November 14, 2013

Pink diamond sells at auction for record of $83.4 million

The sale comes a day after an orange diamond sold at for $35.5 million.

The Associated Press

GENEVA — An enormous diamond known as “The Pink Star” sold for more than $83 million at auction Wednesday night, far surpassing its expected price.

click image to enlarge

“The Pink Star” weighs 59.60 carats and took two years to cut to form.

The Associated Press

Sotheby’s says the sale the vivid and flawless 59.60-carat pink diamond is the highest price ever paid for a gemstone at auction.

Prior to the sale to the successful bidder, representing an anonymous buyer, the diamond was estimated to fetch more than $60 million. The bidding opened above $52 million, and it closed with the playing of the “Pink Panther” movie’s theme music.

The exact sale price of “The Pink Star” was $83.425 million. It had been introduced as “one of the most remarkable gems ever to appear at auction.”

The diamond is graded as a Type IIa, a rarity for a pink diamond, and it took Steinmetz Diamonds two years to cut it to form from a 132.5-carat rough diamond.

The sale came a day after the largest fancy vivid orange diamond sold at a Christie’s auction for $35.5 million.

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