Editor’s Note
The sale of the ‘Pink Star’ diamond for a record HK$553 million underscores the enduring allure and immense value of the world’s rarest gemstones. This historic auction highlights not only a landmark transaction but also the extraordinary market for unique luxury assets.
The 56.9-carat pink diamond ‘Pink Star’ was sold for a record-breaking price of 553 million Hong Kong dollars (approximately 80 billion won) at an auction.
On the 4th (local time), the ‘Pink Star’ was auctioned at Sotheby’s in Hong Kong. After a bidding war among three telephone bidders, it was awarded to the Hong Kong jewelry retailer Chow Tai Fook for the highest price.
The final bid for the ‘Pink Star’ surpassed the previous record of 58 million dollars (approximately 68 billion won) set by the 14.62-carat blue diamond ‘Oppenheimer Blue’, owned by diamond industry magnate Philip Oppenheimer, which was sold at a Christie’s auction in New York last May.
The record set by the ‘Pink Star’ this time is lower than its 83 million dollar winning bid at a Sotheby’s auction in 2013. However, that auction was canceled because the winning bidder, New York diamond cutter Isaac Wolf, failed to pay.
Chow Tai Fook, one of the world’s largest jewelry retailers founded in 1929, has 2,000 stores across China.
The ‘Pink Star’ was discovered in Africa in 1999. It was crafted from a 132-carat rough diamond.
The ‘Pink Star’ took two years to cut and polish. It was publicly exhibited at the Smithsonian Museum in Washington, D.C., in 2003.
