What Is The Most Expensive Diamond In The World?

Most Expensive Diamond: As the world’s most expensive diamond ever sold at auction, Pink Star has certainly made a name for itself. It has unmatched colour, clarity, size, and cut. Read further for details.

What is the Most Expensive Diamond in the World? 

In terms of value, the diamond that takes the crown is the Pink Star Diamond. It sold for an astounding $62 million in 2013 and was auctioned off in Hong Kong by the famous jewellery company Chow Tai Fook. Ever since then, it’s been known as CTF Pink Star after the company’s founder. 

Its original form was an uncut stone weighing 132.5 carats, which De Beers mined in 1999. Famed for its unique set of attributes, it underwent meticulous cutting and polishing for nearly two years and emerged as a 59.60-carat internally flawless fancy vivid pink diamond.

What Makes The Pink Star So Expensive?

The Pink Star is the most costly diamond in the world because of a few unique features that set it apart from the others:

Unmatched Rarity: Pink diamonds make up less than 0.1% of the market, and even fewer are Fancy Vivid Pink.

Exceptionally Sized: The Pink Star stands at 59.60 carats, making it the largest diamond graded Fancy Vivid Pink by GIA.

Flawless Clarity: Since no inclusions can be found at the internals of the stone when viewed from 10x magnification, the diamond is internally flawless.

Historic Auction Record: It auctioned at a price higher than previously recorded gemstones which means, setting a new standard for auctioned gemstones.

Cultural Impact: The sale of this diamond was global news, indicating the impact and power rare gems have in the market.

Key Facts About The Pink Star Diamond:

Carat Weight: 59.60 carats

Colour: Fancy Vivid Pink

Clarity: Internally Flawless

Auction price: $83 million

Year sold: 2017

Auction House: Sotheby’s, Hong Kong

Mined by: De Beers

Buyer: Chow Tai Fook Enterprises

Original Name: Steinmetz Pink

Renamed: CTF Pink Star

Other Remarkable Diamonds Around the World:

Importance of Rare Diamonds:

1. Cultural Value: Rare diamonds like the Koh-i-Noor and Hope Diamond have royal and imperial legacies. These gems symbolise status, heritage, and national pride. They are often displayed in museums and royal collections, rather than sold.
   
2. Investment Potential: High-value diamonds serve as long-term investment assets. Their prices appreciate significantly over time, especially coloured diamonds. Auction results show rising global demand from collectors and investors.
   
3. Craftsmanship & Science: Expertly cut and polished diamonds, such as The Pink Star, are wonders of craftsmanship. Advanced grading methods and GIA certification guarantee authenticity. Their study also reveals geological history and rarity in the earth's crust.
   
4. Global Market Demand: The rising demand in Asia and the Middle East has increased prices. Natural fancy colour diamonds are particularly sought after due to scarcity. Countries like India and China are becoming key players in luxury diamond markets.
   

Interesting Facts:

• When the Cullinan Diamond was discovered in South Africa in 1905, its rough weight was 3,106 carats.
  
• The British Crown Jewels include the Koh-i-Noor, also known as the "Mountain of Light," which is so rich in legend that its worth is incalculable.
  
• One of the biggest pink diamonds in the world, the Daria-i-Noor is still one of Iran's crown jewels.
  
• Less than 30 red diamonds have ever been found, making them the rarest colour of all.
  
• Diamond auctions can attract billionaires, royalty, and celebrities all vying for a piece of history.
  

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