Wednesday, November 13, 2013

'Pink Star' Diamond Sells for World Record $83 million at Sotheby's Geneva

Between this, the record $105 million for a Warhol and yesterday's auction record painting sale can there be any doubt about the giant pools of money sloshing around the globe?
From Reuters:
The "Pink Star", a flawless pink diamond the size of a plum, sold for 76.3 million Swiss francs ($83.02 million) in Geneva on Wednesday, a world record price for a gemstone at auction, Sotheby's said.
"The diamond was bought by Isaac Wolf and the diamond has been renamed The Pink Dream," said Matthew Weigman, Sotheby's worldwide director of sales communications.
'The Pink Star'
Wolf, a New York-based diamond cutter, was represented by a bidder in the room and Sotheby's said the final sale price included the "buyer's premium," or commission fees.

In all, four people, including two Asian clients, bid on the oval-shaped diamond, which was mounted on a ring and weighed 59.60 carats, he said.

As Sotheby's auctioneer David Bennett brought down the hammer in the Geneva salesroom, applause erupted. "You'll forgive me," he said, as the theme song from the "Pink Panther" was played.
The Pink Star was the star lot at Sotheby's jewels sale in Geneva, held in a heavily guarded hotel showroom.

'HISTORIC SALE'
It was the highest jewellery sale total for a single auction in history - $199.5 million, Sotheby's said.
"This was a really historic sale. We broke a number of records," Bennett told reporters.

"The pink diamond, I have no hesitation in saying, is a truly amazing royal stone, fit for any royal collection, fit for any museum collection....MORE
Previously:
You Thought the Rio Tinto Red Diamonds Were Baubles, You Dismissed the 118 Carat 'Perfect' Being Auctioned Tomorrow as Crass, Perhaps Monsieur et Madame Would be Interested In...
...The Pink Star