Sotheby’s Hong Kong set a new world auction record for any diamond or jewel when the Pink Star, a 59.60-carat oval mixed-cut fancy vivid pink internally flawless diamond, sold for HK$553 million or US$71.2 million at its Magnificent Jewels and Jadeite Sale on 4 April 2017.
The Pink Star was acquired by renowned jeweller Chow Tai Fook (CTF), with the winning telephone bid placed by Henry Cheng Kar-Shun, chairman of the company. The diamond has been renamed the CTF Pink in memory of the late Cheng Yu-Tung, father of the current chairman and founder of CTF, and commemorates the brand’s 88th anniversary.
“It is fitting that the owner of the prestigious jeweller in Greater China should today break the record for the most valuable item ever sold in Asia as well as the most valuable diamond or jewel ever sold at auction – now appropriately named the CTF Pink,” said Tad Smith, Sotheby’s president and CEO.
David Bennett, worldwide chairman of Sotheby’s Jewellery Division stated: “I am delighted that this magnificently beautiful diamond has been rightfully crowned the most valuable gemstone ever sold at auction. The price has more than doubled the record for a fancy vivid pink diamond that we set just last year in Geneva.”
The CTF Pink joins a number of outstanding stones in the collection of CTF including the Aurora Green, a 5.03-carat vivid green diamond acquired in 2016 for HK$130 million or US$16.8 million, an auction record for a green diamond, and the Cullinan Heritage, an exceptionally rare 507-carat rough diamond acquired for HK$275 million or US$35.3 million in 2010 that was cut and polished over three years to create A Heritage in Bloom, a unique masterpiece of diamond jewellery.
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