A DIAMOND described as “one of the world’s great natural treasures” has become the most expensive jewel ever sold, going for £57million at auction.
The Pink Star is a 59.6-carat oval mixed-cut gem which is the largest internally flawless fancy vivid Pink diamond ever graded by the Gemological Institute of America.
It is more than twice the size of the 24.78-carat Graff Pink – which held the world auction record for any Pink diamond after it went under the hammer for £29million in November 2010.
Sotheby’s unveiled The Pink Star in London last month ahead of its sale in Hong Kong today.
The oval mixed-cut stone was bought by local jewellery retailer Chow Tai Fook.
The auction house gave the diamond – which was mined by De Beers – an estimate of “in excess of £48million”.
This broke the record for any diamond of £40million, which was set by the Oppenheimer Blue in 2016.
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.”
The Pink Star was originally a 132.5-carat rough diamond when it was mined in Africa by De Beers in 1999.
Experts spent TWO YEARS meticulously cutting and polishing it, transforming it into the stunning gemstone offered in Hong Kong.
It is the second time in less than four years The Pink Star has been offered at auction.
In 2013 Sotheby’s sold it for £52million in Geneva. The price was a record but the buyer and his investors defaulted on the payment and it was returned to the auction house.
Quek Chin Yeow, deputy chairman, Asia, and Chairman International Jewellery, Asia, added: “The market for the world’s finest diamonds and gemstones remains buoyant and Sotheby’s Hong Kong is honoured to present at auction the Pink Star this spring following these world records.”
How the Pink Star outshines its rivals
The Pink Star fetched the highest price ever paid for a diamond when it went under the hammer today.
The previous highest price paid for any diamond was £40million for the Oppenheimer Blue in 2016.
The previous world record price for a Pink diamond belonged to the 24.78-carat Graff Pink which sold for £29million in 2010.
In Sotheby’s in May 2015 the 25.59-carat Sunrise Ruby became the most expensive ruby ever sold at auction – going under the hammer for £19.6million.
The huge 392.52-carat Blue Belle of Asia sapphire set records when it sold for £11.52 million in November 2014.
While the world’s most expensive emerald – a Colombian 23.46-carat emerland sold at auction for £43million in 2011.
According to thesun.co.uk