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Pink diamond breaks world record in Hong Kong auction

The 11.15-carat Williamson Pink Star diamond, auctioned by Sotheby’s Hong Kong, sold for $392 million Hong Kong dollars ($49.9 million). It was originally estimated at $21 million.

In this undated photo released by Sotheby's, The Williamson Pink Star is seen. The pink diamond was auctioned off at $49.9 million in Hong Kong on Friday, Oct. 7, 2022, setting a world record for the highest price per carat for a diamond sold at auction. (Sotheby's via AP)

A pink diamond was sold for $49.9 million in Hong Kong on Friday, setting a world record for the highest price per carat for a diamond sold at auction.

The 11.15-carat Williamson Pink Star diamond, auctioned by Sotheby’s Hong Kong, sold for $392 million Hong Kong dollars ($49.9 million). It was originally estimated at $21 million.

The Williamson Pink Star draws its name from two legendary pink diamonds. The first is the 23.60-carat Williamson diamond which was presented to the late Queen Elizabeth II as a wedding gift in 1947, while the second is the 59.60-carat Pink Star diamond that sold for a record $71.2 million at auction in 2017.

The Williamson Pink Star is the second-largest pink diamond to appear at auction. Pink diamonds are among the rarest and most valuable of the colored diamonds.

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“This is an astounding result, proving the resilience of top diamonds in a shaky economy,” said Tobias Kormind, managing director of 77 Diamonds.“Hard assets such as world-class diamonds have a history of performing well even in times of instability,” he said. “Some of the world’s highest quality diamonds have seen prices double over the last 10 years.”

First published on: 07-10-2022 at 10:37:21 pm
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