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This Rare 59-Carat Gem Could Become The Most Expensive Diamond Ever Sold at Auction

Published: Apr 04, 2017 2 min read
The Pink Star Diamond goes on auction with Sotheby's Hong Kong
A model shows the 59.60 carat Pink Star diamond ring, expected to fetch US$ 60 million plus, to the press at Sotheby's Hong Kong, Hong Kong SAR, China on March 29, 2017.
Anadolu Agency, Getty Images

A huge diamond known as the “Pink Star” may break records Tuesday to become the most expensive diamond ever sold at auction.

The 59.60-carat diamond, worth more than $60 million, will be auctioned off at Sotheby’s “Magnificent Jewels and Jadeite Spring Sale” in Hong Kong. It’s the largest "Internally Flawless, Fancy Vivid Pink" diamond ever to be graded by the Geological Institute of America (GIA), Sotheby’s said. The diamond fits onto a ring.

One jewelry expert — Tobias Kormind of 77 million, an online diamond seller — expects the “Pink Star” to go for more than $100 million, CNN reported

Cutting the diamond took nearly two years to complete. The diamond was first auctioned off by Sotheby’s in Geneva in 2013, where it sold for a record $83 million to New York-based diamond cutter Isaac Wolf. He ended up defaulting on the deal, CNN reported.

By bringing the diamond to Hong Kong, Sotheby’s is “writing a new chapter in its story by offering it for sale in Hong Kong, now a global epicenter for the world’s wealthy,” Kormind told CNN.