According to Sotheby’s, a rare pink diamond recently sold in Hong Kong for about $58 million, setting a record for the highest price ever paid per carat for any diamond or gemstone.
The 11.15-carat Williamson Pink Star sold for HK$453.2 million ($57.7 million) on Friday, according to Sotheby’s, which is the second-highest price ever paid at auction for a gem.
An unidentified bidder from Boca Raton, Florida, placed the winning bid, which was more than double the anticipated sale price of $21 million.
The diamond sold at auction was the second-largest pink diamond ever. The rarest and most sought-after precious jewels on the market are pink diamonds.
When the CTF Pink Star stone, which established the world record price for a pink diamond in 2017, was sold in Hong Kong for $71.2 million, it did so.
Wenhao Yu, chairman of jewellery and watches at Sotheby’s Asia, said that Friday’s transaction “not only attests to the robust demand for top grade diamonds in Asia, but also a heightened understanding of the exceptional scarcity of pink diamonds.”
The Williamson Pink Star was given its name in honour of two great pink diamonds, the record-breaking CTF Pink Star and the 23.6-carat Williamson Stone, which was given to Queen Elizabeth II in 1947 as a wedding gift.
The “astonishing” sale, according to Tobias Kormind, managing director of UK jewellery retailer 77 Diamonds, demonstrated that even in a difficult economy, fine diamonds can command high prices.
He claimed that even during unstable times, hard assets like top-notch diamonds have a history of outperforming.