CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
AuctionsMar 20, 2017
The 60-Carat ‘Pink Star’ Will Return to Auction Next Month
The 59.60-carat internally flawless fancy vivid pink diamond is estimated to sell for more than $60 million at Sotheby’s Hong Kong.
“The Pink Star” is a 59.60-carat oval-cut Type IIa pink diamond and the largest internally flawless fancy vivid pink diamond the Gemological Institute of America has ever graded.
Hong Kong--An oval pink diamond weighing almost a whopping 60 carats will hit the auction block in Hong Kong next month.
“The Pink Star” is a 59.60-carat oval-cut Type IIa pink diamond and the largest internally flawless fancy vivid pink diamond the Gemological Institute of America has ever graded. The diamond came from a 132.5-carat piece of rough mined by De Beers in Africa in 1999 before being cut and polished over a two-year period.
It will lead the Magnificent Jewels and Jadeite sale at Sotheby’s Hong Kong on April 4, where it’s estimated to sell for more than $60 million.
The stone is more than twice the size of the “Graff Pink,” a 24.78-carat fancy intense pink diamond that currently holds the world auction record for a pink diamond--that sold at Sotheby’s Geneva in 2010 for $46.2 million.
But there’s some other context for the stone, as this will not be its first time at auction.
The stone hit the auction block in November 2013 at Sotheby’s Geneva, where four different bidders competed for it. The winning bid was $83 million, which, at the time, marked a new auction record for any diamond.
Then in February 2014, Sotheby’s announced that the buyer of The Pink Star had defaulted on the payment for the stone and as a result, the auction house had to take the diamond into inventory as it had been sold under an auction guarantee.
Last summer, Sotheby’s announced that it had formed a partnership with Diacore and Mellen Inc. to acquire an ownership interest in the diamond, meaning that when the stone sold, proceeds would be split among the three companies per their ownership percentage.
“The Pink Star” is a 59.60-carat oval-cut Type IIa pink diamond and the largest internally flawless fancy vivid pink diamond the Gemological Institute of America has ever graded. The diamond came from a 132.5-carat piece of rough mined by De Beers in Africa in 1999 before being cut and polished over a two-year period.
It will lead the Magnificent Jewels and Jadeite sale at Sotheby’s Hong Kong on April 4, where it’s estimated to sell for more than $60 million.
The stone is more than twice the size of the “Graff Pink,” a 24.78-carat fancy intense pink diamond that currently holds the world auction record for a pink diamond--that sold at Sotheby’s Geneva in 2010 for $46.2 million.
But there’s some other context for the stone, as this will not be its first time at auction.
The stone hit the auction block in November 2013 at Sotheby’s Geneva, where four different bidders competed for it. The winning bid was $83 million, which, at the time, marked a new auction record for any diamond.
Then in February 2014, Sotheby’s announced that the buyer of The Pink Star had defaulted on the payment for the stone and as a result, the auction house had to take the diamond into inventory as it had been sold under an auction guarantee.
Last summer, Sotheby’s announced that it had formed a partnership with Diacore and Mellen Inc. to acquire an ownership interest in the diamond, meaning that when the stone sold, proceeds would be split among the three companies per their ownership percentage.
More on Auctions
The Latest
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Weekly QuizApr 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
EditorsApr 25, 2024
5 Tips for Creating Fans from the Top (Savannah) Banana Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
WatchesApr 25, 2024
Audemars Piguet and John Mayer Partner on Limited Edition WatchThe Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
SourcingApr 25, 2024
De Beers Lowers Production Guidance for 2024The announcement came as the company reported a 23 percent drop in production in Q1.
