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November 14, 2013

Pink Diamond Sells at Auction for $83 Million

by VOA News

The world's largest known pink diamond has sold at auction for more than $83 million in Geneva.
 
"There is no other stone of that size and color known.  No other stone,” declared David Bennett, the auctioneer for Sotheby’s.
 
Sotheby's said Wednesday's sale of the rare 59.6-carat Pink Star diamond represents the highest price ever paid for a gemstone.
 
The oval-shaped diamond, mounted on a ring, was bought by a man bidding in the room, who told reporters that he was buying it on behalf of an anonymous person whom he represented.
 
“Ladies and gentlemen, 68 million is the world record bid for a diamond ever bid and it's right here,” Bennett said to applause as he brought down the hammer in the Geneva salesroom.
 
It was the star lot at Sotheby's semi-annual jewelry sale in Geneva, held in a heavily-guarded hotel showroom, which followed strong Hong Kong auctions last month.
 
The Pink Star diamond was discovered in Africa 14 years ago.
 
Prior to Wednesday’s sale, the Graff Pink diamond held the previous auction record, selling for just above $46 million three years ago.

Some information in this report was contributed by Reuters.