December 7, 2022

Raven Tribune

Complete News World

In this undated photo released by Sotheby's, The Williamson Pink Star is seen. The pink diamond was auctioned off at $49.9 million in Hong Kong on Friday, setting a world record for the highest price per carat for a diamond sold at auction.

Pink diamond breaks record for auction in Hong Kong

In this undated photo released by Sotheby’s, Williamson’s pink star is seen. A pink diamond sold at auction for $49.9 million in Hong Kong on Friday, setting a world record for the highest price per carat for a diamond sold at auction. (Sotheby’s via The Associated Press)

Estimated reading time: less than a minute

A pink diamond sold for $49.9 million in Hong Kong on Friday, setting the highest price per carat at auction.

The 11.15-carat Williamson Pink Star diamond, which sold at Sotheby’s Hong Kong auction, sold for $49.9 million. It was originally estimated at $21 million.

The Williamson Pink Star derives its name from two legendary pink diamonds. The first is the 23.60-carat Williamson diamond that was given to the late Queen Elizabeth II as a wedding gift in 1947, while the second is the 59.60-carat Pink Star diamond that sold for a record $71.2 million at auction in 2017.

The Williamson Pink Star is the second largest pink diamond ever to appear at auction. Pink diamonds are among the rarest and most valuable colored diamonds.

“This is an amazing result, proving the resilience of the best diamonds in a fragile economy,” said Tobias Kormend, managing director of 77 Diamonds.

“Hard assets like world-class diamonds have a history of performing well even in times of instability,” he said. “Some of the highest quality diamonds in the world have seen prices double over the past 10 years.”

The latest global stories

More stories you might be interested in

See also  NYSE writedowns suggest Beijing may be willing to compromise on US review dispute analysts