Pink Star diamond sells for $102m

A model poses with a 59.60-carat mixed cut diamond known as the “Pink Star” ahead of it being auctioned. PICTURE: Reuters

Hong Kong
A 59.60-carat pink diamond sold for a record $US71.2 million ($102.05 million) in Hong Kong overnight to local jewellers Chow Tai Fook after a five-minute bidding war between three phone bidders.
The “Pink Star”, the largest internally flawless fancy vivid pink diamond so far graded by the Gemological Institute of America according to Sotheby’s, set “a new record for any diamond or jewel at auction”, the auction house tweeted.
The diamond failed to sell in November 2013. It fetched a record $83m but the buyer could not pay.
However, Patti Wong, chairman of Sotheby’s Asia, said the three bidders overnight had been vetted for this sale.
“All three bidders . . . have a longstanding relationship with the company and we were very, very confident that all three bidders had the financial capability and of course the buyer definitely had the financial capability,” she said.
“We’re not worried at all.”Reuters