20 Mar '17, 4pm

S$84 million #pinkstar diamond goes back on sale next month

S$84 million #pinkstar diamond goes back on sale next month

LONDON (REUTERS) - A 59.60-carat diamond known as"The Pink Star" is returning to auction next month and could fetch a record US$60 million (S$84 million), three years since it was sold for even more - only for the buyer to pull out of the deal. The diamond was presented by Sotheby's in London ahead of the auction in Hong Kong on April 4. In November 2013, a Geneva auction of the stone fetched a world record US$83 million but the buyer, New York-based diamond cutter Isaac Wolf, could not pay up and defaulted. However, after some more successful auctions of coloured diamonds in recent years, the auction house said that now was a good time to try again. "The last few years we've had coloured diamonds perform extremely well, many new records been created at auction for the coloured diamonds, pinks and blues mainly, so we thought it was a good time to bring it to the market," D...

Full article: http://www.straitstimes.com/world/europe/s84-million-pink...

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