Pink Star diamond fetches world record price at Sotheby’s - and renamed Pink Dream

The other day we published a post about the would be auction of the 'Pink Star' diamond and it was speculated that it would fetch a price of £28.5 million.

But the 59.60-carat diamond measuring 2.69cm by 2.06cm (1.06 inches by 0.81 inches) and set on a ring has been sold for $83m (£52m) at auction in Geneva at Sotheby’s - a record price for a gemstone.

The Pink Star was sold to Isaac Wolf, a well known New York diamond cutter who has renamed it the Pink Dream.

The winning bid surpasses the $46.2m paid for the Graff Pink diamond three years ago, which was half the size of the Pink Star.

According to the auctioneer, the Pink Star was mined by De Beers in Africa in 1999, but it did not say which country.

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Pink Star expected to to sell for £37 million

The 59.60-carat pink sparkler diamond will be put up for auction today at Sotheby's in Geneva and is expected to break the previous record of £28.5 million.

If this so happens, it will become the most expensive diamond of the world ever sold. Experts hope it will break the £28.5 million record set by the Graff Pink diamond three years ago, which is half the size of the Pink Star.

The 59.60-carat Pink Star was polished and cut over two years and is expected to fetch over £37 million at the Sotheby's auction in Geneva.

Cut in a sleek oval shape, the diamond is the largest internally flawless Fancy Vivid pink diamond ever graded by the Gemological Institute of America.

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