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59.6-Carat Pink Star Sold For Record $71.2M

Chow Tai Fook Chairman Henry Cheng Kar-Shun phoned in the winning bid of HK$553 million (US$71.2 million) for the 59.6-carat Pink Star diamond at Sotheby’s Hong Kong auction.

The Pink Star had, in 2013, been sold for a record $83 million at a Sotheby’s auction in Geneva, but the buyer, New York-based diamond cutter Isaac Wolf, defaulted on the deal and Sotheby’s was left holding the expensive stone.

The previous world record was held by the 14.62-carat Oppenheimer Blue, which sold for $50.6 million at Christie’s Geneva auction in May 2016.