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World's largest cut diamond – the Pink Star – expected to fetch at least £37m World's largest cut diamond – the Pink Star – expected to fetch at least £37m
(35 minutes later)
"It is difficult to exaggerate how rare this is," said David Bennett, as the largest pink diamond that has ever been graded went on display – one that, up close, glints in the light like fireworks."It is difficult to exaggerate how rare this is," said David Bennett, as the largest pink diamond that has ever been graded went on display – one that, up close, glints in the light like fireworks.
Called the Pink Star, it is also likely to be the most valuable diamond there has ever been when it goes up for auction next month in Geneva. On Thursday, Sotheby's auction house put the diamond on display in London, estimating that the 59.60 carat gem would be sold for more than £37m. If that happens, it will easily break the auction record for any jewel sold, set by the Graff Pink, which was bought for £28.5m in 2010. Called the Pink Star, it is also likely to be the most valuable diamond there has ever been when it goes up for auction next month in Geneva. On Thursday, Sotheby's auction house put the diamond on display in London, estimating that the 59.60 carat gem would be sold for more than £37m. If that happens, it will easilybreak the auction record for any jewel sold, set by the Graff Pink, which was bought for £28.5m in 2010.
"This is a very exciting diamond," said Bennett, chairman of Sotheby's European jewellery division. "Apart from the words about how rare it is, it's just such a beautiful stone. Pink diamonds, in my experience, are the most desired of all the colours. I've never shown a pink diamond to somebody who then hasn't liked it. It's a joyful colour. It makes people happy.""This is a very exciting diamond," said Bennett, chairman of Sotheby's European jewellery division. "Apart from the words about how rare it is, it's just such a beautiful stone. Pink diamonds, in my experience, are the most desired of all the colours. I've never shown a pink diamond to somebody who then hasn't liked it. It's a joyful colour. It makes people happy."
The stone was mined in Africa by De Beers in 1999, and it then took nearly two years for it to be cut and polished by Steinmetz Diamonds. It was sold privately in 2007.The stone was mined in Africa by De Beers in 1999, and it then took nearly two years for it to be cut and polished by Steinmetz Diamonds. It was sold privately in 2007.
Diamonds have their own particular allure because of where they come from: they crystallise about 200km below the earth's surface and come anywhere near to human hands only because of volcanoes. "When you are looking at a diamond like this, you are looking at a real treasure of the earth," said Bennett.Diamonds have their own particular allure because of where they come from: they crystallise about 200km below the earth's surface and come anywhere near to human hands only because of volcanoes. "When you are looking at a diamond like this, you are looking at a real treasure of the earth," said Bennett.
The Pink Star was the main attraction at the Diamonds show at the Natural History Museum in the winter of 2005, and was one of eight of the rarest diamonds that were displayed at the Smithsonian in Washington in 2003.The breathtaking price will keep it off most Christmas lists, but members of the public can see it for real at Sotheby's headquarters in London until Tuesday where it is being shown along with a selection of other jewels in the sale.The Pink Star was the main attraction at the Diamonds show at the Natural History Museum in the winter of 2005, and was one of eight of the rarest diamonds that were displayed at the Smithsonian in Washington in 2003.The breathtaking price will keep it off most Christmas lists, but members of the public can see it for real at Sotheby's headquarters in London until Tuesday where it is being shown along with a selection of other jewels in the sale.
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