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Hong Kong auction sets record for pink diamond

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Hong Kong auction sets record for pink diamond: A pink diamond set the highest price per carat for a diamond sold at auction, fetched $49.9 million on Friday in Hong Kong.

Sotheby’s Hong Kong‘s sale of the 11.15-carat Williamson Pink Star diamond brought in $392 million ($49.9 million). $21 million was the initial estimate.

Two fabled pink gems are the source of the name “Williamson Pink Star.” The first is the 23.60-carat Williamson diamond, which the late Queen Elizabeth II received as a wedding gift in 1947.The second is the 59.60-carat Pink Star diamond. That set a record when it was auctioned off in 2017 for a whopping $71.2 million.

The Williamson Pink Star is the second-largest pink diamond to offer at auction. Among the colored diamonds, pink diamonds are among the rarest and most expensive.

According to Tobias Kormind, managing director of 77 Diamonds, “This is an incredible outcome, illustrating the endurance of exceptional diamonds in a fragile economy.”

According to him, “hard assets like top-notch diamonds have a history of doing well even in times of turmoil.” Over the last ten years, the cost of some of the greatest-grade diamonds in the world has doubled.

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