Sold: the Pink Star diamond sells for $71.2 million, becoming the world's most expensive gemstone

UK Telegraph ^ | April 4, 2017 | Sarah Royce-Greensill

[C19fan]

The Pink Star diamond has become the world's most expensive gemstone, selling at auction today for $71.2 million (£57.3 million) including buyer's premium.

The 59.60-carat pink diamond is the largest Internally Flawless, Fancy Vivid pink diamond ever graded by the GIA, and sold for above its estimate of $60 million (£48.3 million) at Sotheby's in Hong Kong.

It breaks the record previously held by the Oppenheimer Blue diamond, which sold for $57.5 million at Christie's in Geneva last May. It has also become the highest price item ever sold at auction in Asia.

[VietVet876]

The Greater Fool Theory proven again. I love watching the collector car auctions where every few minutes another greater fool steps up to the plate to the applause of the crowd and auctioneers.

[FroggyTheGremlim]

Matthew 13:45-46

[DannyTN]

[alternatives?]

More importantly, is there a small image of the pink panther inside?

[SgtHooper]

But “flawless” in this case is the same as “100% juice” in the juice market. IMHO.

[bgill]

I got one just like that out of a gumball machine.

[Andy'smom]

It looks just like a pink topaz!

[Moltke]

It’s still only 12 grams (1 carat = 0.2 grams) of ‘entitled’ carbon. You know, the carbon that ordinary black soot carbon says it should ‘check its privilege’. (What does carbon soot go for these days, per ton?)

[Tax-chick]

The world is fully of pretty things that don’t cost much.

[Calvin Locke]

(What does carbon soot go for these days, per ton?)

Carbon Black is used in tire manufacture, among other things.

The market's in the low teens, in $Billions that is, world-wide.

[Swordmaker]

I gave my girl friend this 3 ctw diamond ring with the main stone a 1 carat pink diamond for Valentines Day:

Pink diamonds are very rare, but not as rare as the deeper shade of red.

[Ax]

“Dead Ant, dead ant....”

[Moltke]

Yes, high volume market no doubt, and the price per ton - or per carat for that matter - is...?

[Calvin Locke]

It apparently varies. For the low end, say $0.10/kg for convenience. So that's what, 5000 carats for 10¢, raw material-wise?

Yep, a lot of work went into making those 60 carats worth $70M...

[Robert DeLong]

Oh okay.