Rare pink diamond goes on display in Hong Kong

Sotheby’s previewed a rare pink diamond in Hong Kong on Thursday, with the gem expected to fetch more than 60 million US dollars at auction in Geneva next month.

The auction house said that the 59.6-carat oval cut pink diamond, called “the Pink Star,” is the rarest and most valuable of its kind.

The rough-cut was mined in Africa in 1999 by De Beers, and unveiled to the press and public in Monaco in 2003.

This is the first time the diamond has appeared for auction.

“Colored diamonds are one of the rarest treasures on Earth and they form a very, very small percentage of the diamonds that are discovered every year,” said Patti Wong, Chairman of Sotheby’s Asia.

“The sheer size and clarity and the purity of the color makes this one of the rarest diamonds ever in the history of diamonds,” she added.

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Its extraordinary size and color led the auction house to give its highest estimate yet – 60 million US dollars.

“It is simply the most important, and the most expensive, and the highest estimate we have ever put on a diamond or any piece of jewelry,” said Wong.

The Pink Star will next be showcased in the Middle East, before returning to Geneva for an auction scheduled for 13 November 2013.

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