“This evening in Hong Kong, Sotheby’s set a new world auction record for any diamond or jewel when the Pink Star, a 59.60-carat oval mixed-cut Fancy Vivid Pink Internally Flawless diamond, sold for US$71.2 million (HK$553 million),” Sotheby’s announced jubilantly.

The unique gem was purchased by Chow Tai Fook “with the winning telephone bid placed by Dr. Henry Cheng Kar-Shun, Chairman of the company”, Sotheby’s said. Since the acquisition the diamond has been renamed “CTF Pink Star” in memory of the late Dr. Cheng Yu-Tung, father of the current chairman and founder of Chow Tai Fook.

"It is fitting that the owner of the most prestigious jeweller in Greater China should today break the record for the most valuable item ever sold in Asia as well as the most valuable diamond ever sold at auction - now appropriately named the CTF Pink Star," said Sotheby's President and CEO Tad Smith. "And Sotheby's has been honoured and thrilled to serve this very discerning client for many years."

David Bennett, Worldwide Chairman of Sotheby’s Jewellery Division, added: “I am delighted that this magnificently beautiful diamond has been rightfully crowned the most valuable gemstone ever sold at auction. The price has more than doubled the record for a fancy vivid pink diamond that we set just last year in Geneva.”

This is not the first outstanding gem to be acquired by Chow Tai Fook. “The CTF Pink Star joins a number of outstanding stones in the collection of Chow Tai Fook including the Aurora Green, a 5.03-carat vivid green diamond acquired in 2016 for HK$130 million/US$16.8 million, an auction record for a green diamond, and the Cullinan Heritage, an exceptionally rare 507-carat rough diamond acquired for HK$ 275 million/US$35.3 million in 2010 that was cut and polished over three years to create “A Heritage in Bloom”, a unique masterpiece of diamond jewellery”, Sotheby’s elaborated  in a press note.

Mellen Inc., Sotheby's partner in The Pink Star, commented:  “Mellen is privileged to have had the opportunity to partner with Sotheby's in auctioning The Pink Star and congratulates its new owner on purchasing one of Earth's most magnificent natural treasures.”

The record setting diamond is accompanied by GIA report numbered 2175607011, dated 28 April 2016, which states  that the diamond is natural, Fancy Vivid Pink Colour, Internally Flawless; together with a diamond type classification report stating that the diamond is determined to be a Type IIa diamond. It is also accompanied by a letter from GIA stating that this is the largest Flawless or Internally Flawless, Fancy Vivid Pink, Natural Colour, diamond they have ever graded.  “It has received the highest colour and clarity grades from the GIA for pink diamonds and has been found to be part of the rare subgroup comprising less than 2% of all gem diamonds - known as Type IIa: stones in this group are chemically the purest of all diamond crystals and often have extraordinary optical transparency,” Sotheby’s stated.

The diamond was mined by De Beers in Africa in 1999. It took over two years to cut and polish this beauty from a 132.5-carat rough diamond.

 Pic Courtesy Sotheby’s