Sotheby entered into partnership for 59-carat Pink Diamond
The rare colored diamond called “Pink Star” is still in Sotheby’s Inventory due to cancellation
In November 2013 this high profile pink diamond of 59.6-carat did not find its final buyer after it got canceled. Now auction house Sotheby’s announced to have made two partnerships for the unsold colored diamond. The rare pink diamond is called the “Pink Star” and is graded by the Gemological Institute of America (GIA) internally flawless and fancy vivid, the highest color a colored diamond can get.
While everyone thought the “Pink Star” would head into the record books in November 2013 when a consortium bid of $83 million was given by diamond cutter Isaac Wolf. But soon after the sale the bid got cancelled. Therefore Sotheby’s paid the diamond seller $60 million, which was the guaranteed price.
The diamond is now remaining in the Sotheby’s inventory and the auction house said to be teaming up with two other firms to collectively own the unique pink diamond. The value of this rare intense colored pink diamond is at $72 million USD. The teaming up with two other partners did not disclose details regarding the financials.
The “Pink Star” remains the largest internally flawless, fancy vivid pink diamond ever graded by the GIA, according to Sotheby auction house.
Thus, this beautiful pink diamond piece is now in shared ownership.
Published on June 09, 2016 by Diamond Registry
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