Pink Star diamond sets new world record in Hong Kong - BBC News

A rare and beautiful diamond known as the Pink Star diamond has been sold in Hong Kong for more than $71,000,000, setting a new world record for any gemstone at an auction. The oval-shaped 59.6 karat diamond stone was bought after just five minutes' of bidding at Sotheby's. That makes it the largest polished diamond in its class to go at that price. The diamond initially sold for $83,000,000 in Geneva in 2013, but the buyer of the diamond later defaulted. The record until now was held by the Oppenheimer Blue Diamond, that sold for $50,000,000 in May of last year. Bidding for the diamond, which was found by De Beers in 1999 at a mine in Africa and cut over a period of two years, began at $56,000,000. Sotheby's said the buyer was a Hong Kong jewelry retailer Chow Tai Fook Jewellery. Alexander Breckner, the head of diamonds at jewelers 77 Diamonds, said that the stone was exceptional. He said that the pink diamond was the largest pink diamond that has ever been found in the history of humankind. It has an incredible color to it. And the sheer size of the pink stone also makes it rare and so beautiful.

Some of the previous records for stones include in May of 2016 a large diamond that is known as the Oppenheimer Blue Diamond set a new auction record, reaching a price of $50,000,000. The Blue Diamond was a 14.62-carat gem that sold after 20 minutes of phone bidding at Christie's auction house in Geneva. The buyer's identity is still unknown. In November of 2015 The Blue Moon, a 12.03-carat ring-mounted blue diamond was bought for a record $48,400,000 by Hong Kong tycoon Joseph Lau. The cushion-shaped stone caught his eye, and he bought it for his seven-year-old daughter and renamed it to the Blue Moon of Josephine after her. In May of 2015, an unnamed buyer made history after purchasing the Sunrise Ruby, a 25.59-carat pigeon blood colored gemstone. The gemstone was purchased for $30,000,000. At that price, it the pigeon blood colored gemstone became the world's most expensive precious stone other than a diamond. Back in November of 2013, the largest vivid orange diamond in the world attracted the highest price paid per karat for any diamond at an auction. The orange diamond sold for $35,000,000, or $2,400,000 per per karat. In November 2010 The Graff Pink, a 24.78-carat fancy intense pink stone that was described as one of the all-time greatest diamonds ever discovered, was auctioned for $46,200,000. At the time the diamond was believed to be the most expensive gemstone ever bought at an auction and was later sold to the British dealer Laurence Graff.

Pink diamonds are a type of diamond that has all the same elements as the more commonly known diamonds except that the diamonds also exhibit pink color. The source of their pink color is greatly debated in the gem world, but it is thought to be attributed to the enormous additional pressure that these diamonds undergo during their formation. Pink diamonds are a diamond that belongs to a subcategory of diamonds that are called fancy color diamonds, which is simply the generic name for all diamonds that exhibit any color. Pink diamonds range from Flawless to Included, just as white diamonds do. Several of these pink diamonds with internally flawless clarity have been discovered, but only one is known to be completely flawless, and that is the Pink Star(which was shortly renamed the Pink Dream until it diverted to Sotheby's.

This is pink diamond trending news can be found on the BBC site. On the site, you will also find trending videos, new trending news, music, world news, business and more. **