Written by Zoe Sottile, CNN
A stunning pink diamond has sold for almost $60 million, more than double its expected price.
The huge rock sold for 453.2 million Hong Kong dollars, or about $58 million, on Friday, according to auction house Sotheby’s. The stone was expected to sell for about $21 million. The 11.15-carat pink diamond, known as the “Williamson Pink Star,” is one of the purest, pinkest diamonds ever auctioned, according to a press release from Sotheby’s.
“The discovery of a gem-quality pink diamond of any size is an extremely rare occurrence, something that, with the recent closure of the Argyle mine, seemed very unlikely until recently,” said Wenhao Yu, president of Jewelry and Watches. at Sotheby’s Asia, at launch. “Driven by limited supply and growing demand, prices for large, high-quality pink diamonds over 5 carats have risen exponentially over the past decade, coincidentally setting the stage for the emergence of this unique stone.”
The pastel-colored diamond was named after two other pink diamonds, the CTF Pink Star, which sold for $71.2 million in 2017, and the “Williamson” diamond, a pink diamond given to Queen Elizabeth II.
The Williamson Pink Star is seen in this undated photo released by Sotheby’s. The pink diamond was auctioned for $49.9 million in Hong Kong on Friday, October 7, 2022, setting a world record for the highest price per carat for a diamond sold at auction. Credit: Sotheby’s/AP
According to Sotheby’s, the Williamson Pink Star was cushion-cut from a 32-carat rough diamond mined at the Williamson Mine in Tanzania.
The stone is unique both for its size and its color. Pink diamonds are some of the rarest varieties, according to Sotheby’s, and this rock stands out for its purity and clarity.
Hong Kong was the Diamond’s last stop after traveling on a tour that included Dubai, Singapore and Taipei.