Sotheby’s Sets New World Auction Record For Any Diamond Or Jewel

Sotheby's

The Pink Star, a 59.60-Carat Oval Fancy Vivid Pink Internally Flawless Diamond, Sells for US$71.2 Million/£57 Million to Hong Kong Jeweler Chow Tai Fook And is Renamed “The CTF Pink Star”

Sotheby’s set a new world auction record for any diamond or jewel when The Pink Star, a 59.60-carat oval fancy vivid pink and internally flawless diamond, sold for US$71.2 million/£57 million. The buyer was Hong Kong jeweller Chow Tai Fook, with the winning telephone bid placed by their Chairman, Dr. Henry Cheng Kar-Shun, who has renamed the stone The CTF Pink Star.

“It is fitting that the owner of the most prestigious jeweller in Greater China should today break the record for the most valuable item ever sold in Asia as well as the most valuable diamond ever sold at auction – now appropriately named The CTF Pink Star – said Sotheby’s President and CEO Tad Smith, adding, “And Sotheby’s has been honoured and thrilled to serve this very discerning client for many years.”

The CTF Pink Star joins a number of outstanding stones in the collection of Chow Tai Fook including the Aurora Green, a 5.03-carat vivid green diamond acquired in 2016 for US$16.8 million, a new auction record for a green diamond, and the Cullinan Heritage, an exceptionally rare 507-carat rough diamond acquired for US$35.3 million in 2010 that was cut and polished over three years to create “A Heritage in Bloom”, a unique masterpiece of diamond jewellery. The Pink Star has been renamed ‘The CTF Pink Star’ in memory of the late Dr. Cheng Yu-Tung, father of the current chairman and founder of Chow Tai Fook, and commemorates the esteemed brand’s 88th anniversary.

Chow Tai Fook is a national winner of the 2016-2017 World Branding Awards, in the Retailer – Jewellery category for Hong Kong.