The Pink Star diamond is one of the most extraordinary gemstones ever discovered, renowned not only for its breathtaking beauty but also for its record-breaking price at auction. Weighing an impressive 59.60 carats, this rare pink diamond holds the title of the most expensive diamond ever sold, fetching a staggering $71.2 million at a Sotheby’s auction in 2017. Its exceptional size, vivid color, and flawless clarity make it a true marvel of nature and a symbol of luxury. This article explores the fascinating history, unique characteristics, and the journey of the Pink Star diamond from its discovery to its record-breaking sale.
The Discovery and Origin of the Pink Star Diamond
The Pink Star was mined by De Beers in 1999 in South Africa, a country famous for producing some of the world’s most magnificent diamonds. Originally weighing 132.5 carats in its rough form, the diamond was meticulously cut and polished over two years by experts at the Steinmetz Group, a leading diamond company. The cutting process was an immense challenge due to the diamond’s rarity and the need to maximize its brilliance while preserving as much of its weight as possible. The result was an oval-shaped, internally flawless, fancy vivid pink diamond weighing 59.60 carats—a masterpiece of gemological craftsmanship.
The Unique Characteristics of the Pink Star
What makes the Pink Star so special is its combination of size, color, and clarity.
1. Color – Fancy Vivid Pink
The Pink Star is classified as a “fancy vivid pink” diamond, the highest color grade for pink diamonds. Unlike white diamonds, which are valued for their lack of color, colored diamonds derive their worth from the intensity and purity of their hue. The Pink Star’s mesmerizing pink shade is due to a rare distortion in its crystal lattice structure, a phenomenon caused by extreme pressure during its formation deep within the Earth.
2. Clarity – Internally Flawless
The diamond boasts an “Internally Flawless” clarity rating, meaning it has no visible inclusions even under 10x magnification. This level of perfection is exceptionally rare, especially in large colored diamonds, making the Pink Star a true gemological wonder.
3. Cut and Carat Weight
The oval mixed-cut enhances the diamond’s brilliance and showcases its vibrant color. At 59.60 carats, it is one of the largest fancy vivid pink diamonds ever graded by the Gemological Institute of America (GIA).
The Journey to Auction
Before becoming the Pink Star, the diamond was initially named the “Steinmetz Pink” after the company that cut and polished it. It was first unveiled in Monaco in 2003, where it captivated the world with its unparalleled beauty.
In 2007, the diamond was offered at a Sotheby’s auction in Hong Kong, where it was expected to sell for over $60 million. However, the sale fell through when the winning bidder, Israeli diamond cutter Isaac Wolf, defaulted on payment. Sotheby’s was forced to buy the diamond back for $72 million, making it the most expensive item the auction house had ever purchased.
For nearly a decade, the Pink Star remained in Sotheby’s possession until it was reintroduced for auction in April 2017. This time, the sale was a success, with the diamond selling for $71.2 million to Hong Kong jewelry retailer Chow Tai Fook, who renamed it the “CTF Pink Star” in honor of their company.
Why Is the Pink Star So Valuable?
Several factors contribute to the Pink Star’s astronomical value:
1. Extreme Rarity
Pink diamonds are among the rarest in the world, accounting for less than 0.1% of all diamonds mined. Most pink diamonds come from the Argyle Mine in Australia, which closed in 2020, further increasing their scarcity. The Pink Star’s size and color intensity make it one of a kind.
2. High Demand for Colored Diamonds
Collectors and investors highly prize colored diamonds, particularly pinks and blues, due to their uniqueness and potential for appreciation. The sale of the Pink Star set a new benchmark for diamond auctions, surpassing the previous record held by the Oppenheimer Blue diamond, which sold for $57.5 million in 2016.
3. Symbol of Wealth and Prestige
Owning such a rare gem is a status symbol reserved for the ultra-wealthy. The Pink Star’s acquisition by Chow Tai Fook reinforces its position as a crown jewel in the world of high-end jewelry.
The Future of the Pink Star
Today, the Pink Star remains one of the most celebrated diamonds in history. While its current owner has not disclosed plans for the gem, it is likely to be displayed in exhibitions or used as a centerpiece for exclusive jewelry collections. Given its rarity, its value is expected to increase over time, solidifying its legacy as one of the most extraordinary gemstones ever discovered.
Conclusion
The Pink Star diamond represents the pinnacle of nature’s beauty and human craftsmanship. Its record-breaking sale, stunning color, and flawless characteristics make it a true wonder of the gem world. As one of the rarest and most expensive diamonds ever sold, the Pink Star continues to captivate collectors, investors, and diamond enthusiasts worldwide. Its legacy will endure as a symbol of luxury, rarity, and timeless elegance.
