The “Pink Star” Sells for Record $83 Million at Sotheby’s Geneva

by queenofcolordiamonds

Color diamond auctions are always exciting. The gorgeous diamonds, the anticipation, the excitement.  However, when history is made at auction, that is an entirely different story.

In 2010, Laurence Graff purchased a 24.78 carat fancy intense pink diamond that sold for a record $45.75 million which was at the time, a record price for a color diamond at auction.  It was renamed “The Graff Pink

Fast forward to September 2013 when it was announced that the “Pink Star“, a 59.60-carat, internally flawless fancy vivid pink, type IIa diamond would hit the auction block with a pre-estimate of $60 million.  I knew right then and there that this was history in the making.  The Pink Star being double the size of “The Graff Pink” and a higher color grade (vivid) that it would go for a lot higher than $60 million.  Not to brag, but I actually predicted $80 million on our radio show in September.  I figured that even if the pre-estimate was reached it would automatically replace Graff’s record for the highest price ever paid for a color diamond at auction.

switzerland-pink-star-diamond

A Sotheby’s employee shows The Pink Star diamond weighing 59.6 carat, during a preview at Sotheby’s, in Geneva, Switzerland. The Pink Star, one of the world’s natural treasures, sold for more than $83 million at auction. (Martial Trezzini,Keystone/Associated Press)

When the diamond sold for $83 million dollars (including buyers premium) by diamond-cutter Isaac Wolfs this past Wednesday evening, it truly was a historic sale making headlines around the world.  “Frankly when I sold the Graff three years ago, I thought it would be a record for a very long time. Tonight’s price is really quite extraordinary three years later,” Sotheby’s auctioneer David Bennett said

The Pink Star.  A 59.60-carat, internally flawless fancy vivid pink, type IIa diamond.

The Pink Star. A 59.60-carat, internally flawless fancy vivid pink, type IIa diamond

More About the Pink Star diamond: 

Originating from a 132.50-carat rough diamond recovered by De Beers in 1999 it was cut and polished by Steinmetz Diamonds.  It took just over two years to cut and polish and was first unveiled as the Steinmetz Pink in Monaco in 2003 and then it was sold and renamed in 2007.

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