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The 59.6-carat Pink Star, reportedly the largest internally flawless fancy vivid pink diamond ever graded by that the Gemological Institute of America. (Photo Credit: Sotheby's)



  59-carat pink stone could fetch highest-ever price paid for diamond at auction


October 14, 2013


The eyes of the market will fall on Geneva on November 13, when Sotheby's holds its Magnificent Jewels sale in the city. The highlight of the event is a 59.6-carat internally flawless vivid pink diamond that is estimated will sell for more than $60 million. If that is the case, it will be the highest price ever paid for any diamond at auction.

Named the the Pink Star, the oval-cut diamond is the largest internally flawless fancy vivid pink diamond ever graded by the Gemological Institute of America. It is a Type IIa diamond, and is mounted in a ring. The identity of its owner has not been made public.

Unlike many of the other pink diamonds that were sourced in the Western Australian Argyle mine, the Pink Star was cut and polished from a 132.5 carat rough diamond mined by De Beers in Africa in 1999. Sotheby's reported that it does not have precise information on the exact origin.

The highest price for a diamond at auction to date also involved a pink stone. Called the "Graff Pink", it was a 24.78-carat fancy intense pink diamond that was bought the London dealer Laurence Graff in 2010 for 45.44 million Swiss francs, which then were worth $45.75 million.

Sotheby's is hoping for better luck than it had with a 7.59-carat fancy blue colored diamond called the Premier Blue at in sale in Hong Kong on September 7. It earlier had been estimated that the stone would fetch about $19 million, or $2.5 million per carat, making it the highest price per carat ever paid for a fancy blue diamond. But it failed to reach the reserve price and was withdrawn from the auction.

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