Pink Diamond Sold For US$71 Million

Pink Diamond Sold For US$71 Million.

Chow Tai Fook, the world’s top jeweller, purchased the 59.6 carat Pink Star, the world’s largest internally flawless diamond of its kind, for US$71.2 million at Sotheby’s on 4 April 2017. Formerly known as the Steinmetz Pink, it is rated in colour as Fancy Vivid Pink by the Gemological Institute of America (GIA). The Pink Star was mined by De Beers in 1999 in South Africa, and weighed 132.5 carat in the rough. As a result of this exceptional rarity, the Steinmetz Group took a cautious 20 months to cut the Pink. It was unveiled in Monaco on 29 May 2003 in a public ceremony. Pink diamond shades are thought to be due to changes to the electron structure, called “plastic deformation” during the voyage to the surface. These diamonds are usually associated with the Argyle mine in northwestern Australia, which produces an estimated 90% of all natural pink diamonds in the world.  However, they have also been found in Brazil, Tanzania, South Africa, and India. According to the GIA, only one in 10,000 natural diamonds is a coloured diamond outside the D-to-Z grading spectrum.  Coloured diamonds can be found in almost any shade of the rainbow, and the GIA lists 27 different hues for natural coloured diamonds.

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