Most Expensive Diamond in the World
The most expensive diamond in the world is the Pink Star, a 59.60 carat internally flawless vivid pink diamond that sold at auction for $71.2 million in Hong Kong in April 2017, setting the record for the highest price per carat ever paid for any gemstone at the time of sale. The record price was achieved by Chow Tai Fook Jewellery, a Hong Kong based jeweler, through Sotheby's Hong Kong, and the sale confirmed the diamond's status as the most expensive diamond ever sold at auction as of the latest available public data.
The Pink Star is a type IIa diamond, meaning it is composed almost entirely of carbon with very few impurities, and it was originally mined by De Beers at the Letseng mine in Lesotho in 2013 as a rough stone weighing 132.5 carats. The rough was cut and polished by the Antwerp based company Alrosa over a period of more than two years, resulting in an oval shaped gem that measures approximately 26.9 by 23.3 millimeters, and the diamond is internally flawless with a vivid pink color grade, making it one of the rarest and most valuable gemstones ever discovered.
Record Auction Details and Ownership
The Pink Star was offered as lot number 350 at Sotheby's Magnificent Jewels and Jadeite auction in Hong Kong on April 3, 2017, and it was sold for HK$553 million, or approximately $71.2 million USD, inclusive of the buyer's premium, which translates to roughly $1.19 million per carat. The auction was conducted in a competitive bidding process, and the winning bid was placed by a representative of Chow Tai Fook, which is one of the largest jewelry retailers in Asia and a publicly traded company listed on the Hong Kong Stock Exchange.
After the sale, the Pink Star was renamed CTF Pink Star in reference to the parent company of Chow Tai Fook, and the diamond was displayed at various high profile events and exhibitions to showcase its exceptional size and color. The record price was widely reported by financial and luxury news outlets, and it surpassed the previous auction record for any gemstone held by the Graff Pink, a 24.78 carat pink diamond that sold for $46 million in 2010, as documented by major auction houses and industry analysts.
Comparison With Other High Value Diamonds
The Pink Star's price per carat exceeds that of other famous diamonds such as the Oppenheimer Blue, a 14.62 carat vivid blue diamond that sold for $57.5 million in May 2016 at Christie's Geneva, and the Blue Moon of Josephine, a 10.06 carat vivid blue diamond that sold for $48.5 million in November 2015 at Sotheby's Geneva, both of which were among the most expensive diamonds sold at auction before the Pink Star's record sale.
Other notable high value diamonds include the Winston Blue, a 13.22 carat flawless blue diamond that sold for $23.8 million at Christie's Geneva in May 2014, and the Graff Pink, a 24.78 carat fancy intense pink diamond that sold for $46 million at Sotheby's Geneva in November 2010, and these sales illustrate the premium that colored diamonds command in the global market, especially when they achieve high clarity and vivid color grades as confirmed by independent gemological laboratories.