The Pink Star Diamond
We’ve shared about other extraordinary gems before (Hope Diamond and Napoleon Diamond Necklace) and wanted to share this amazing pink diamond as well. The CTF Pink Star Diamond, named for its current owner’s company, Chow Tai Fook Enterprises, is the most expensive engagement ring in the world, selling for $71.2 million in 2017. It is a Vivid Pink oval-cut diamond that is 59.60 carats. Originally uncovered by De Beers in Africa in 1999, the original 132.5 carat rough diamond was cut and polished into a flawless vivid pink diamond. The Pink Star has a purity level that only two percent of other gems around the world have. Additionally, pink diamonds are beautiful and rare and so their price can be up to 20 times higher than for a white diamond.
A bit of history now about this unusual gem. It was originally named the Steinmetz Pink after the diamond company that purchased it and spent over 20 months cutting it. After its public debut, it was part of the Smithsonian Museum’s “The Splendor of Diamonds” exhibit.
Steinmetz offered the Steinmetz Pink for sale in 2013 through Sotheby’s Geneva where it sold for $83 million. Unfortunately, the buyer defaulted on the payment and Sotheby’s, who had a guarantee of $60 million on the diamond, was required to acquire it. It was offered for sale again in 2017, creating a bidding war among three potential buyers. Chow Tai Fook Enterprises was the victor, paying that incredible $71.2 million and renaming the diamond to the CTF Pink Diamond.
Beautiful and rare, pink diamonds capture our imagination. Pink is just one of the many colors in which diamonds are available. Stop into Bridgewaters to see what other colors exist and find your next perfect gem!