Pink Star Diamond Expected to Sell for More than $60 Million
Diamonds might be a girl’s best friend, but not every girl is going to get her hands on the world’s most expensive diamond. However, they have a chance to view the world’s largest pink diamond until it sells next month. It’s currently on display at Sotheby’s.
Diamonds aren’t always crystal-clear, but that may be the most common color. Pink diamonds are especially rare, and this one especially valuable at 59.6 carats. The Pink Star, as it’s known, costs $1 million per carat! That’s probably due to the fact that this diamond has achieved the highest rating possible for a pink diamond because it’s so vivid. Steinmetz Diamonds did a good job cutting the diamond, which was originally mined in Africa by De Beers.A Sotheby’s representative couldn’t even find words to describe the rarity of the diamond. Those colored diamonds are known as “fancy” diamonds by some retailers.
Other colors include black, which are opaque, and yellow and green. Yellow diamonds are more common than pink, and Sotheby’s will be selling a blue diamond worth almost $20 million soon, too. Technically, it’s impurities in the diamond that gives it color, while a pure white diamond is free of those impurities. However, that doesn’t stop people from wanting a diamond in a color that matches their personality. And while the famous “Heart of the Ocean” might not be real, blue diamonds certainly are. They range in hue from light grey blue to dark violet blue.
Of course, the price could be more depending upon how much money bidders are willing to part with at next month’s auction in Geneva. A diamond of less than half the size, the Graff Pink, sold for $45.6 million, also from Sotheby’s. And some people have called this the most valuable diamond in the world. So you can bet that plenty of people will be willing to spend money on a the largest flawless diamond of its color, especially in times when the dollar has dropped in value. Wealthy people want to invest in assets like gems, precious metals and jewelry.
Asian investors are especially stockpiling precious gems. This has shrunk the number of diamonds that are currently available, which has driven up the price for pieces like the Pink Star. And this is one diamond investors are likely to pay top dollar for. Plus, people who want to emulate stars who like pink diamonds might be interested. For instance, Ben Affleck gave then-girlfriend Jennifer Garner a 6.1 carat diamond engagement ring when he popped the question. They’re still happily married, so maybe pink is the color of true love.
For everyone else who wants to invest or simply purchase a diamond to add to their own setting, more affordable options exist. They might not be as large as the Pink Star, but white and colored diamonds are readily available for discriminating consumers. Diamonds aren’t just popular for engagement rings, either. A solitaire pendant is always stunning, while smaller diamonds look good in bracelet settings, too. Of course, diamond earrings make a fantastic holiday, anniversary or birthday gift.
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