Pink diamond sells for a staggering US$71M

Estimated read time 6 min read

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Consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis.” byline=”staff reporter” caption=”Hong Kong jewelry retailer Chow Tai Fook now owns the Pink Star diamond.” credits=”CHOW TAI FOOK”]

Pink diamond sells for a hefty US$71 million with world’s largest jeweler Chow Tai Fook of Hong Kong now owning rare gem

 

MANILA – A 59.60-carat pink diamond was bought for a whooping 553 million Hong Kong dollars or US$71 million in a Sotheby’s auction held in the Chinese city, making it the most expensive gem to be sold.

Hong Kong jewelry retailer Chow Tai Fook, the world’s largest jeweler, now owns the oval-shaped Pink Star diamond.



The gem has been renamed CTF PinkStar in memory of the founder of the jewel retailer and to mark the company’s 88th anniversary.

The pink polished diamond has dethroned the Oppenheimer Blue, which was sold for US$58 million in a Christie’s auction in Geneva, Switzerland last May.

Chow Tai Fook chairman Henry Cheng Kar-Shun phoned in the bid for his company.

The price offered by the Hong Kong jeweler though is lower than the price offered by a buyer when the diamond was put on the auction block way back in 2013.

New York-based diamond cutter Isaac Wolf offered US$83 million for the Pink Star in an auction held in Geneva but the sale did not push through after Wolf defaulted, prompting Sotheby’s to reclaim the gem.

According to a Bloomberg report, the Pink Star is said to be worth more than US$60 million and is the largest internally flawless diamond of its kind ever graded by the Gemological Institute of America.

The diamond’s color – fancy pink – is the highest grade and the purity of its crystals ranks among the top two percent in the world, the report also said.

A CNN report said it took nearly two years to cut the Pink Star from a rough diamond.

The pink diamond made its first public appearance in 2003 and was put on exhibit at the Smithsonian National Museum of Natural History. The gem was also displayed at the Natural History Museum in London. GAC/Expat Media[/expatmedia-article-content][/vc_column_inner][vc_column_inner][expatmedia-related-posts enable_pagination=”no” layout=”2-col” posts_query=”size:4|order_by:date|post_type:post|categories:73″ title=”MORE SHOPPING STORIES” thumb_size=”expatmedia-post-thumbnail”][/vc_column_inner][/vc_row_inner][vc_row_inner el_class=”col-md-4″][vc_column_inner][expatmedia-html custom_content=”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”][expatmedia-latest-posts read_more_text=”Read more →” posts_query=”size:10|order_by:date|post_type:post” title=”LATEST NEWS”][/vc_column_inner][vc_column_inner el_class=”border-box border-box-mwidth business–popular-ad”][expatmedia-guides-posts posts_query=”size:3|order_by:date|post_type:post|categories:73″ title=”POPULAR IN SHOPPING”][/vc_column_inner][vc_column_inner][vc_raw_html]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[/vc_raw_html][expatmedia-subscription title=”Subscribe”][/vc_column_inner][vc_column_inner el_class=”border-box border-box-mwidth business–popular-ad”][expatmedia-guides-posts page_link=”http://expatmedia.net/guides/” posts_query=”size:3|order_by:date|post_type:post|categories:2″ title=”Guides”][/vc_column_inner][vc_column_inner][svc_social_stream twitter_type=”@” twitter_num=”4″ skin_type=”template” grid_columns_count_for_desktop=”vcyt-col-md-12″ grid_columns_count_for_tablet=”vcyt-col-sm-12″ grid_columns_count_for_mobile=”vcyt-col-xs-12″ excerpt_length=”150″ loadmore=”no” title=”Twitter Post” twitter_id=”ExpatMediaUAE”][vc_raw_html]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[/vc_raw_html][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]

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