Posted on October 15, 2013 by

59.60 Carat “Pink Star” Diamond To Go Under The Hammer in Next Month’s Sotheby’s Geneva Auction

Pink diamond devotees will get a nice jolt from the following bulletin: a 59.60 carat Fancy Vivid Pink Internally Flawless oval cut diamond is scheduled to go under the hammer at Sotheby’s auction in Geneva, Switzerland, on November 13. The “Pink Star” is the largest of its kind to ever be graded by the GIA and is the largest fancy vivid pink diamond that currently exists. With a pre-sale estimate of over $60 million, the “Pink Star” is expected to set a new record for gemstones and diamonds sold at auction.

 

The 59.60 carat Fancy Vivid Pink Internally Flawless “Pink Star” diamond is set to go on the auction block on November 13 via Sotheby’s in Geneva.
Photo: Reuters

 

59.60 Carat Pink Star Diamond in Sotheby’s Geneva Auction

 

The “Pink Star” was mined in Africa by De Beers in 2003 and weighed 132.5 carats as rough. Steinmetz Diamonds acquired the diamond and spent the next two years meticulously cutting and polishing it to perfection. Upon its completion, the “Steinmetz Pink,” as it was originally known, was exhibited in Monaco on May 29, 2003, and that same year was featured in the “Splendor of Diamonds” exhibition at the Smithsonian Institution in Washington, DC, alongside other heavy hitters like the De Beers Millennium Star, the Moussaieff Red and the Allnatt diamond.

 

The “Steinmetz Pink” was sold to an anonymous private buyer in 2007 and hence renamed the “Pink Star.” The amount paid is still unknown but it is apparent that ownership of the diamond has remained constant since its first sale and is being put up for auction by the same unidentified individual.

 

Its pre-sale estimate of more than $60 million is expected to trounce the current record set by the 24.78 carat “Graff Pink,” sold for $46.2 million by Sotheby’s Geneva in November 2010.
Photo: Reuters

 

The “Pink Star,” noted for its striking oval cut featuring a step-cut crown and brilliant-cut pavilion, boasts the highest quality, both in color and clarity, that a fancy colored diamond can attain. It belongs to that rarest of gem diamond classes as it is a Type IIa diamond – Type IIa diamonds make up less than 2 percent of all gem diamonds. All members of this species have the greatest chemical purity of all diamonds and frequently exhibit superior transparency. The “Pink Star” has been repeatedly lauded for achieving more than twice the weight of the 24.78 carat Fancy Intense Pink “Graff Pink,” which fetched $46.2 million at Sotheby’s Geneva in 2010 and shattered previous world records.

 

Visit our education section to learn even more about diamond investment value and the origin, history and color of fancy pink diamonds.


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One Response to 59.60 Carat “Pink Star” Diamond To Go Under The Hammer in Next Month’s Sotheby’s Geneva Auction

  1. Connie Siler says:

    OMG! Such a beautiful and unique ring!..Love the color, just sparkles..:)