Free Republic

A 170-carat pink diamond – dubbed The Lulo Rose – was discovered at the Lulo mine in the country’s diamond-rich northeast and is among the largest pink diamonds ever found, the Lucapa Diamond Company said in a statement to investors. The “historic” find of the Type IIa diamond, one of the rarest and purest forms of natural stones, was welcomed by the Angolan government, which is also a partner in the mine. The diamond will be sold at international tender, likely at a dazzling price. Although The Lulo Rose would have to be cut and polished to realize its true...

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.