Massive Pink Diamond Heading to Sotheby’s Auction
September 25th, 2013 by Noam Flint
Diamond auctions have been receiving their fair share of attention lately, thanks in large part to the dazzling array of stones going up for sale. This trend doesn’t look to be slowing down, especially after one auction house announced the inclusion of a massive pink diamond in an upcoming sale.
The Pink Star
Known as “The Pink Star,” the colored diamond offered by Sotheby’s auction house is making waves within the industry. This pink diamond weighs in at 59.6 carats and features an oval cut that highlights its vivid color. It is mounted on a ring, although the public’s focus is not on the setting.
The ‘Pink Star’ – 59.6 carat Flawless Vivid Pink Diamond. (Photo by Sotheby’s)
Many diamond lovers are noting the similarities between The Pink Star and the fictitious Pink Panther, the gem that spurred on numerous cinematic adventures throughout the 20th century. However, the Pink Panther had a flaw that looked like a lunging cat – hence its name – whereas The Pink Star is internally flawless, CNN reported.
In fact, the auction house claims The Pink Star is the largest internally flawless vivid pink diamond that the Gemological Institute of America has ever graded. It is incredibly rare for any diamond to be internally flawless, let alone a colored diamond, which only makes this gem more valuable.
A show-stopping item
This stunning pink diamond is going on the auction block at Sotheby’s sale in Geneva, Switzerland, this November. Sotheby’s claims that The Pink Star will be the most valuable diamond to ever be offered at an auction – and its sale price should prove it. Experts predict that the pink diamond could demand an asking price of $60 million, which would be the most expensive sale in history. The current record is held by the 24.78-carat “Graff Pink,” which commanded $45.75 million when it was auctioned in 2010, Reuters reported.
“It is full of fire and light. If it sells, it will be a record price for any gemstone so far at auction,” David Bennett, chairman of Sotheby’s jewelry division in Europe and the Middle East, told the news source. “The top end in all categories in auction prices are very, very strong. People are seeking the very rare, the exceptional, the outstanding. This stone is.”
From the collection
The Pink Star has been in the spotlight for some time. Since being mined in 1999 and polished for two years in the early 2000s, the diamond has gone on display at the Smithsonian Institute in Washington, D.C., as part of its “Splendor of Diamonds” exhibit. There it shared the adoration of the public with a few other extraordinary stones, including the De Beers Millennium Star, the Allnatt diamond and the Moussaieff Red, Bloomberg reported.
It was also showcased in Monaco in 2003 before being sold to a private collector in 2007, when it lost the moniker “The Steinmetz Pink.” The diamond has been under the radar since then, but its re-emergence has made a splash for fans of pink diamonds, and it is sure to stay in the spotlight well past its November sale.
