Sotheby's Partners Up For 59 Carat 'Pink Star' Diamond

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Photos: Sotheby's

You might call it the most valuable diamond in the world, and you could be right. The 'Pink Star' diamond, which weighs an impressive 59 carats, has recently been the center of Sotheby’s new partnership with two other firms.

The diamond currently goes down in history as the largest fancy vivid, internally flawless, pink diamond ever graded by the Gemological Institute of America (GIA).

“Diacore and Mellen Inc. have acquired an ownership interest in one of the world’s natural treasures: the remarkable Pink Star diamond,” said Sotheby’s in an exclusive statement.

The diamond was originally sold at Sotheby’s Geneva Magnificent Jewels sale in the November 2013 for a record $83 million. Diamond cutter Isaac Wolf, the buyer, was reportedly a representative of a group of investors.

However, Sotheby’s soon announced about three months later in its annual report that Wolf and his investors had backed out of the sale.

According to the auction house, the three parties’ new formal partnership was purposed to “achieve the value of the 59.60-carat stone”. The diamond is currently in Sotheby’s inventory. While the auction house previously valued the oval-cut diamond at an estimate of $72 million, the financial details of the stone or its eventual fate has not been disclosed.

While Mellen Inc. is a New York based third generation, family-run private jeweler, Diacore is known to specialize in manufacturing rare stones, particularly those that are large and fancy colored.

The multi-national company is reportedly the original owner of the 132.5 carat rough diamond that the Pink Star was made from.

“From the moment it was unearthed as a rough diamond, we have always believed in the singular importance and value of the Pink Star,” said Diacore chairman Nir Livnat.

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