Personal Consultation
By Benji, Content ManagerThe Pink Star (or pink dream) is the world’s largest internally flawless fancy vivid pink diamond and almost became one of the most important diamond sales of all times. The exceptional stone was put up for auction back in November 2013 and sold to the highest bidder, diamond cutter Isaac Wolf, for a record price of $83 million! Wolf was representing a group of investors, only they unfortunately defaulted on the payment, leaving the stunning stone with Sotheby’s.
The auction house was forced to pay the seller the agreed $60 million minimum, although the stone has been valued to be worth at least $70-$75 million. Since then, the diamond has remained with Sotheby’s, all while looking for a suitable buyer.
The Pink Star
Pink diamonds are among the most sought after gemstones on the planet. Color diamonds are incredibly rare, and pink diamonds are not only one of the hardest colors to come by, but they are also one of the most desirable hues. Finding a large, high quality, pink stone with a high color intensity level is like finding a needle in a haystack, only the haystack being the size of a football field. That is why this fascinating gem made waves when it was offered at the Sotheby’s Geneva Magnificent Jewels sale. The sum it sold for astounded the public who was then even more shocked by the default in payment. At 59 carats, the oval-shaped, fancy vivid pink diamond is the largest of its kind to be graded by the renowned GIA.
The Buyers
Although nothing is set in stone, pardon the pun; it looks like Sotheby’s has located the future owners of the Pink Star. The news of these new buyers is both a relief and exciting news. The prestigious auction house has come to an agreement with two diamond firms, Diacore and Mellen Inc., once they have settled upon the value of the stone. We do not yet know the final price of the diamond or what the future holds for this significant gem, but it seems as though Sotheby’s will be releasing the rare specimen to the hands of others after holding onto it for the past three years.
Previously estimated at $72 million and once ‘almost’ sold for an additional $11 million, the Pink Star is in the process of transitioning from one owner to another. This has been one of the more dramatic sales in the diamond world. If there had to be one diamond that involved a lot of drama, it is very fitting for it to be the Pink Star given its unusual nature and features. Such a diamond does not come around often, so when it does, we can be sure it well sell alongside lots of fireworks and hoopla.
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