Hair & Beauty Magazine

Rare Pink Diamond Sells for a Whopping $71.2 Million

By Moin Khan @moindpfoc

A giant 59.6 carat diamond known as the “Pink Star” was sold for $71.2 million at a Sotheby’s auction in Hong Kong. This is the highest price any gem has fetched at an auction.

According to reports, this breathtaking gem was purchased by Hong Kong-based jewelry company Chow Tai Fook. Previously, this gem was sold at a higher price at an auction in Geneva. The deal however fell apart soon after the buyer defaulted.

Rare-Pink-Diamond
Image Credit : Nbcnews.com

Considered to be the largest internally flawless pink diamond that the Gemological Institute of America (GIA) has ever graded, the “Pink Star” was reportedly sold within 5 minutes of bidding. Sotheby’s Asia Chairwoman Patti Wong stated, “We’re very happy. I know there was a lot of talk about the economy in China not being as positive as it was a few years ago, but the results from its jewelry auction Tuesday, which included nearly 200 other lots, were very strong.” She added, “We’re very, very confident that all three bidders had the financial capability, and of course the buyer definitely had the financial capability.”

Prior to this, the most expensive diamond sold at an auction was the “Oppenheimer Blue”.  This gem is regarded to have been sold at 56.8 million Swiss francs last May. The previous auction record for a pink diamond was $46.2 million for “Graff Pink”.

The “Pink Star” was mined in Africa in 1999. Originally, the gem weighed 132.5 carats as a rough diamond. It was later meticulously cut and polished for over a period of 2 years. Chow Tai Fook has renamed the alluring gem to “CTF Pink Star” in memory of the company’s founder.


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • IIIT Delhi Placement Analysis

    IIIT Delhi Placement Analysis

    IIIT Delhi is a Delhi based technical university which is creating the buzz for last few years in the country in terms of placement, education culture, faculty... Read more

    6 hours, 42 minutes ago by   Ssankarr
    TECH
  • Heavy Rockers, Ozone Mama, Announce New Headlining European Tour and Welcome...

    Heavy Rockers, Ozone Mama, Announce Headlining European Tour Welcome Singer

    Big things are bristling on the horizon for Ripple Music's, Ozone Mama!After releasing their critically acclaimed, best-selling album, "Cosmos Calling" with... Read more

    9 hours, 43 minutes ago by   Ripplemusic
    ENTERTAINMENT, MUSIC
  • Train Travels: Malaysia to Thailand

    Train Travels: Malaysia Thailand

    I have now covered this route a bunch of times through the years, having travelled overland from as far as Singapore, up to the... Read more

    10 hours, 3 minutes ago by   Allanmwilson
    DESTINATIONS, EXPAT, TRAVEL
  • Random Bits of Nature (Snake Warning)

    Random Bits Nature (Snake Warning)

    A very tiny toad -- less than in inch. Blacksnakes kill by constriction. This was an ex-chipmunk by the time I saw it. Read more

    11 hours, 13 minutes ago by   Vickilane
    CREATIVITY, PHOTOGRAPHY
  • Duck Duck Go Founder Asks Google to Sell Them Duck.com

    Duck Founder Asks Google Sell Them Duck.com

    So there was an interesting article on CNET today about Duck.com. Google acquired the domain back in 2010 when they acquired ON2. But there is confusion, most... Read more

    11 hours, 45 minutes ago by   Worldwide
    BUSINESS, TECH
  • Concert Review: A Grand Night for D Major

    Concert Review: Grand Night Major

    Michael Tilson Thomas conducts the National Youth Orchestra.</> by Paul J. Pelkonen The players wore red pants: The National Youth Orchestra.Photo © 2018... Read more

    17 hours, 17 minutes ago by   Superconductor
    CULTURE, THEATRE & OPERA
  • OMG - OH My Greenery 24x7

    Greenery 24x7

    Here OMG stands for Office, Home, Market Yard, and Ground. These places by the human being created to secure their social activities. Mostly human destroy the... Read more

    17 hours, 32 minutes ago by   Saurabh Verma
    A-CLASSER