Pink diamond breaks auction record

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The Pink Dream sold at Sotheby's Geneva for $83,187,381 (CHF 76,325,000), a world auction record for a diamond or jewel.
The Pink Dream sold at Sotheby's Geneva for $83,187,381 (CHF 76,325,000), a world auction record for a diamond or jewel.
The Pink Dream sold for $83,187,381 (CHF 76,325,000), an auction record for a jewel.

A dramatic pink diamond originally known as The Pink Star, now renamed as The Pink Dream, broke the world auction record for a diamond or jewel on Wednesday November 13 when it sold at a Sotheby’s Geneva auction for $83.1m.

Four bidders competed for the diamond, which is the largest internally flawless fancy vivid pink diamond that the Gemological Institute of America (GIA) has ever graded. The diamond was bought after nearly five minutes by the famous diamond cutter Isaac Wolf who has renamed it ‘The Pink Dream’ after the sale.

The diamond – lot 372 in the sale – received the highest colour and clarity grades from the GIA for pink diamonds. It has also been found to be part of a rare subgroup comprising less that 2 percent of all gem diamonds – known as Type IIa: stones in this group are chemically the purest of all diamond crystals and often have extraordinary optical transparency.

Mined by De Beers in Africa in 1999, the 132.5 carat rough diamond was cut and polished over a period of two years. Wednesday was the first time it had been presented at auction.