Pink Diamond Sells for $83 Million, Breaks Sales Record

Rapaport reported that yesterday the Pink Star, a 59.6-carat, internally flawless fancy vivid pink diamond, sold for $83,187,381, or $1,395,761 per carat, at Sotheby’s Geneva-based Magnificent Jewels sale. That is new record for any diamond or jewel.

The diamond was purchased by Isaac Wolf, a diamond cutter, and has been renamed the Pink Dream.

As quoted in the market news:

In a salesroom exploding with anticipation and  packed with trade, private buyers and media from all over the world, the winning bid for the pink diamond came after a heart-stopping bidding duel from Wolf and another buyer.

The pink diamond originated from a 132.50-carat rough diamond that was recovered by De Beers in 1999 and then cut and polished by Steinmetz Diamonds over a period of two years into its present form. The diamond was first unveiled as the Steinmetz Pink in Monaco in 2003 and then it was sold and renamed in 2007.

Click here to read the full Rapaport report.