World’s Most Expensive Diamond ‘Pink Star’ Sells for £57m at Auction

The Worlds largest polished diamond, ‘the Pink Star’ has set a new world record after selling for more than  $71m (£57m) at auction. The record was previously held by the Oppenheimer Blue, which sold for $50m last May.

The 59.6 carat stone was bought after just five minutes of bidding at Sotheby’s in Hong Kong with a starting bid for the gem coming in at a whopping $56m. The precious stone was found by De Beers at a mine in Africa in 1999, and was cut and polished over a period of two years to achieve its distinctive oval shape.

Sotheby’s said the buyer was Hong Kong jewellery retailer Chow Tai Fook Jewellery.

File photo of the “Pink Star”, the most valuable cut diamond ever offered at auction, while on display at a Sotheby’s auction room in Hong Kong on March 29, 2017. The 59.6-carat diamond was sold for $71.2 million at an auction, setting a record for any diamond or jewel. (AP)