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Hong Kong Auction, A Rare Pink Diamond Sells For A Record $57.7 Million

Sotheby's stated that the 11.15-carat Williamson Pink Star fetched HK$453.2 million ($57.7 million) on Friday, the second-highest price paid at auction for any diamond.

According to Sotheby's, a rare pink diamond sold in Hong Kong for roughly $58 million, establishing a record for price per carat paid at auction for any diamond or gemstone. Sotheby's stated that the 11.15-carat Williamson Pink Star fetched HK$453.2 million ($57.7 million) on Friday, the second-highest price paid at auction for any diamond. The winning bid was made by an unidentified bidder from Boca Raton, Florida, and was more than double the expected $21 million sale price.

Rare Pink Diamond

The pink diamond was the second-largest ever sold at auction. Pink diamonds are the rarest and most valuable precious jewels on the global market. The world record for a pink diamond was achieved in 2017 when the CTF Pink Star was sold for $71.2 million in Hong Kong.

According to Wenhao Yu, chairman of jewellery and watches at Sotheby's Asia, Friday's sale "not only attests to the strong demand for high grade diamonds in Asia, but also a heightened awareness of the tremendous rarity of pink diamonds." The Williamson Pink Star was named after two other pink diamonds: the world-record-breaking CTF Pink Star and the Williamson Stone, a 23.6-carat diamond presented to Queen Elizabeth as a wedding present.

Tobias Kormind, managing director of UK jewel shop 77 Diamonds, said the "amazing" transaction demonstrated that high-quality diamonds could still command premium prices even in a difficult market. "Hard assets, such as world-class diamonds, have a track record of doing well even in times of uncertainty," he added.

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Billionaire Laurence Graff paid a record-breaking $46.1 million for a magnificent vivid pink diamond weighing 24.78 carats. Originally owned by his competitor Harry Winston, it now carries graff’s name and is a part of the legendary collection of rare diamonds.

We usually advise brilliant round diamonds with a cut grade of very good, ideal, or super ideal for engagement rings (also known as hearts and arrows). A high cut grade maximises a diamond’s beauty for a given carat weight.

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It’s crucial to have a concept of what you might prefer before starting your search because it will enable you to focus on fewer of the many engagement ring possibilities that are now available. Also, when you initially start browsing, it helps to have a few distinct design concepts and the overall budget because the variety can be overwhelming.

Here are Engagement Ring Trends 2023:

1. Modern Art-Deco
2. Colored Stones
3. Lab-Grown Diamonds
4. East-West Settings
5. Multiple Large Stones

The traditional round diamond form, which is the most common, may come to mind when you think of diamonds. But if you want something different, a tonne of alternative forms may be found to suit your unique taste and style. Each diamond shape has its own fire and brilliance because they are cut to different standards, altering how they reflect light.

The most popular kinds of diamonds are listed below:

1. Round Brilliant Cut Diamonds
2. Princess-Cut Diamonds
3. Marquise-Cut Diamonds
4. Cushion-Cut Diamonds
5. Emerald-Cut Diamonds
6. Radiant-Cut Diamonds
7. Pear-Shaped Diamonds
8. Oval Diamonds
9. Asscher-Cut Diamonds