An ultra-rare 59.60-carat oval mixed-cut fancy vivid pink internally flawless diamond, mounted on a ring, smashed world auction records when it sold for US$71 million in Hong Kong.
According to Sotheby’s, Chow Tai Fook Jewellery Group Ltd acquired the Pink Star by means of telephone bidding placed by Dr. Henry Cheng Kar-Shun, chairman of the company.
The diamond was subsequently renamed “CTF Pink Star.”
“It is fitting that the owner of the most prestigious jeweller in Greater China should break the record for the most valuable item ever sold in Asia as well as the most valuable diamond ever sold at auction,” noted Tad Smith, Sotheby’s president and CEO.
David Bennett, worldwide chairman of Sotheby’s Jewellery Division, commented, “I am delighted that this magnificently beautiful diamond has been rightfully crowned the most valuable gemstone ever sold at auction. The price has more than doubled the record for a fancy vivid pink diamond that we set just last year in Geneva.”
The CTF Pink Star joins a number of outstanding stones in the collection of Chow Tai Fook including the Aurora Green, a 5.03-carat vivid green diamond acquired in 2016 for US$16.8 million, an auction record for a green diamond, and the Cullinan Heritage, an exceptionally rare 507-carat rough diamond acquired for US$35.3 million in 2010 that was cut and polished over three years to create “A Heritage in Bloom,” a unique masterpiece of diamond jewellery.
The CTF Pink Star is the largest internally flawless fancy vivid pink diamond that the Gemological Institute of America (GIA) has ever graded. It has received the highest colour and clarity grades from the GIA for pink diamonds and has been found to be part of the rare subgroup comprising less than 2 percent of all gem diamonds known as Type IIA – stones in this group are chemically the purest of all diamond crystals and often have extraordinary optical transparency.
Mined by De Beers in Africa in 1999, the 132.5-carat rough diamond was meticulously cut and polished over a period of two years and transformed into this stunning gemstone.