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November 14, 2013

Most Expensive Diamond Ever Sells for $80m

By Chris Boyle

Most Expensive Diamond Ever Pink Star Sotheby'sDiamond cutter Isaac Wolf has bought The Pink Star diamond for more than $80 million.

The world’s most expensive ever diamond has sold at auction for $83 million. The Pink Star, a 59.60-carat oval cut pink diamond, now holds the world record for any jewel.

New York-based diamond cutter Isaac Wolf bought the item at a Sotheby’s auction in Geneva. He beat out three other bidders and has renamed it The Pink Dream.

The diamond received the highest ever color and clarity grading from the Gemological Institute of America (GIA) prior to the auction. The stone is chemically the purest of all diamond crystals.

The price of The Pink Dream eclipses the previous record of $46.2 million paid three years ago for the Graff Pink jewel.

David Bennett, chairman of Sotheby’s jewelry division in Europe and the Middle East, said: “The Pink Star is a true masterpiece of nature. Its immense importance was reflected tonight in the strength of the bidding and we are thrilled that the record price it achieved earned it a place in history.

“Today’s record sale is further testimony to the strength and depth of the diamond and jewelry market.”

Sotheby’s Geneva has now also set the record for the highest jewelry sale total in history. It sold $199.5 million worth of jewels.

Other items on auction included the Walska Briolette Diamond brooch that sold for more than $10 million.

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