VIDEO: World’s most valuable diamond could fetch $60 million


Calling Kim Kardashian (and Kanye West): A huge and rare pink diamond could fetch more than $60 million at auction in November as collectors chase exceptional pieces in a strong international jewellery market, Sotheby’s said on Wednesday.

The “Pink Star”, which weighs 59.60 carats, is the most valuable diamond offered at auction, it said, showing the oval stone with the top grading of vivid pink amid tight security at a luxury hotel.

“It is full of fire and light. If it sells it will be a record price for any gemstone so far at auction,” David Bennett, chairman of Sotheby’s jewelry division in Europe and the Middle East, told Reuters in Geneva, where it will be the star lot of the November 13 sale.

“The top end in all categories in auction prices are very, very strong. People are seeking the very rare, the exceptional, the outstanding. This stone is,” he said.

The current record is held by the “Graff Pink”, a 24.78 carat fancy intense pink diamond bought by Laurence Graff, the London-based jeweler known as “The King of Diamonds”, at a 2010 auction for 45.44 million Swiss francs ($45.75 million then).

The “Pink Star” was cut and polished from a 132.5 carat rough diamond mined by De Beers somewhere in Africa in 1999, according to Sotheby’s, which said it had no information on the exact geographic origin.

The stone, mounted on a ring, was first sold in 2007 and the current owner remains anonymous, a Sotheby’s spokeswoman said.

Eric Valdieu, a former Christie’s jewel expert now of Valdieu Fine Arts, recalls seeing the “Pink Star” displayed at the Smithsonian Institution in Washington in 2003.

“The buyers of a stone like this are very few, international fortunes in Latin America, Asia or the Middle East,” he said.

Rival Christie’s is offering three jewels from the collection of Bolivian tycoon Simon Itturi Patino among the pieces going under the hammer at its Geneva sale on November 12.

The pieces, including a 1930s emerald and diamond necklace by French jeweler Cartier estimated at $7-$10 million, feature rare gems and embody the taste of “The King of Tin” who founded the family dynasty, the private auction house owned by French billionaire Francois Pinault said in a statement on Tuesday.

“The Patino family had extraordinary things, objects which dealers and private collectors will go after with gusto,” Valdieu said.


News
Entertainment
Sports
Lifestyle
National

New statue of Penn State's Paterno set for…

By David DeKokHARRISBURG, Pennsylvania (Reuters) - Fundraising for a new statue depicting Joe Paterno "as the man he was and not Joe the football coach"…

Local

Future Boston Alliance invites you to #RidetheLine, support…

#RidetheLine aims to show the city, the nation, and the globe our creative impact as Boston citizens.

Local

(Update) Body of missing BU grad Eric Munsell…

The dead man pulled from the water at Boston's Long Wharf Wednesday afternoon was that of missing 24-year-old Boston University alumnus Eric Munsell, Boston Police said today.

National

On newly released tape, 'Squeaky' Fromme says was…

Manson Family member Squeaky Fromme told a mental health examiner in newly released interview the "X" she carved in her forehead was meant to separate her from "the system."

Music

Championship of Collegiate a Cappella: Students who are…

Tickets to this Saturday’s International Championship of Collegiate a Cappella reportedly sold out within 11 hours of going on sale.

Music

M.I.A. talks 'Matangi,' divinity, spontaneity and holograms

"There’s pressure for me to become a theatrical production like 'Glee,' or something" says M.I.A., "It’s like, 'the pressure’s on, bitches.'"

Movies

Tribeca: 'Goodbye to All That' star Paul Schneider…

Paul Schneider talks about his new film "Goodbye to All That," not acting too much and how he'd rather indulge in simple pleasures than play the scene.

The Word

Taylor Swift battles paparazzi daily at Tribeca penthouse

We're entranced by these photos of poor Taylor Swift leaving her Tribeca apartment.

NHL

NHL video highlights: Bruins edge Red Wings in…

NHL video highlights: Bruins edge Red Wings in overtime of Game 4

MLB

MLB video highlights: Yankees rout Red Sox, 14-5

Felix Doubront struggles for second time in five starts

NBA

Jason Collins named to Time's 100 Most Influential…

Jason Collins was named to the list after coming out as the first openly gay player to appear in an NBA game.

NFL

2014 NFL Mock Draft: Updated, new April 24…

2014 NFL Mock Draft: Updated, new April 24 version

Parenting

New study: Inside the wage gap between boys…

According to a new study, there's a wage gap between boys and girls, with boys earning more allowance for less chores.

Tech

From Apple TV to Fire TV, big changes…

Apple is set to launch a new generation of it's Apple TV, which grossed over $1 billion in 2013. But competition from Amazon and Google looms.

Style

Katy Perry releases a new Claire’s collection

Katy Perry expands her empire by releasing an accessories collection at Claire's.

Style

MAC & Proenza Schouler collection unveiled

MAC Cosmetics is releasing a new collection with Proenza Schouler.