Pink diamond sells for record $49.9 million at Hong Kong auction

A pink diamond sold for $49.9 million in Hong Kong on Friday, setting a world record for the highest price per carat for a diamond sold at auction.

That 11.15 carats Williamson Pink Star Diamond, auctioned by Sotheby’s Hong Kong, was sold for HK$392 million (US$49.9 million). It was originally valued at $21 million.

The Williamson Pink Star takes its name from two iconic pink diamonds. The first is the 23.60 carat Williamson diamond that was presented the late Queen Elizabeth II as a wedding gift in 1947, while the second is the 59.60-carat Pink Star diamond that sold at auction in 2017 for a record $71.2 million.

The Williamson Pink Star is the second largest pink diamond to appear at auction. Pink diamonds are among the rarest and most valuable of the world colored diamonds.

“This is an amazing result that demonstrates the resilience of top diamonds in a shaky economy,” said Tobias Kormind, Managing Director of 77 diamonds.

“Hard assets like world-class diamonds have historically proven their worth even in times of instability,” he said. “Some of the world’s highest quality diamonds have doubled their prices in the last 10 years.”

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