RapNet


Rapaport News

 

Polished Markets

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Pink Star Diamond Back on the Auction Block

Mar 20, 2017 6:30 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Sotheby’s will auction the Pink Star diamond in Hong Kong this April, more than three years after its previous sale fell through.

The oval, 59.60-carat, internally flawless, fancy vivid pink diamond is expected to exceed $60 million, which would rank it among the most valuable diamonds ever sold, according to Sotheby’s.

“At a time of unprecedented demand for the finest in colored diamonds, I am delighted to be bringing this magnificent stone back to the market,” said David Bennett, chairman of Sotheby’s jewelry division. “The extraordinary size of this 59.60-carat diamond, paired with its richness of color, surpasses any known pink diamond recorded in history.”

The Pink Star is the largest internally flawless, fancy vivid pink diamond ever graded by the Gemological Institute of America, according to Sotheby’s. It’s more than twice the size of the 24.78-carat Graff Pink, which set the current record price for a pink diamond when it sold for $46.2 million in 2010, the auction house added.

The Pink Star surpassed the Graff Pink in November 2013 when Sotheby’s sold it to diamond cutter Isaac Wolf for a record $83.2 million. However, the stone was returned to Sotheby’s after Wolf and his investors defaulted on the payment.

Sotheby’s entered into a partnership agreement in June last year with Diacore and Mellen Diamonds, both New York-based diamond manufacturers, for shared ownership of the diamond. The Pink Star has been held in Sotheby’s inventory at a value of $72 million.

The diamond will be on display at the Hong Kong Convention and Exhibition Centre from March 29 to April 3 before going under the hammer on April 4. 
Tags: auction, Graff Pink, Pink Diamond, pink star, Rapaport News, Sotheby's
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
Jan 23, 2020
Polished sentiment positive following steady holiday sales. Strong interest...
JVC Honors GIA’s Susan Jacques
Bonhams Expands Global Jewelry Team
GIA Suspends Sealing Service
Rapaport LogoRapaport Weekly Market Comment
Jan 16, 2020
Polished trading stable with selective demand. Dealers focused on filling...
Belgium Shipments Hit 10-Year Low
GIA Advertises Origin Reports in Times Square
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us