Most expensive diamond sold at auction: The Pink Star breaks Guinness world record (VIDEO)
HONG KONG, China -- The 59.60-carat pink diamond Pink Star diamond has become the world's most expensive gemstone, selling at auction for $71.2 million (£57.3 million) including buyer's premium,
according to the World Record Academy.
Photo: The Pink Star diamond sells for $71.2 million, becoming the world's most expensive gemstone - and is renamed the CTF Pink Star. Photo: Sotheby's (enlarge photo)
The Guinness World Records world record for the most cut diamonds set into one ring is 3,827 in the "Peacock Ring" which was created by Savio Jewellery (India), as verified on 4 September 2015. The Peacock Ring weights 50.42 g in total, with an estimated market value of £1,778,879 ($2,744,525) on the date of verification. The diamonds used in the ring have a combined carat value of 16.5.
Guinness World Records also recognized the world record for the Most expensive diamond per carat, set by Blue Moon of Josephine, a 12.03-carat cushion-shaped internally flawless fancy vivid blue diamond, which sold for US$48,468,158 (CHF 48,634,000; £31,939,478; €45,238,998), including commission, at Sotheby's auction, in Geneva, Switzerland, on 11 November 2015.
The previous world record price for a Pink diamond belongs to the 24.78-carat Graff Pink which sold for £29million in 2010.
After bidding from three clients, the diamond was sold to jewellery retailer Chow Tai Fook, who was on the telephone to Sotheby's Asia CEO Kevin Ching, for a hammer price of 490 million Hong Kong dollars ($63 million).
The sale total was 553 million Hong Kong dollars once the buyer's premium was added. The buyer later renamed the diamond the CTF Pink.
The Pink Star was cut from a 132.5-carat rough diamond mined by De Beers in Africa in 1999. It took two years of meticulous cutting and polishing to hone it into its current oval shape.
"It is fitting that the owner of the most prestigious jeweller in Greater China should today break the record for the most valuable item ever sold in Asia as well as the most valuable diamond ever sold at auction - now appropriately named the CTF Pink Star" - said Sotheby's President and CEO Tad Smith.
The Pink Star (renamed the CTF Pink Star), a 59.60-carat oval mixed-cut pink diamond, is the largest Internally Flawless Fancy Vivid Pink diamond that the Gemological Institute of America (GIA) has ever graded.
It has received the highest colour and clarity grades from the GIA for pink diamonds and has been found to be part of the rare subgroup comprising less than 2% of all gem diamonds - known as Type IIa: stones in this group are chemically the purest of all diamond crystals and often have extraordinary optical transparency.
Mined by De Beers in Africa in 1999, the 132.5-carat rough diamond was meticulously cut and polished over a period of two years and transformed into this stunning gemstone.