Sotheby Auction in Hong Kong Sells Pink Diamond for $71.2 million

Sotheby’s auctioned a stunning 59.6 carat diamond known as the “Pink Star” which sold for $71.2 million in Hong Kong. This set a new world record for any diamond or jewel ever sold. This was an oval mixed-cut diamond which exceeded the previous records. The gemstone was sold at an even higher price at another Sotheby’s auction in Geneva, but the buyer could not come up with the money they say because of taxes.  The gem is the largest flawless fancy vivid pink diamond ever graded by the Gemological Institute of America. This shows that the market is shifting to Asia and taxation is helping to move things right along as per our model.