'Pink Star' Diamond Sells for Record $71.2 Million at Sotheby's Auction

'Pink Star' Diamond Sells for Record $71.2 Million at Sotheby's Auction

A rare 59.6 carat pink diamond described as “one of the world’s great natural treasures” has become the most expensive jewel ever sold, going for more than $71 million at auction in Hong Kong.

Bidding for the gem, which was found by De Beers at a mine in Africa in 1999, began at $56 million.

According to the Sotheby's auction house, the precious stone, which is the size of a plum, was bought after just five minutes' bidding. It was acquired by local jewelry retailer Chow Tai Fook.

"We're very happy," Sotheby's Asia Chairwoman Patti Wong said as cited by Associated Press. "I know there was a lot of talk about the economy in China not being as positive as it was a few years ago," but the results from its jewelry auction Tuesday, which included nearly 200 other lots, were very strong, she added.

Sotheby's worldwide chairman for international jewelry David Bennet, who presided over the auction, called it a "historic sale."

Read more: https://www.rt.com/business/383568-pink-diamond-record-auction/

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