One of the most valuable diamonds ever placed on auction will make a return appearance at Sotheby’s Hong Kong Magnificent Jewels and Jadeite sale on April 4.
“The Pink Star” diamond at 59.60 carats is the Largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America. Its estimate is more than $60 million.
The oval-cut diamond sold for a remarkable $83 million at Sotheby’s Geneva in November 2013, a figure that remains the highest ever for a diamond to this day. However, it wasn’t long after the sale that rumors started to float that the consortium of buyers, led by diamond cutter Isaac Wolf, reneged on the purchase. In February 2014, Sotheby’s confirmed the rumors in its annual report, saying the diamond is now part of its inventory valued at approximately $72 million. The auction house reportedly had to buy back the diamond for $60 million because it had guaranteed that price to the original seller of the diamond.