it then became the largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America (GIA).

The Pink Star was initially offered for auction at Sotheby's in Geneva in 2013, where it sold for $83.18 million – making it the most expensive diamond ever sold at auction.

The winning bidder was New York diamond cutter Isaac Wolf, who announced he would rename it The Pink Dream, but when Wolf reportedly defaulted on his payments the diamond was returned to the Sotheby's inventory.

With the sale cancelled, the record reverted back to the Graff Pink. However, The Pink Star is expected to once again challenge that record when it hits the auction block for a second time, with an estimated price of US$60 million (HK$468 million).

The Pink Diamond will be exhibited in Hong Kong from 29 March–3 April, before headlining the Sotheby's Magnificent Jewels and Jadeite sale in Hong Kong on April 4.

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