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Business News/ News / World400 crore! 11.15-carat Williamson Pink Star diamond sells at record price

₹400 crore! 11.15-carat Williamson Pink Star diamond sells at record price

The initial estimate of Williamson Pink Star diamond was $21 million (over ₹160 crore).

Williamson Pink Star has been sold for over ₹400 crore at Hong Kong auctionPremium
Williamson Pink Star has been sold for over 400 crore at Hong Kong auction

On October 7, a pink diamond worth $49.9 million (over 400 crore) in Hong Kong set a record for the highest price paid per carat for a diamond sold at auction. The 11.15-carat Williamson Pink Star diamond fetched $49.9 million at auction through Sotheby's Hong Kong for $392 million HKD. The initial estimate was $21 million (over 160 crore).

Two renowned pink gems are the source of the name of the 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, and the second is the 59.60-carat Pink Star diamond, which set a record when it was auctioned off in 2017 for a whopping $71.2 million.

Also Read: Russia’s secret gem sales are dividing the diamond world

“The Williamson Pink Star that made history tonight, made me tear up a bit being at the auction room. So thankful to have spent so much time with this beauty this season before it was auctioned, studying and writing the book for it - and just being able to work on the project overall," wrote the Sotheby auctioneer who sold it.

The 11.15 carat Williamson Pink Star is known for its internal clarity. The CTF Pink Star, which was sold by Sotheby's in 2017, still holds the world auction record for any gem. It was the first internally-flawless fancy vivid pink diamond weighing more than 10 carats to be offered at auction.

Also Read: Queen Elizabeth-II death: Here's who will inherit Kohinoor diamond studded crown

The Williamson Pink Star has received high praise for its rarity and beauty throughout its journey from a rough stone weighing 32.32 carats to a finished stone weighing 11.15 carats, cut and polished by master cutters from Diacore.

“This is an astounding result, proving the resilience of top diamonds in a shaky economy," said Tobias Kormind, managing director of 77 Diamonds. “Hard assets such as world-class diamonds have a history of performing well even in times of instability," he said. “Some of the world’s highest quality diamonds have seen prices double over the last 10 years."

(With agency inputs)

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Sounak Mukhopadhyay
Sounak, spinning the digital news scene since 2012, crafts trendy articles for LiveMint.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 08 Oct 2022, 08:21 AM IST
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