Fancy Vivid Pink Diamond Expected to Sell for Over $60 Million

Bloomberg reported that a 59.6-carat pink diamond, set to be sold in Geneva by Sotheby’s on November 13, is expected to go for over $60 million. The stone is the “largest internally flawless fancy vivid pink diamond” that the Gemological Institute of America has ever graded.

As quoted in the market news:

Entered by an unidentified seller, the ‘Pink Star’ was mined by De Beers in Africa. It was cut and polished by Steinmetz Diamonds for two years before being exhibited in Monaco in 2003.

That year, it was included in the ‘Splendor of Diamonds’ exhibition at the Smithsonian Institutionin Washington, alongside the De Beers Millennium Star, the Allnatt diamond, and the Moussaieff Red.

The diamond, initially known as ‘The Steinmetz Pink,’ was sold privately in 2007 for an undisclosed amount and subsequently renamed.

The ‘Pink Star’ is more than twice the size of the 24.78-carat ‘Graff Pink,’ which sold for a record $45.6 million at Sotheby’s in Geneva in 2010.

Click here to read the full Bloomberg report.