Sotheby’s Hong Kong created history at a stand alone auction held on October 7, 2022 at 8.30 pm local time, after the conclusion of the Magnifiicent Jewels Sale held earlier from 13.00 Hrs local time, when a 11.15-carat, cushion-shaped, fancy vivid, internally flawless pink diamond known as the Williamson Pink Star diamond, mounted on an 18k pink and white gold ring sold for a record price of HKD 453,223,000 (USD 57.7 million), almost three times its upper estimate of USD 21 million, becoming the second most valuable jewel ever sold at an auction.
After a 20-minute bidding battle, which included 50 bids, the Williamson Pink Star Diamond, was eventually purchased by an American Collector, setting a record per-carat price for any diamond or gemstone sold at an auction of US$ 5.2 million per carat, whiich surpassed the previous record of US$ 4 millon per carat set by the 12.03-carat, Internally Flawless, “Blue Moon of Josephine” diamond, which sold at Sotheby’s Geneva in the year 2015.
The record price of HKD 453,223,000 (USD 57.7 million) achieved by the Williamson Pink Star Diamond is only exceeded by another famous Pink diamond, the 59.60-carat, oval mixed-cut, fancy-vivid pink, internally flawless “Steinmetz Pink” diamond, later renamed the Pink Star in 2007, which was purchased by Chow Tai Fook in 2017 at Sotheby’s Hong Kong for US$ 71.2 million, and renamed CTF Pink Star.
Commenting on this record-breaking sale, Jonathan Abram, brand director for Hong Kong-based jewelry and gemstone dealer Ronald Abram, said, “This result was truly remarkable. No one was expecting the world record to be broken…but at an auction, you don’t have limitations on what you can get for a stone. You simply need two or more bidders with spending power and appetite. Sotheby’s should be happy with their results, especially in today’s market, with fewer mainland Chinese buyers who are vital to the high-jewelry market.”
Wenhao Yu, chairman of jewelry and watches at Sotheby’s Asia, commenting on the sale, said, “What an honor to have had the opportunity to handle a diamond of such breathtaking beauty. History was made in Hong Kong, at the auction. Ultimately, what we have witnessed in the room reflects the appetite for rare and impeccable gemstones amongst global collectors.”
Petra Diamonds recovered the 32.32-carat Pink Star rough diamond from their Williamson Mine in Tanzania. The rough diamond was then purchased from Petra Diamonds by the Switzerland_based diamond manufacturer Diacore for US$ 13.8 miillion. Diacore cut and polished 32.32-carat rough diamond to produce the 11.15-carat, cushion-shaped, fancy vivid, internally flawless pink diamond, which Diacore christened as the Williamson Pink Star diamond.
At the Stand Alone Auction the Lot containing the Williamson Pink Star Diiamond was allocated Lot No. 1115 and was titled A Magnificent Fancy Vivid Pink Diamond and Diamond Ring . Ring Size 5¾, 18k pink and white gold ring is set with the cushion-shaped fancy vivid pink Williamson Pink Star diamond weighing 11.15 carats, flanked by Trapeze-cut white diamonds on the shoulders of the ring and further accented by round brilliant-cut diamonds of pink tint, along the border of the Trapeze-cut diamonds.
GIA Report No. 5222335753, dated 8th June, 2022, states that the diamond is Fancy Vivid Pink, natural color and Internally Flawless. Diamond Type Classification report accompanying the lot, states that the diamond is determined to be Type IIa.
A Separate Monograph accompanying the Lot expresses the rarity and the characteristics of the stone, and states that “The Williamson Pink Star diamond, is among the rarest of all gemstones…It is extremely rare to encounter large pink diamonds with an unmodified color in any shape, particularly with saturation. In addition to its exceptional color, the clarity is Internally Flawless – a special combination. Examples such as this are some of the rarest gems ever discovered.”
The Ring is Stamped 750 for 18K pink and white gold, D11.15, D1.41 and D0.14 stating the weight of the fancy vivid pink diamond, the approximate total weight of the trapeze-cut diamonds and the brilliant-cut diamonds respectively.
