In the world of luxury, few objects captivate the imagination quite like a stunning piece of jewelry. Of all the glittering gems and meticulously crafted masterpieces, one stands above the rest in terms of both beauty and value: the Pink Star Diamond, the most expensive piece of jewelry ever sold.
The Journey of the Pink Star Diamond
The Pink Star Diamond is a 59.60-carat oval-cut pink diamond, renowned for its extraordinary color, size, and clarity. Mined by De Beers in 1999, this rare diamond was originally a rough stone weighing an astonishing 132.5 carats. After two years of meticulous cutting and polishing, the diamond was transformed into its final, awe-inspiring form, showcasing the vibrant pink hue that makes it so remarkable.
Pink diamonds are among the rarest gemstones in the world, and those of such vivid intensity, known as “fancy vivid,” are even rarer. The Pink Star is certified by the Gemological Institute of America (GIA) as the largest diamond of its kind to be graded with this level of color and purity.
Record-Breaking Auction
In April 2017, the Pink Star Diamond was sold at a Sotheby’s auction in Hong Kong for a staggering $71.2 million, setting a world record for the most expensive piece of jewelry ever sold at auction. The buyer, Chow Tai Fook, a Hong Kong-based jewelry company, renamed it “The CTF Pink Star” in honor of the company’s founder.
This sale eclipsed previous records, including that of the Oppenheimer Blue diamond, which sold for $57.5 million, and the Graff Pink, a 24.78-carat pink diamond, which fetched $46.2 million.
What Makes the Pink Star So Special?
The value of the Pink Star Diamond lies in several factors:
- Rarity of Pink Diamonds: Pink diamonds are incredibly rare, making up less than 0.01% of the world’s diamonds. Even rarer are those with the “fancy vivid” pink grading, like the Pink Star.
- Size: At 59.60 carats, the Pink Star is the largest internally flawless fancy vivid pink diamond ever graded by the GIA.
- Clarity and Cut: The Pink Star’s flawless clarity and exquisite oval cut enhance its brilliance and make it a truly unique gemstone.
- Historical Significance: The history behind the Pink Star, from its discovery in Africa to its record-breaking sale, adds to its allure.
The Impact of the Pink Star Diamond on the Jewelry Market
The Pink Star Diamond’s record-breaking sale highlights the growing demand for rare colored diamonds among the ultra-wealthy. This demand is driven not only by the aesthetic appeal of such gems but also by their status as investment assets. High-end jewelry has become a safe-haven investment, with rare gemstones appreciating in value over time.
The sale of the Pink Star also underscores the importance of provenance and certification. Gems like the Pink Star are meticulously graded and documented by institutions like the GIA, adding to their desirability and ensuring buyers are confident in their authenticity and value.
