59.6-carat Fancy Vivid Pink Star Diamond to be Auctioned Today

Forbes reported that the fancy vivid Pink Star diamond, a 59.6-carat stone, is set to be auctioned today at Sotheby’s Magnificent Jewels sale in Geneva. Valued at over $60 million, it is the most expensive diamond ever to be offered at auction, according to Sotheby’s. It is also the largest internally flawless fancy vivid pink diamond that the Gemological Institute of America has ever graded.

As quoted in the market news:

‘It ticks all the boxes in terms of perfection,’ says David Bennett, chairman of Sotheby’s international jewellery division for Europe and the Middle East and also chairman of Sotheby’s Switzerland, who will preside over the sale. When the diamond went on show in October ‘there were gasps from many of the people who came to see it’, he says.

Mined in Africa as a 132.5-carat rough diamond by De Beers in 1999 and cut and polished for two years by Steinmetz Diamonds, it was unveiled and exhibited before being sold privately in 2007. A diamond such as the Pink Star comes up ‘maybe twice in a lifetime’, says Russell Shor, a GIA senior industry analyst. ‘You can’t even say it is one in a million – it is one in an X-number of million.’

Click here to read the full Forbes report.