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Pink Diamonds Sells For $83.02 Million

The Pink Star, a flawless pink diamond the size of a plum, sold for $83.02 million in Geneva on Wednesday, a world record price for a gemstone at auction.  The 59.60-carat diamond was bought by Isaac Wolf, a New York based diamond cutter, who has renamed the diamond The Pink Dream.

The Pink Star was mined in Africa in 1999.  Cut over a period of nearly two years from a 132.5-carat rough, the diamond was first unveiled to the public in May 2003 as the Steinmetz Pink. The stone was first sold privately in 2007 and renamed The Pink Star.  The diamond is graded as Type IIa, which is rare for any pink diamond, much less one of this size and color.
 
Prior to the sale the diamond was estimated to fetch more than $60 million. The price far exceeded expectations and the bidding closed with the playing of the "Pink Panther" movie's theme music!

The Pink Star is more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for a diamond and any gemstone or jewel at $46.2 million in 2010.



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