The Pink Star Diamond: A Priceless Jewel with a Rich History
The Pink Star diamond, which fetched the highest price ever for a jewel offered at auction, is displayed at Sotheby’s in Hong Kong on March 29.
Originally called the “Steinmetz Pink,” this gemstone stands as a true marvel in the world of diamonds. Weighing an extraordinary 59.60 carats, it claims the title of the largest internally flawless pink diamond ever graded by the Gemological Institute of America (GIA). Its captivating color and impressive size have solidified its place in history as one of the most significant diamonds ever discovered. From its unearthing to its record-breaking auction, this Pink Diamond has captivated gem enthusiasts, collectors, and the public, becoming a symbol of unparalleled beauty and value.
The Discovery and Origin of the Pink Star Diamond
The Pink Star Diamond, a vivid pink oval-cut gemstone
The story begins in Africa, where De Beers unearthed it in 1999. Initially weighing an astounding 132.5 carats in its rough form, the diamond underwent a meticulous two-year cutting and polishing process by Steinmetz Diamonds to achieve its flawless brilliance. Through careful craftsmanship, this process transformed the rough stone into the 59.60-carat Pink Star, which quickly garnered worldwide attention for its extraordinary qualities.
What truly sets it apart is its stunning pink color, a rarity in the diamond world. The vivid pink hue, believed to result from the diamond’s unique atomic structure, places it in the “Fancy Vivid” color category, the highest grade possible for pink diamonds. This intense color saturation significantly boosts its value and makes it even more extraordinary.
Auction History: Setting Records Worldwide
The Pink Star Diamond has consistently made waves at auctions, shattering records with every appearance. It debuted at auction in 2013, when Sotheby’s showcased it in Geneva. During this sale, the Pink Star broke the world record for the most expensive diamond sold at auction, fetching an incredible $83 million. Diamond cutter Isaac Wolf placed the winning bid and renamed the stone “The Pink Dream.” However, the sale fell through when Wolf couldn’t fulfill the payment, and the diamond returned to Sotheby’s.
Despite this initial setback, the Pink Star reclaimed its record-breaking status in April 2017 when it returned to auction, this time in Hong Kong. Bidders eagerly competed, and the Pink Star ultimately sold to Chow Tai Fook Enterprises, a leading jewelry retailer based in Hong Kong, for $71.2 million. This sale solidified the Pink Star’s place as the most valuable gemstone ever sold at auction, a title it still holds today.
Why Is the Pink Star Diamond So Valuable?
The Pink Star Diamond’s value can be attributed to several factors, with its rarity being the most significant. Pink diamonds, particularly those with the intense “Fancy Vivid” color grade, are exceedingly rare, and stones of this size and quality are almost unheard of. Additionally, the Pink Star’s flawless clarity—another key factor in its valuation—sets it apart from other diamonds, as imperfections in large colored diamonds are common.
Moreover, the diamond’s origin, craftsmanship, and history all contribute to its extraordinary value. The meticulous cutting and polishing by Steinmetz Diamonds, combined with its high-profile appearances at auctions and record-breaking sales, have elevated the Pink Star to iconic status within the world of fine jewelry.
The Impact of the Pink Star Diamond on the Diamond Industry
The Pink Star Diamond’s prominence has had a ripple effect on the diamond industry, particularly in the market for colored diamonds. In recent years, colored diamonds have gained increasing attention from collectors and investors due to their rarity and potential for appreciation in value. The Pink Star’s record-breaking sales have helped to fuel this trend, highlighting the significant investment potential of rare gemstones.
The Pink Star has inspired a renewed interest in pink diamonds specifically, leading to greater demand for these precious stones. With the closure of the Argyle Mine in Australia, which was responsible for producing over 90% of the world’s pink diamonds, the scarcity of pink diamonds is only expected to increase, further enhancing their value.
The Future of the Pink Star Diamond
The Pink Star Diamond worn as a ring, highlighting its luxurious brilliance and unique hue.
As one of the most famous diamonds in the world, the Pink Star continues to be a symbol of opulence and rarity. Its current owners, Chow Tai Fook Enterprises, have yet to announce any plans to resell the diamond However, it remains a prized asset in their impressive collection of high-value gemstones. Given its history, there is little doubt that the Pink Star will remain a focal point in the diamond world for years to come.
The future of the Pink Star Diamond is likely to see it continue to appreciate in value, as the demand for rare colored diamonds shows no signs of waning. As collectors and investors seek out the most unique and valuable assets, the Pink Star’s unparalleled combination of size, color, and clarity will ensure its place as one of the most sought-after diamonds in existence.
Conclusion: A Gem of Unmatched Splendor
The Pink Star Diamond is much more than a gemstone; it is a piece of history and a symbol of human craftsmanship at its finest. From its humble beginnings as a rough stone in Africa to its status as the most valuable diamond ever sold, the Pink Star’s journey is a testament to the enduring allure of rare diamonds. Whether admired for its beauty, coveted for its rarity, or sought after for its investment potential, the Pink Star Diamond holds a special place in the world of fine jewelry.
If you’re captivated by rare diamonds like the Pink Star and own or would like to buy a pink diamond, book your appointment today with Truval!