‘Pink star’ diamond sells for world record 83 million dollars in Geneva

GENEVA, Nov 14:  The “Pink Star”, a flawless pink diamond the size of a plum, sold for 76.3 million Swiss francs (83.02 million dollars) in Geneva, a world record price for a gemstone at auction, Sotheby’s said.
“The diamond was bought by Isaac Wolf and the diamond has been renamed The Pink Dream,” said Matthew Weigman, Sotheby’s worldwide director of sales communications.
Wolf, a New York-based diamond cutter, was represented by a bidder in the room and Sotheby’s said the final sale price included the “buyer’s premium,” or commission fees.
In all, four people, including two Asian clients, bid on the oval-shaped diamond, which was mounted on a ring and weighed 59.60 carats, he said.
As Sotheby’s auctioneer David Bennett brought down the hammer in the Geneva salesroom, applause erupted. “You’ll forgive me,” he said, as the theme song from the “Pink Panther” was played.
The Pink Star was the star lot at Sotheby’s jewels sale in Geneva, held in a heavily guarded hotel showroom.

It was the highest jewellery sale total for a single auction in history – 199.5 million dollars, Sotheby’s said.
“This was a really historic sale. We broke a number of records,” Bennett told reporters.
“The pink diamond, I have no hesitation in saying, is a truly amazing royal stone, fit for any royal collection, fit for any museum collection.
“There is no stone of that size and colour known, no other stone.”
Noting that the diamond’s pre-sale estimate was $61 million, Bennett said: “It surpassed our estimate. It’s a large amount of money in itself, but I don’t think this stone has a price.”
The previous record was held by the “Graff Pink”, a 24.78 carat fancy intense pink diamond bought in 2010 by Laurence Graff, a London-based jeweller known as “The King of Diamonds”, for 45.44 million Swiss francs, or 45.75 million dollars at the time.
“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,” Bennett  said.
“It means the three top prices paid for gemstones are all pink diamonds.”


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