HomeBusinessAfrica-Mined Pink Diamond Becomes World’s Most Expensive Precious Stone

Africa-Mined Pink Diamond Becomes World’s Most Expensive Precious Stone


Pink Star Diamond
Pink Star

AFRICANGLOBE –  Pink Star, a 59.60-carat diamond mined in Africa in 1999 by De Beers, was auctioned Wednesday by Sotheby’s for a record $83m, making it the world’s most expensive precious stone.

According to report, a representative of the renowned New York diamond cutter Isaac Wolf, made the winning bid in Geneva for the rare gem which adorned a ring worn by a stationed model at the auction.

Isaac Wolf has renamed the kolanut-sized diamond the Pink Dream.

The winning bid almost doubles the previous record of $46.2m paid for the Graff Pink diamond in 2010.

“It’s really extraordinarily rare,” BBC quoted David Bennett, Sotheby’s auctioneer, as saying.

The pink diamond was 132.5 carat in its original state in 1999 and was cut and polished over two years by American designer Steinmetz Diamonds.

Sotheby’s has declined to name the seller and the market history of the pink stone.


By: Oyeniyi Adegoke 

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