Latest NewsRare Pink Diamond sold in Hong Kong

Rare Pink Diamond sold in Hong Kong

Rare pink diamond sold in Hong Kong for closely $58 million, setting a record for price per carat paid at auction for any diamond or gemstone, according to Sotheby’s.

The 11.15-carat Williamson Pink Star raised HK$453.2 million ($57.7 million), the second-highest price paid at auction for any jewel, Sotheby’s added.

The winning bid, by an anonymous buyer from Boca Raton, Florida, was more than twice the likely $21 million sale price.

The stone was the second-largest pink diamond to be sold at auction. Pink diamonds are the fewest of the precious gems and the most in-demand on the global market.

The world record for a pink diamond set in 2017, when a stone known as the CTF Pink Star sold in Hong Kong for $71.2 million.

Friday’s sale “not only attests to the resilient demand for top quality diamonds in Asia, but a heightened awareness of the great scarcity of pink diamonds”, said Wenhao Yu, chairman of jewellery and watches at Sotheby’s Asia.

The Williamson Pink Star named after two other pink diamonds: the record-setting CTF Pink Star and the Williamson Stone, a 23.6-carat diamond given as a wedding present to Queen Elizabeth II in 1947.

Tobias Kormind, managing director of UK jewel retailer 77 Diamonds, said the “astounding” sale proved high-quality diamonds could still raise main prices in a shaky economy.

Read More: Queen Elizabeth Cause of Death Reveals

“Hard assets such as world-class diamonds have a history of performing well even in times of instability,” he said.

Related Stories

Threat to blow up the Taj Mahal with a bomb

There has been a threat to blow up the Taj Mahal, a historic building in the Indian city of...

Govt proposes 5-year jail, Rs1m fine for spreading fake news

Those who deliberately spread fake news, and create fear, panic, and discord will be punished with 5 years in...

NAB team arrives at CM House in KPK to arrest Bushra Bibi

NAB has issued an arrest warrant to arrest PTI founder Bushra Bibi, The NAB team has reached KPK to...

Trending on DiariesPK