Sotheby's Sets World Auction Record, Diamond Sells For $71.2 Million

Sotheby's set a new world auction record for any diamond or jewel when The Pink Star, a 59.60-carat oval fancy vivid pink and internally flawless diamond, sold for $71.2 million. 

the pink star diamond, sotheby's

The buyer was Hong Kong jeweler Chow Tai Fook, with the winning telephone bid placed by their Chairman, Dr. Henry Cheng Kar-Shun, who has renamed the stone The CTF Pink Star.

The CTF Pink Star joins a number of outstanding stones in the collection of Chow Tai Fook including the Aurora Green, a 5.03-carat vivid green diamond acquired in 2016 for $16.8 million, a new auction record for a green diamond, and the Cullinan Heritage, an exceptionally rare 507-carat rough diamond acquired for $35.3 million in 2010 that was cut and polished over three years to create "A Heritage in Bloom", a unique masterpiece of diamond jewelry. 

The Pink Star has been renamed 'The CTF Pink Star' in memory of the late Dr. Cheng Yu-Tung, father of the current chairman and founder of Chow Tai Fook, and commemorates the esteemed brand's 88th anniversary.

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