59.6-Carat ‘Pink Star’ Expected to Set Record as the Most Valuable Diamond Ever Auctioned; Flawless Gem Could Fetch $60 Million

The “Pink Star,” a 59.6-carat internally flawless fancy vivid pink diamond, is expected to crush the all-time record for the most valuable diamond ever auctioned when it goes under the gavel at Sotheby’s Geneva on November 13. The incredible gem should fetch at least $60 million.

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Offered by an unidentified seller, the Pink Star was originally cut from a 132.5-carat rough diamond mined by DeBeers in Africa in 1999. Steinmetz Diamonds formed the diamond into its current oval shape during a cutting and polishing process that took two years to complete. More than 55 percent of the stone’s mass was sacrificed in an effort to attain the most perfect cut, clarity and color.

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The Pink Star subsequently earned GIA’s highest color and clarity grades for a pink diamond. It has a coveted Type IIA designation, which signifies a high level of chemical purity and optical transparency.

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David Bennett, chairman of Sotheby’s jewelry division in Europe and the Middle East, said the Pink Star is “of immense importance” because of its extraordinary size and exceptionally rich color that surpass all others known to exist in government, royal or private collections.

“It is simply off any scale, and passes, I believe, into the ranks of the earth’s greatest natural treasures,” he said.

How far off the scale is the Pink Star? Consider the fact that it is more than twice the size of the “Graff Pink,” a 24.78-carat fancy intense pink diamond, which set the current record when it sold for $45.75 million at Sotheby’s in Geneva in 2010.

The Pink Star was originally dubbed “The Steinmetz Pink,” but was renamed after it was sold privately in 2007 for an undisclosed amount.

The celebrated diamond will be taking a world tour to promote the Sotheby’s November auction. The Pink Star will be appearing in Hong Kong, New York, London and Zurich before settling in Geneva for the momentous sale.

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