Pink diamond sells for record $57.7M at Hong Kong auction

Pink diamond sells for record $57.7M at Hong Kong auction
October 14, 2022, 6:30 pm

A pink diamond was sold for $57.7 million in Hong Kong on Oct. 7 - Photo, Pixabay

A pink diamond was sold for $57.7 million in Hong Kong on Oct. 7, setting a world record for the highest price per carat for a diamond sold at auction, the Associated Press reported.

It said that the 11.15-carat Williamson Pink Star, auctioned by Sotheby’s Hong Kong, fetched close to $5.2 million per carat, exceeding the previous record of $4 million for a blue diamond sold in 2015.

Sotheby’s said that the buyer was a private collector in the United States.

The Williamson Pink Star draws its name from two legendary pink diamonds. The first is the 23.60-carat Williamson Pink Diamond presented to the late Queen Elizabeth II as a wedding gift in 1947, while the second is the 59.60-carat Pink Star that sold for a record $71.2 million at auction in 2017.

The Williamson Pink Star, the second-largest pink diamond to appear at auction, and Queen Elizabeth’s diamond both came from the Williamson mine in Tanzania.

Diamond is a rare, naturally occurring mineral composed of carbon - Photo. Pixabay

The mine is famous for pink diamonds, which are among the rarest and most valuable of the colored diamonds.

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Tobias Kormind, managing director of 77 Diamonds said: “This is an astounding result, proving the resilience of top diamonds in a shaky economy."

“Hard assets such as world-class diamonds have a history of performing well even in times of instability,” he said, adding that “Some of the world’s highest quality diamonds have seen prices double over the last 10 years.”

Source: ap

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