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Wednesday, October 2, 2013

The Pink Star diamond is Supposed to Fetch $60 million at Sotheby's Auction

The difference between the shop and auction sale is a price tag of the offered products. With the first it is fixed, while with the second it may skyrocket to unpredictable rates. The last is likely to happen this November during Sotheby's auction in Geneva. There is a 60-carat reason for that named the “Pink Star”.

A flawless huge (59.60 carats) vivid pink diamond is up for sale at Sotheby's in November with the starting price $60 million — the highest ever offered for a gemstone at the auction. This is one of the most rarest combination of diamond color and size what automatically ranks the Pink Star as the Earth's greatest natural treasure. The thing is, the majority of vivid pink diamonds weight not more than five carats, thus it make this giant off any scale.

The gem was presented to reporters on September 25 with the announcement that it will be a central part of auction house's Magnificent Jewels this fall. The Pink Star is an oval-cut gem set in a ring, which was graded by Gemological Institute of America (GIA) as flawless vivid pink diamond — the highest clarity and color rating.

While jewelers and diamond experts are interested in carat size, most women used to grab a ruler to visually imagine the diamond measures. So carats turned into centimeters or inches look more appealing that way. The Pink Star is 1.06 by 0.81 inches or 2.69 by 2.06 centimeters. It weights 11.92 grammes or 0.026 pounds. If sold at an asking price, it will fetch $1 million per carat or $5 million per gram.

After speaking about the price it's just the time to think about a potential buyer. There is handful of people who can afford to obtain such a costly thing. The gem of a color of rose champagne looks so glamorous but a person should rather be obsessed with it to agree to pay such a high price. On the other hand, this can be a nice option for investing since the cost of fancy colored diamonds is raising gradually.

Pink diamonds are among the most priciest diamonds due to their rarity. This is the Graff Pink that set the record by being sold for $46 million at similar Sotheby's auction in Geneva and ranks #1 in the list of most expensive diamonds of the world. The Pink Star is about twice as large as the record-holder, probably it will also set its own record in November. What do you think?

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