‘The Pink Star’ – a 59.60-carat oval cut pink diamond – sold for $83m (£55m) at Sotheby’s Geneva on November 13, an auction record for any gemstone or jewel.
The price eclipsed the previous record of
$46.2m established three years ago by Sotheby's Geneva for the
Graff Pink - a 24.78 carat fancy intense pink diamond.
The Pink Star was cut from a 132.5
carat rough diamond mined by De Beers in Africa in 1999. It is the
largest internally flawless fancy vivid pink diamond that the
Gemological Institute of America (GIA) has ever graded and they
awarded it their highest colour and clarity grades.
It was also found to be part of the rare
subgroup comprising less than 2% of all gem diamonds known as Type
IIa. Stones in this group are chemically the purest of all diamond
crystals and often have extraordinary optical transparency.
Unveiled as the Steinmetz Pink
in Monaco in 2003, the stone was first sold privately in 2007 and
subsequently renamed The Pink Star.
A vibrant market for coloured diamonds saw
it appear at auction for the first time with an estimate of $60m.
Four bidders competed before it was bought by the New York diamond
cutter Isaac Wolf who has renamed it The Pink
The day before at Christie's equivalent sale
on November 12, The Orange, a pear-shaped, fancy vivid
orange, VS1 diamond of 14.82 carats sold at $35.5m (£23.5m),
setting a record per carat for coloured diamonds.