Most valuable diamond in the world goes up for auction

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. (http://www.reuters.com/article/sothebys-pinkstar-idUSL3N0LX2KN20140228)

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 Jewellery 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.

(REUTERS)

 
 
 

No Official Intel Existed to Start FBI Russia-Collusion Probe, Lawmaker Says

No Official Intel Existed to Start FBI Russia-Collusion Probe, Lawmaker Says
The FBI started investigating the Trump campaign's alleged collusion with Russia without any official intelligence to justify it, ...
READ MORE >
 

New York Falun Gong Practitioners Commemorate Anniversary of Peaceful Protest in China

New York Falun Gong Practitioners Commemorate Anniversary of Peaceful Protest in China
Nineteen years ago, on April 25, more than 10,000 Falun Gong practitioners gathered in Beijing for one purpose: ...
READ MORE >
 
US

Police: Waffle House Suspect Arrested Near His Apartment

Police: Waffle House Suspect Arrested Near His Apartment
By SHEILA BURKE NASHVILLE, Tenn.—The suspect in an attack that killed four people at a Waffle House restaurant ...
READ MORE >
 

North Korean Defector Hopes Human Rights Issues to Be Discussed During Inter-Korea Summit

North Korean Defector Hopes Human Rights Issues to Be Discussed During Inter-Korea Summit
North Korean defector Ji Seong Ho, who came to South Korea in 2006, hopes that human rights issues ...
READ MORE >