Auctions

The 60-Carat ‘Pink Star’ Will Return to Auction Next Month

AuctionsMar 20, 2017

The 60-Carat ‘Pink Star’ Will Return to Auction Next Month

The 59.60-carat internally flawless fancy vivid pink diamond is estimated to sell for more than $60 million at Sotheby’s Hong Kong.

The 60-Carat ‘Pink Star’ Will Return to Auction Next Month
“The Pink Star” is a 59.60-carat oval-cut Type IIa pink diamond and the largest internally flawless fancy vivid pink diamond the Gemological Institute of America has ever graded.
Hong Kong--An oval pink diamond weighing almost a whopping 60 carats will hit the auction block in Hong Kong next month.

“The Pink Star” is a 59.60-carat oval-cut Type IIa pink diamond and the largest internally flawless fancy vivid pink diamond the Gemological Institute of America has ever graded. The diamond came from a 132.5-carat piece of rough mined by De Beers in Africa in 1999 before being cut and polished over a two-year period.

It will lead the Magnificent Jewels and Jadeite sale at Sotheby’s Hong Kong on April 4, where it’s estimated to sell for more than $60 million.

The Pink Star has been called a “true masterpiece of nature, beyond characterization with human vocabulary” in a GIA monograph written for the stone.

The stone is more than twice the size of the “Graff Pink,” a 24.78-carat fancy intense pink diamond that currently holds the world auction record for a pink diamond--that sold at Sotheby’s Geneva in 2010 for $46.2 million.

But there’s some other context for the stone, as this will not be its first time at auction.

The stone hit the auction block in November 2013 at Sotheby’s Geneva, where four different bidders competed for it. The winning bid was $83 million, which, at the time, marked a new auction record for any diamond.

Then in February 2014, Sotheby’s announced that the buyer of The Pink Star had defaulted on the payment for the stone and as a result, the auction house had to take the diamond into inventory as it had been sold under an auction guarantee.

Last summer, Sotheby’s announced that it had formed a partnership with Diacore and Mellen Inc. to acquire an ownership interest in the diamond, meaning that when the stone sold, proceeds would be split among the three companies per their ownership percentage. 
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Watch: How Is the Industry Doing When It Comes to Diversity?
Recorded WebinarsMar 31, 2023
Watch: How Is the Industry Doing When It Comes to Diversity?

Annie Doresca and Michelle Graff welcome Reggie Johnson and Sheryl Jones for a frank conversation on the state of DEI in fine jewelry.

Macy’s Longtime CEO to Retire Next Year
MajorsMar 31, 2023
Macy’s Longtime CEO to Retire Next Year

Jeff Gennette will step down in February 2024, passing the torch to the CEO of another notable retailer.

JBT Re-Elects Richard Katz as Board Chairman
MajorsMar 31, 2023
JBT Re-Elects Richard Katz as Board Chairman

As for new members, the organization welcomed Jewelers of America’s Annie Doresca and Parag Jain of Parag Diamonds.

Full Disclosure at Your Fingertips
Brought to you by
Full Disclosure at Your Fingertips

Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.

At Watches & Wonders, a $20M Watch Makes Its Debut
WatchesMar 30, 2023
At Watches & Wonders, a $20M Watch Makes Its Debut

Jacob & Co.’s new “Billionaire” timepiece features more than 200 carats of yellow diamonds.

Weekly QuizMar 31, 2023
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Jewelers Mutual Marks a Major Milestone
MajorsMar 30, 2023
Jewelers Mutual Marks a Major Milestone

The jewelry industry insurer and solutions provider is celebrating 110 years in business this month.

NRF Says Brick-and-Mortar Stores Remain ‘Primary Point of Purchase’
SurveysMar 30, 2023
NRF Says Brick-and-Mortar Stores Remain ‘Primary Point of Purchase’

The statement came as the National Retail Federation released its retail sales forecast for 2023.

Bringing Over 130 Years of Diamond Expertise to Modern Grading
Brought to you by
Bringing Over 130 Years of Diamond Expertise to Modern Grading

De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.

10.57-Carat Purplish Pink Diamond Expected to Sell for $35M+
AuctionsMar 29, 2023
10.57-Carat Purplish Pink Diamond Expected to Sell for $35M+

Sotheby’s will auction the diamond, which it says is “arguably the most significant pink diamond to ever appear at auction,” in June.

Blue Nile to Close Fulfillment Center, Lay Off Workers
MajorsMar 29, 2023
Blue Nile to Close Fulfillment Center, Lay Off Workers

The retailer, recently acquired by Signet Jewelers, will lay off 119 employees in July.

