In the pink: Diamond sets new world record

The ‘Pink Star’ diamond, which sold for €55m at a Sotheby’s auction yesterday, setting a world record.

The ‘Pink Star’, a huge, flawless pink diamond, has been auctioned for 68m Swiss francs (€55.2m) in Geneva, a world record price for a gemstone.

The oval-shaped diamond, mounted on a ring, weighed in at 59.6 carats. It was bought by a man bidding in the room, who said he was buying it on behalf of an anonymous person he represented.

“Ladies and gentlemen, 68m is the world record bid for a diamond ever bid and it’s right here,” Sotheby’s David Bennett said to applause as he brought down the hammer in the salesroom.

Sotheby’s said it was still calculating the final price, which will include the buyer’s premium.

It was the star lot at Sotheby’s semi-annual jewellery sale in Geneva, which followed Hong Kong auctions last month.

The previous record was held by the ‘Graff Pink’, a 24.78 carat fancy intense pink diamond bought for 45.44m Swiss frances.