'Pink Star' Diamond Sells at Auction

All eyes were on Hong Kong yesterday as the 'Pink Star' diamond hit the Sotheby's auction block.

The one-of-a-kind gemstone is a 59.60ct diamond that is the largest Internally Flawless Fancy Vivid Pink diamond the Gemological Institute of America (GIA) has ever graded. You can read more about its recent history here.

Following a relatively brief session of bidding between a few buyers, the hammer came down at 490 million HKD and the applause broke out. After some quick math, the final price was announced as $71.2 million USD, which gives the diamond the distinction of being the most expensive jewel ever sold at auction.

The winning bidder was immediately announced as Chinese jewelry company Chow Tai Fook, and the stone has been renamed the 'CTF Pink'. The company also recently acquired the 'Aurora Green', a 5.03-carat vivid green diamond, in 2016 for $16.8 million USD - an auction record for a green diamond.

Another chapter in the story of this remarkable stone!

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