Somebody said it well “Diamonds are women’s best friend”. Well, yes it’s absolutely correct. Jewellery is the beauty remark of a woman. But diamond is a jewellery which shows romance, uniqueness, love and passion to a woman. Diamond pieces are not only occasional wear for ladies but the happen to be a part of legacy she wants to leave behind for the coming generation. Well, the hardest metal on this earth is the most expensive too. White diamond are common nowadays. Additionally, people are getting attracted towards coloured diamonds now which are rare to find or occur. Because of their rareness in occurring they have become the most expensive gem and of all the coloured diamonds pink diamond is the most costly.

Why Pink Diamond is so expensive?

“Pink Star” is the largest fancy vivid pink diamond ever graded by the Gemological Institute of America. Diamonds that are graded “fancy vivid” are the most precious and desirable, according to the Sotheby’s website.

The plum-sized South African sparkler went under the hammer in Geneva and was snapped up by a mystery buyer. Additionally, he flawless 59.6 carat pink diamond is the largest in its class ever graded by US experts.

A rare pink diamond known for its oval shape and vividly pink hue became the most expensive gemstone ever sold at an auction on Tuesday, fetching a record sale price of $71.2 million in Hong Kong. Moreover, the extremely rare diamond was held by Sotheby’s for the past three years.

David Bennett, of the auctioneers Sotheby’s, said: “It’s really extraordinarily rare. Very, very few of these stones have ever appeared at auction.”

pink diamond

The oval-cut rock, found in 1999, measures 2.69 by 2.06cm and weighs almost 12g.

Mr Bennett added: ”The demand for exceptional diamonds keeps on growing.”

            Auction sale

Now, the 59.6-carat “Pink Star” is sold to the highest bidder at the Sotheby’s auction at the Hong Kong Convention and Exhibition Center.

“Pink Star’s buyer is Hong Kong-based jewelry empire Chow Tai Fook, which outbid two other telephone buyers. Founded in 1929, the family-owned conglomerate owns a chain of jewelry shops in China and is one of the world’s largest jewelers. Last month, it acquired Alinta Energy Holdings, an Australian-based energy company, for $3.1 billion,according to the reports.

 

pink diamond

This is not the first time the flawless pink diamond has been up for sale. In 2013, “Pink Star” was sold at a Sotheby’s auction in Geneva for a much higher price: $83 million. The sale fell through after the buyer, New York-based diamond cutter Isaac Wolf, defaulted. Sotheby’s had to buy back the diamond for $60 million because it had guaranteed that sale price to the seller.
But, pink star remained in the auction house’s inventory.

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