IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
AuctionsApr 04, 2017
‘The Pink Star’ Sells for $71M at Sotheby’s
The 59.60-carat pink diamond is, once again, the most expensive jewel ever sold at auction.
The 59.60-carat “Pink Star” diamond has surpassed the Oppenheimer Blue to become the most expensive jewel ever sold at auction. Chow Tai Fook paid more than $71 million for the stone at Sotheby’s Hong Kong Tuesday.
Hong Kong--The 59.60-carat “Pink Star” diamond has, once again, become the most expensive jewel ever sold at auction, and maybe this time it will stick.
The Pink Star is a 59.60-carat oval mixed-cut Type IIa pink diamond and is 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 and was cut and polished over a two-year period.
Chow Tai Fook paid $71.2 million for the stone on Tuesday at Sotheby’s Magnificent Jewels and Jadeite sale in Hong Kong and renamed it The CTF Pink. The Hong Kong-based retailer and manufacturer edged out two other buyers to snag the stone, Sotheby’s said.
Sotheby’s experts had estimated before the sale that The Pink Star would sell for more than $60 million.
It set a new world record price for any jewel sold at auction, surpassing the rectangular-cut, 14.62-carat “Oppenheimer Blue,” which sold for $57.5 million at Christie’s Geneva last May.
This isn’t the first time The Pink Star has found a buyer at auction, though the first sale fell through.
The nearly 60-carat pink stone went up for auction in November 2013 at Sotheby’s Geneva, where four different bidders competed for it. New York diamond cutter Isaac Wolf placed the winning bid of $83 million, which, at the time, marked a new auction record for any jewel ever sold at auction.
In February 2014, though, Wolf defaulted on the payment for the diamond he had named “The Pink Dream” and as a result, Sotheby’s had to take the stone back into its inventory because it had been sold under an auction guarantee.
Last summer, the auction house 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.
Editor’s Note: This story was updated post-publication to reflect the news that Chow Tai Fook renamed the pink diamond after acquiring it.
The Pink Star is a 59.60-carat oval mixed-cut Type IIa pink diamond and is 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 and was cut and polished over a two-year period.
Chow Tai Fook paid $71.2 million for the stone on Tuesday at Sotheby’s Magnificent Jewels and Jadeite sale in Hong Kong and renamed it The CTF Pink. The Hong Kong-based retailer and manufacturer edged out two other buyers to snag the stone, Sotheby’s said.
Sotheby’s experts had estimated before the sale that The Pink Star would sell for more than $60 million.
It set a new world record price for any jewel sold at auction, surpassing the rectangular-cut, 14.62-carat “Oppenheimer Blue,” which sold for $57.5 million at Christie’s Geneva last May.
This isn’t the first time The Pink Star has found a buyer at auction, though the first sale fell through.
The nearly 60-carat pink stone went up for auction in November 2013 at Sotheby’s Geneva, where four different bidders competed for it. New York diamond cutter Isaac Wolf placed the winning bid of $83 million, which, at the time, marked a new auction record for any jewel ever sold at auction.
In February 2014, though, Wolf defaulted on the payment for the diamond he had named “The Pink Dream” and as a result, Sotheby’s had to take the stone back into its inventory because it had been sold under an auction guarantee.
Last summer, the auction house 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.
Editor’s Note: This story was updated post-publication to reflect the news that Chow Tai Fook renamed the pink diamond after acquiring it.
More on Auctions
The Latest
ColumnistsFeb 19, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
