LONDON, United Kingdom (Reuters) — A 59.60-carat diamond generally known as “The Pink Star” is returning to public sale subsequent month and will fetch a record $60 million, three years because it was offered for much more – just for the client to pull out of the deal. The diamond was introduced by Sotheby’s in London forward of the public sale in Hong Kong on April four.
In November 2013, a Geneva public sale of the stone fetched a world record $83 million however the purchaser, New York-based diamond cutter Isaac Wolf, couldn’t pay up and defaulted.
However, after some extra profitable auctions of coloured diamonds lately, the public sale home mentioned that now was a good time to strive once more.
“The last few years we’ve had colored diamonds perform extremely well, many new records been created at auction for the colored diamonds, pinks and blues mainly, so we thought it was a good time to bring it to the market,” David Bennett, worldwide Chairman of Sotheby’s Jewellery Division, advised Reuters.
In 2015 the “Blue Moon of Josephine” offered for $48.5 million in Geneva. At 12.03 carats, it set a price-per-carat record.
“The Pink Star” is the biggest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America (GIA), the public sale home mentioned, but the glowing stone is nonetheless sufficiently small to match onto a ring.
Sotheby’s mentioned that the mixed-cut diamond was initially mined by De Beers in 1999 in Botswana as a 132.5 carat tough diamond earlier than being minimize and polished.
Its refined kind is now set to be essentially the most worthwhile polished diamond ever supplied at public sale.
“The extraordinary size of this 59.60-carat diamond, paired with its richness of color, surpasses any known pink diamond record in history,” Bennett mentioned.
Bennett mentioned the present record for a pink diamond was held by the “Graff Pink.” At 24.78 carats it is half the scale of The Pink Star and was offered in Geneva for $46.2 million in 2010.