Come 4 April, the Pink Star — the largest Internally Flawless Fancy Vivid pink diamond ever graded by the Gemological Institute of America (GIA) — will go under the hammer at a Sotheby’s auction in Hong Kong. The glittering, oval mixed-cut rock weighs a hefty 59.60 carats, and is expected to fetch over US$60 million (S$83.8 million).
This isn’t the first time that the Pink Star is going up for auction. Back in 2003, it was sold at Sotheby’s Geneva sale for a record-breaking US$83 million (S$116 million) to diamond cutter Isaac Wolf, who represented a group of investors. In a turn of events, Wolf defaulted on his payment, and the auction house ended up acquiring the diamond.
What sets the Pink Star apart from other sparklers, is that it has been accorded the highest colour and clarity grades from the GIA for pink diamonds, and is in the Type IIa group of stones. The latter comprises less than 2% of all the world’s diamonds, and its rocks are chemically the purest of all diamond crystals. They also often have extraordinary optical transparency.
The Pink Star was first discovered in 1999 by De Beers in Africa, as a 132.5-carat rough diamond. It was then cut and polished over two years to produce its magnificent visage. We can’t wait to see how much it sells for, at the upcoming auction.
(Main photo credit: Ian Gavan/Getty Images for Sotheby’s)