high drama at the pink diamond auction

The Pink Star diamond is displayed during a press preview at Sotheby's in Hong Kong

Just as we predicted, the Pink Star became the most-paid-for diamond in the history of auction. $83 million USD. (Poor “the Orange,” only the day before broke the record for most money spent per carat as well as most for an orange diamond. The Orange was the talk of the gem auction set for roughly 24 hours. Nobody’s talking about that any more. There goes your 15 minutes, Orange. Yesterday’s news.)

The Pink Star is about the size of plum, measuring 1.06” x 0.81” (2.69 x 2.06cm) and currently mounted in a ring setting. Although it seems we say this about every diamond, the Pink Star is one of the most rare stones in the world. (Along with a laundry-list of other jaw-droppers.) What makes the Pink Star “one of the rarest” is the carat-weight, totaling almost 60 while most pink diamonds tend to be less than 5 carats.

The other factor making the Pink Star so illustrious is its color. The GIA grades the colr of a stone on a scale and the pink in this diamond is the highest possible color grade that exists. the Pink Star DiamondThe scale (for example, in pink) runs as such: light fancy pink, fancy pink, fancy intense pink, fancy deep pink and fancy vivid pink. The Pink Star is in the highest caste, rated ‘fancy vivid.’ If you recall, the Pumpkin Orange had a similar rating ‘fancy vivd orange,’ make it one hell of a stone to behold.

As if reasons 1 & 2 weren’t enough, this rose-colored diamond is completely (internally) flawless.

The fancy vivid pink diamond has gone by 3 monikers already. In 2003, it was first unveiled as the “Steinmetz Pink.” Helena Christensen modeled it at an event in conjuncture with the Monaco Gran Prix. After its 2007 sale, the diamond was renamed the “Pink Star.” Isaac Wolf, who purchased the stone last Wednesday, renamed it the “Pink Dream,” which may be the cheesiest name he could have selected. Guess that’s why he’s a diamond-cutter in New York instead of a poet laureate.

If the auction was highly-anticipated, the actual bidding was nothing less than dramatic. The Pink Steinmetz/Star/Dream was the penultimate item at Sotheby’s Geneva. Upon first sight, gasps of awe were reported. A few of the elderly women fainted, monogrammed handkerchiefs clutched in bony hands…sorry, We were getting carried away.ʼThe bidding race Pink Star Diamond modelwas “an intense” five minutes between four contenders. It ended with a 60-something year-old man sporting a beard and a yarmulke facing off with a competitor whose bidding was phoned in and conducted in Mandarin. The phone guy countered with a bid of 67 million Swiss Francs and then a long silent pause followed, edges were the only part of the chairs occupied. Hush hovered in anticipation. Beard guy finally upped to 68 million Swiss Francs ($74 million.) The final price tag of $83 million includes Sotheby’s commission. (What a lucrative racket they’re in!)

After the bid, Sotheby’s David Bennet raised the gavel and stated, “Ladies and gentlemen, 68 million is the world record bid for a diamond ever bid and it’s right here.” The gavel clacked against its wooden base and the theme from “the Pink Panther” movie played as the winning pink-star-diamond-smashes-world-recordbid was officially confirmed. Hell, that’s the least amount of showmanship acceptable for a $9 million dollar commission. I can’t believe acrobats and trapeze artists didn’t spring from behind the stage and swing from the ceilings in celebration of the event. Maybe a color guard twirling  pink sparklers? $9-f*cking-million dollars and there weren’t even cupcakes? Again, it’s a heulluva racket you’re running there, Sotheby’s.

The previous record for a pink diamond sold at auction was $46 million, paid for the Graff Pink Diamond three years ago. The Graff is about half the size of the (sigh of derision) Pink Dream. Seriously, Isaac, did you let your three year-old name it? The diamond now sounds like cotton candy or saccharine…basically anything that could rot your teeth, not a diamond.

Pink Star DiamondThe beard guy refused to mention his name but confirmed he was a proxy bidder for some other guy whose identity was later revealed to be Isaac Wolf.

 

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About ♔ la dauphiine ♔

Connecticut-based jewelry monger, history buff, Mets fan. On the hum-drum side, call me a lauded poet, novelist and ghost-writer. (That's right, I haunt prose.)
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4 Responses to high drama at the pink diamond auction

  1. Angelyn says:

    did you let your three year-old name it?

    That rates another sigh of derision.

    Like

  2. aubrey says:

    As lustrous and luscious as any many-faceted plum should be. The one thing that would make this dear bauble perfect would be a scandalous history lying behind it – which can be said for all of us, I believe.

    Like

  3. Titanic Buff says:

    If they hadn’t pinned that unimaginative “The Orange” on it and gone along with your suggestion of the “Great Pumpkin” it’s moment of fame would have lasted longer!

    Hah! Pink Dream, indeed. I’d like to see someone take a bite out of it. But I guess if a person is going to dump that much money on a diamond they have the liberty to name it “Pink Dream” just like they could name it “Pink Toes” or “Pink Rock” or even “Pink Slip”. Just goes to prove though, just because a person possesses that much money doesn’t mean they have as much imagination. 😉

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it's not just a love-affair with my own voice

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