Posted on 04/04/2017 8:26:00 AM PDT by 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.
(Excerpt) Read more at telegraph.co.uk ...
After bidding from three clients, the diamond was sold to jewellery retailer Chow Tai Fook,.....................
It’s a freaking rock.
I wish I had money like that to blow on something so stupid. But who knows, it may be used for some precision scientific instrument, hopefully not as some decoration jewelry.
"...Pink Star diamond sells for $71.2M..."
It will end up on the finger of some Chinese factory owner’s current mistress.
A nice pink topaz that size would cost maybe $150 and look just as pretty under almost any conditions.
“It will end up on the finger of some Chinese factory owner’s current mistress.”
Because Chinese guys are allowed to be capitalists. If Trump bought this thing they would try to impeach him.
I was in the bidding but I stopped at $60 million, that is the most I would pay for a diamond.
These things are getting rather over-priced.
“I wish I had money like that to blow on something so stupid”....
Instead, I wish I had that rock to sell. Can’t begin to imagine all that I could/would do with the money.
I wish I had the money, but I still wouldn’t buy this.
My understanding is that guys like this, who have their level of wealth and who buy these things, aren’t too concerned about paying too much because it is better to have paid $71 million for a gemstone that falls to $3 million in value, because it’s a bird in the hand thing. More secure than cash.
Seeing as the pictures have it as a ring, I guess your wish for it usage will not be realized.
Seeing as the pictures have it as a ring, I guess your wish for its usage will not be realized.
> I was in the bidding but I stopped at $60 million, that is the most I would pay for a diamond. <
The bidding as today? Heck, I missed it. And I had set aside $80 million for that diamond. I had some Domino Pizza coupons I was willing to throw in as well.
There is no way it will fall to 3 million or even 30 million. It will only increase in value, because paper money is constantly devalued over time. That is why they are willing to spend paper for a rare valuable gemstone. It will never devalue. As it stands it is a one of a kind, and for the foreseeable future that will stand to be the case.
My limit was $71 mil. Soooo disappointed!
[[Can’t begin to imagine all that I could/would do with the money.]]
Here- lemme help you- lemme ‘borrow’ 68.2 million- i have um bills to pay- yeah that’s it bills
Wow! That is a high end shiny rock!
I’m not intending to state on whether the diamond will increase or decrease in value. I’m only saying that they are using the principle of buying solid objects that will always have value, rather than keep their wealth in paper money. I was using a bit of hyperbole to make the point.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.