Pink diamond breaks world file in Hong Kong public sale

A pink diamond was bought for $49.9 million in Hong Kong on Friday, setting a world file for the best worth per carat for a diamond bought at public sale.

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

The Williamson Pink Star attracts its title from two legendary pink diamonds. The first is the 23.60-carat Williamson diamond which was introduced to the late Queen Elizabeth II as a marriage reward in 1947, whereas the second is the 59.60-carat Pink Star diamond that bought for a file $71.2 million at public sale in 2017.

The Williamson Pink Star is the second-largest pink diamond to look at public sale. Pink diamonds are among the many rarest and Most worthy of the coloured diamonds.

“This is an astounding result, proving the resilience of top diamonds in a shaky economy,” mentioned 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 mentioned. “Some of the world’s highest quality diamonds have seen prices double over the last 10 years.”