This record-breaking pink diamond ring sold for nearly $60 million

written by Zoe Sutil, CNN

A stunning pink diamond sold for nearly $60 million, more than double the expected price.

The massive rock sold for 453.2 million Hong Kong dollars, or about 58 million dollars, on Friday, According to Sotheby’s auction house. The stone was expected to sell for about $21 million.
The 11.15 carat pink diamond, referred to as the “Williamson Pink Star”, is one of the purest pink diamonds ever auctioned, According to a Sotheby’s press release.

Wenhao Yu, Chairman of Sotheby’s Asia Jewelry and Watches Board, said in the release. “Due to limited supply and increasing demand, the price of high-quality large pink diamonds over 5 carats has skyrocketed over the past decade, fortuitously setting the scene now for this one-of-a-kind stone.”

The pastel-colored diamond is named in honor of two other pink diamonds, the CTF Pink Star, which sold for $71.2 million in 2017, and the “Williamson” diamond, a pink diamond gifted to Queen Elizabeth II.

In this undated photo released by Sotheby’s, Williamson’s pink star is seen. A pink diamond auctioned for $49.9 million in Hong Kong on Friday, October 7, 2022, setting a world record for the highest price per carat for a diamond sold at auction. attributed to him: Sotheby’s / AP

The Williamson Pink Star was cut from a 32-carat rough diamond that was mined at the Williamson Mine in Tanzania, Sotheby’s says.

The stone is unique in size and color. Pink diamonds are among the rarest of variants, according to Sotheby’s, and this rock is a special place because of its purity and clarity.

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Hong Kong was the diamond’s last stop after traveling on a tour that included Dubai, Singapore and Taipei.

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