59.60ct Pink Star diamond breaks auction record at $83.1m in Geneva

paulfrasercollectibles

2015-06-26 13:31:32

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59.60ct Pink Star diamond breaks auction record at $83.1m in Geneva

The 59.60-carat Pink Star, renamed the Pink Dream, is the world's most valuable diamond

The world auction record for any diamond has been set at Sotheby's Geneva by the 59.60-carat Pink Star, now renamed the Pink Dream.

Pink Star diamond Sotheby'sThe most valuable diamond ever soldat auction, one of 'the earth's greatest natural treasures'

The gem is an internally flawless fancy vivid pink diamond, and is huge in size, warranting its $83.1m sale price on November 13.

The previous record was held by the 24.78 carat Graff Pink, which sold for $46.2m at Sotheby's in 2010 - the new record raises this by 79.8%.

Not only was this record set, but Sotheby's also achieved the highest total for a jewellery sale in history. Further records included the top price for a jewel by Van Cleef & Arpels at $10.5m, a record for a pair of colourless diamonds at $9.2m, and the auction record for a sapphire at $8.3m.

Pink Star Dream diamondThe diamond has been mounted as a ring, but it is unsure what Isaac Wolf will do with it

The Pink Star has been purchased by the famed diamond cutter Isaac Wolf, who has renamed it the Pink Dream. Mined by De Beers in Africa in 1999, it took the esteemed Steinmetz Diamonds two year to cut and polish it from its rough state.

"I have had the privilege of examining some of the greatest gemstones in the world over the past 35 years, and I can say, without hesitation, that The Pink Star diamond is of immense importance," commented Sotheby's David Bennett, chairman of jewellery.

"It is difficult to exaggerate the rarity of vivid pink diamonds weighing only five carats, so this 59.60 carat stone is simply off any scale, and passes, I believe, into the ranks of the earth's greatest natural treasures."

Christie's saw a new world record for an orange diamond in Geneva on November 12, while Sotheby's set a record for any white diamond in October.

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