“Pink Star” diamond

A huge flawless pink diamond, known as the “Pink Star” has been sold by Sotheby’s at auction in Geneva for a world record $US 83 million (including buyer’s premium).

The price for the 59.6 carat oval-shaped diamond, mounted on a ring, is the highest ever paid for a diamond at auction. The previous record was set just a month ago when the largest diamond ever sold at auction was bought for $US30.6 million at Sotheby’s in Hong Kong.

The price of $US 259,322 per carat for 118-carat egg-sized diamond was also the highest price per carat for a white diamond. Fancy coloured diamonds can achieve much higher prices per carat – the current record being $US1,800,000 per carat for a 5.5 carat blue diamond sold in London six months ago.

While these extremely rare diamonds are achieving record prices, the price of smaller diamonds has declined by about 2.5% in the past year.

Click here to read more about diamonds.