The Pink Star: Most valuable diamond ever to be sold at auction

There are moments in one’s business life which stand out over and above all the many other exciting things that are part of life in the jewellery trade. Perhaps one of the most memorable was the day I handled the fabulous pink diamond which will be auctioned by Sotheby’s Hong Kong tomorrow.

Looking at the beauty in its colour and in its scintillation, was truly mesmerising. Add to that its considerable value and it is not surprising that the memory lives on.

The 59.6-carat coloured gemstone, which is described as one of earth’s greatest natural treasures, was sold for more than £52 million at an auction in Switzerland in 2013 but is back on the market after the sale defaulted.

The Pink Star is the most valuable cut diamond ever to be auctioned and is expected to sell for more than £48 million.  The current record price paid for a diamond is £40 million – set by the Oppenheimer Blue in 2016.

David Bennett, from Sotheby’s, said: “At a time of unprecedented demand for the finest in coloured diamonds, I am delighted to be bringing this magnificent stone back to the market.”

The Pink Star was originally a 132.5-carat rough diamond when it was mined in Africa by De Beers in 1999.

Experts spent two years meticulously cutting and polishing to hone it into its current oval shape, which is currently set into a ring.

It was a privilege to have had the opportunity to enjoy the precious pink diamond, and here at The Diamond Trust all eyes will be on the Pink Star at tomorrow’s auction.  We expect to hear sighs of relief if the diamond passes its previous value of £52 million.