‘Pink Star’ Precious Diamond Offers for Record $71.2 Million at Auction

Hong Kong: An amazing giant pink diamond has turned into the most costly gem at auction, bringing $71.2 million at Sotheby’s in Hong Kong on Tuesday.

An amazing 59.6 carat precious diamond setting a new world record for any precious stone or gem, as per the auction house.

The oval blended cut jewel crushed the $60 million pre-deal assess set by Sotheby’s the point at which it went on the piece.

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The winning bid came from Hong Kong jewelry firm Chow Tai Fook. The company’s chairman, Henry Cheng Kar-Shun, phoned in the bid.

Chow Tai Fook has renamed its new possession the CTF Pink Star in memory of the company’s founder and to commemorate the brand’s 88th anniversary.

In 2013, it sold for a record $83 million at a Sotheby’s sale in Geneva, however the purchaser, New York-based jewel cutter Isaac Wolf, defaulted on the arrangement. Sotheby’s wound up saddled with the costly diamond.

Previously, the record was held by the “Oppenheimer Blue,” bought for 57.6m dollars (around £46.2m) last May.

The gem is the largest flawless fancy vivid pink diamond ever graded by the Gemological Institute of America.

It took about two years to cut the Pink Star from an unpleasant precious stone. It initially showed up openly in 2003 and later turned out to be a piece of a display at the Smithsonian National Museum of Natural History, home of the acclaimed 45.52 carat blue Hope Diamond. It was additionally shown at the Natural History Museum in London.

 

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