If you dream of pink diamonds, one stone in particular will live rent-free in your mind - the Pink Star Diamond. This legendary gemstone etched its name in history when it smashed records during a historic Sotheby's auction in Hong Kong in 2017, fetching an astounding $71.2 million. But what makes the Pink Star Diamond so special?
With a weight of 59.60 carats and a rare grading as a fancy vivid pink internally flawless diamond, the Pink Star Diamond is a truly rare find. In this article, we'll explore the stone's exceptional characteristics, the history of pink diamonds, and look at other notable pink diamonds that have captured the hearts of collectors worldwide.
Pink diamonds have captured the minds and hearts of jewelers and jewelry lovers for centuries. They were first documented in the 1640s by the French merchant and adventurer Jean-Baptiste Tavernier. While traveling through India's Kingdom of Golconda, he laid eyes on a massive rough pink diamond weighing over 200 carats. This discovery set the stage for the mystique surrounding pink diamonds.
Despite their captivating beauty, pink diamonds remained exceptionally rare throughout history. Occasional discoveries in Brazil and South Africa offered glimpses of these elusive treasures. However, the Argyle mine in Western Australia emerged as the primary source of pink diamonds in recent decades, contributing a staggering 80% of the world's pink diamond supply.
To truly grasp the rarity of pink diamonds, consider this: while the Argyle mine produced an average of 8 million carats of diamonds annually and a remarkable 865 million carats of rough diamonds in its 37-year history, only a mere 5% of these diamonds were gem quality. Within this 5%, the majority were brown or yellow diamonds, with less than 1% of those mined being gem-quality pink diamonds. This scarcity has cemented their status as some of the most sought-after fancy colored diamonds in the world.
The story of the Pink Star Diamond begins in 1999 when De Beers, a renowned name in the diamond industry, unearthed the original 132.5-carat rough diamond in Africa. Over two painstaking years, skilled artisans meticulously cut and polished this rare find until it was transformed into a flawless, vivid pink diamond.
The diamond was initially named the Steinmetz Pink after the company that first purchased it. The diamond gained notoriety when Steinmetz lent it to the Smithsonian Museum of Natural History in Washington D.C., where it was displayed, dazzling the public with its unparalleled beauty.
In 2013, Sotheby's Geneva auctioned the pink diamond on behalf of Steinmetz. The buyer, Isaac Wolf, a New York diamond cutter, made headlines when he agreed to purchase the now-called Pink Star Diamond for a staggering $83 million. However, when he defaulted on the payment, Sotheby's was forced to acquire it due to their auction house's guarantee agreement of $60 million.
In April 2017, the diamond took center stage once more at a Sotheby's auction. It was purchased for $71.2 million by Hong Kong jeweler Chow Tai Fook, who renamed it the CTF Pink, paying homage to the company's initials and founder.
Auction prices for pink diamonds are not solely based on their size but are influenced by market supply and demand, as well as the storied histories they carry. While the Pink Star Diamond broke records with its size, quality, and price, it's not the only pink diamond that has fetched astonishing sums.
Here are a few of the most prized pink diamonds sold at auction:
The Winston Pink Legacy: An 18.96-carat vivid pink diamond that sold for $50.7 million at Christie's in November 2018.
The Princie Diamond: A 34.65-carat fancy intense pink diamond that commanded $39.3 million at Christie's in April 2013.
The Pink Promise: A 14.93-carat fancy vivid pink diamond that found a new owner for $32.5 million at Christie's Hong Kong in November 2017.
The Graff Pink: A 24.78-carat fancy intense pink diamond that fetched $46.1 million at Sotheby's in November 2010 (pictured below).
While the Pink Star Diamond and its illustrious counterparts are treasures reserved for the elite, the dream of owning a pink diamond is not beyond reach. Despite the closure of the Argyle mine, reputable jewelers still hold supplies of rare pink diamonds.
To find one within your price range, you'll need to balance size and quality. Many stunning stones could be a part of your own jewelry collection, allowing you to possess a piece of the pink diamond legacy.
Here's a look at some of VMK's high-quality pink diamonds:
This is a jaw-dropping 1.01 carat fancy intense purplish pink diamond
This0.40 carat fancy light pink diamond is a rare find from the famous Argyle mine
This heart cut 0.33 carat fancy intense pink diamondembodies romance
Looking for something else? Browse our entire pink diamond collection or reach out to us! We’ll help you find the perfect diamond and design a setting that reflects your personality.
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