See All the New Patek Philippe Watches for 2023
WatchesMar 29, 2023
See All the New Patek Philippe Watches for 2023

The Swiss watchmaker introduced 17 new models at Watches & Wonders Geneva.

Mark Henry Jewelry Offering Complimentary ‘Masterclass’ on Sales from Peter Smith
MajorsMar 29, 2023
Mark Henry Jewelry Offering Complimentary ‘Masterclass’ on Sales from Peter Smith

As part of the promotion, Smith will share his sales expertise during a 90-minute training session.

I’m Enchanted With Parmigiani Fleurier’s Perfect Travel Watch
EditorsMar 28, 2023
I’m Enchanted With Parmigiani Fleurier’s Perfect Travel Watch

At Watches & Wonders, the Swiss brand unveiled a follow-up to last year’s Tonda PF GMT Rattrapante.

Helzberg’s New Lab-Grown Diamond Collection Earns SCS Certification
CollectionsMar 28, 2023
Helzberg’s New Lab-Grown Diamond Collection Earns SCS Certification

The “rêve” collection’s engagement rings and wedding bands are geared toward “sustainability minded customers.”

This New Rolex Day-Date Tells Time … and Affirmations
EditorsMar 28, 2023
This New Rolex Day-Date Tells Time … and Affirmations

A new word appears on the dial each day of the week.

D.C. Jeweler That Honored 50-Year-Old Gift Certificate Closes
IndependentsMar 28, 2023
D.C. Jeweler That Honored 50-Year-Old Gift Certificate Closes

Bensons Jewelers closed for good Feb. 24, impacted in part by the decline in foot traffic downtown since the onset of the pandemic.

Swarovski Names New GM of North America
MajorsMar 28, 2023
Swarovski Names New GM of North America

Kolja Kiofsky has been with the crystal and jewelry company since 2010.

Jewels to Shine in Upcoming ‘Golden Age’ of Hollywood Auction
AuctionsMar 27, 2023
Jewels to Shine in Upcoming ‘Golden Age’ of Hollywood Auction

The Kruse GWS Auctions sale will include the replica “Taj Mahal” necklace Elizabeth Taylor made with Avon as well as a costume piece Marilyn Monroe wore.

Pandora Promotes GM to Chief of Retail Operations
MajorsMar 27, 2023
Pandora Promotes GM to Chief of Retail Operations

Massimo Basei is moving up, while Chief Commercial Officer Martino Pessina is stepping down.

Registration Is Open for the HardRock Summit
Events & AwardsMar 27, 2023
Registration Is Open for the HardRock Summit

AGTA GemFair and the Denver Gem & Mineral Show also will have a presence on the show floor.

Piece of the Week: The $5.8M Patek Philippe ‘Sky Moon Tourbillon’
AuctionsMar 24, 2023
Piece of the Week: The $5.8M Patek Philippe ‘Sky Moon Tourbillon’

Sold by Christie’s Hong Kong, this masterwork of complications now holds the record for most expensive watch ever auctioned online.

Movado Predicts Declining Sales Amid ‘Volatile’ Retail Environment
FinancialsMar 24, 2023
Movado Predicts Declining Sales Amid ‘Volatile’ Retail Environment

The watch company expects first-quarter sales to fall as much as 15 percent due to inflation and tough comps.

Lightbox Promotes General Manager to COO
Lab-GrownMar 24, 2023
Lightbox Promotes General Manager to COO

Adam O’Grady, general manager of the Lightbox Lab, has taken on the new role and will report directly to Lightbox CEO Antoine Borde.

Which Brands Do Watch Enthusiasts Love Most? Chrono24 Takes a Look
WatchesMar 23, 2023
Which Brands Do Watch Enthusiasts Love Most? Chrono24 Takes a Look

The watch marketplace gathered data from 1.3 million collectors, highlighting the most popular timepieces and exploring value appreciation.

Burgundy Diamond Backing Out of Ellendale Mine Deal
SourcingMar 23, 2023
Burgundy Diamond Backing Out of Ellendale Mine Deal

Burgundy has opted not to exercise its option to buy the mining claims Gibb River Diamonds currently owns.

GCAL Introduces 8X Cut Grade for Proprietary Cuts
GradingMar 23, 2023
GCAL Introduces 8X Cut Grade for Proprietary Cuts

Patented and specialty cuts now can receive an 8X Proprietary Certificate, which can be customized to include a company’s brand and logo.

Diamonds Do Good Names 2023 Award Recipients
Events & AwardsMar 23, 2023
Diamonds Do Good Names 2023 Award Recipients

The organization said it will recognize those who exemplify the idea that doing good is good business.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy