Formerly known as the Pink Star diamond, the CTF Pink became the most expensive diamond in the world yesterday, after selling for an astounding US$71.2 million (S$99.5 million) at a Sotheby’s Hong Kong auction. It was bought by Hong Kong jeweller Chow Tai Fook, through a telephone bid placed by the brand’s chairman Henry Cheng Kar-Shun. The diamond was named in memory of Cheng’s late father and company founder Cheng Yu-Tung, and its purchase marks the jeweller’s 88th anniversary.

The sale also makes the 59.60-carat, oval mixed-cut sparkler the highest priced item ever sold at auction in Asia. Initially expected to fetch (only) S$83.8 million, the CTF Pink is the largest Internally Flawless fancy vivid pink diamond ever graded by the Gemological Institute of America. It is the latest addition to Chow Tai Fook’s impressive gemstone collection, which includes the massive 507-carat Cullinan Heritage, a rare rough diamond that cost US$35.3 million (S$49.3 million) when the jeweller bought it in 2010.

the pink star world's most expensive diamond
The newly christened CTF Pink.

It’ll probably take us plebeians several lifetimes to afford anything close to the world’s most expensive diamond, but who says we can’t dream? From a private islands to fighter jets, here are 5 things one can buy with S$99.5 million.

(Main photo: Metro 1/ Mansion Global; Featured photo: Lamborghini)