'Pink Star' Diamond Sells For $71 Million, Smashing Auction Record : The Two-Way : NPR

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He renamed the jewel "CTF PINK STAR" in honor of his late father.</b> </div> <div id="wrapper"> <header class="contentheader contentheader--one"><div class="branding branding--custom"> <a href="https://www.npr.org/sections/thetwo-way/"><picture><source srcset="https://media.npr.org/branding/sections/thetwo-way/branding_icon-aec8943f7fba654246d504d81ae2999f30b3106f-s1000-c100.webp" type="image/webp" data-format="webp" /><source srcset="https://media.npr.org/branding/sections/thetwo-way/branding_icon-aec8943f7fba654246d504d81ae2999f30b3106f-s1000-c100.png" type="image/png" /><img src="https://media.npr.org/branding/sections/thetwo-way/branding_icon-aec8943f7fba654246d504d81ae2999f30b3106f-s1000-c100.png" class="branding__image-icon" alt="The Two-Way" /></picture><div class="branding__inner"> <h2 class="branding__title branding__title--custom-text">The <b>Two-Way</b></h2> </div>  </a> </div>  </header> <section id="main-section"><article class="story story-blogpost"><a id="mainContent"></a><div class="slug-wrap"> <h3 class="slug"> <a href="https://www.npr.org/sections/thetwo-way/127602464/international/">International</a> </h3> </div> <div class="storytitle"> <h1>'Pink Star' Diamond Sells For $71 Million, Smashing Auction Record</h1> <input type="hidden" id="title522739361" value="'Pink Star' Diamond Sells For $71 Million, Smashing Auction Record" /> <input type="hidden" id="shortTitle522739361" value="'Pink Star' Diamond Sells For $71 Million, Smashing Auction Record" /> <input type="hidden" id="modelFullUrl522739361" value="https://www.npr.org/sections/thetwo-way/2017/04/05/522739361/pink-star-diamond-sells-for-71-million-smashing-auction-record" /> </div>  <div id="story-meta" class="story-meta has-byline"> <div class="story-meta__one"> <div class="story-meta__one-inner"> <div class="dateblock"> <time datetime="2017-04-05T16:18:00-04:00"> <span class="date">April 5, 2017</span><span class="time">4:18 PM ET</span> </time> </div> </div>  </div>  <div class="story-meta__two"> <div id="storybyline" class="storybyline-wrap linkLocation"> <div class="bucketwrap byline"> <div class="byline-container--block"> <div class="byline byline--block byline--has-link" aria-label="Byline"> <div class="byline__photo"> <a href="https://www.npr.org/people/466454757/merrit-kennedy" rel="author"> <picture><source srcset="https://media.npr.org/assets/img/2018/04/11/npr_68639654_sq-25f2f25db1a753c1235e023e92ce9cfdd82bdfe3.jpg?s=100&c=85&f=webp" class="img" type="image/webp" data-template="https://media.npr.org/assets/img/2018/04/11/npr_68639654_sq-25f2f25db1a753c1235e023e92ce9cfdd82bdfe3.jpg?s={width}&c={quality}&f={format}" data-format="webp" /><source srcset="https://media.npr.org/assets/img/2018/04/11/npr_68639654_sq-25f2f25db1a753c1235e023e92ce9cfdd82bdfe3.jpg?s=100&c=85&f=jpeg" class="img" type="image/jpeg" data-template="https://media.npr.org/assets/img/2018/04/11/npr_68639654_sq-25f2f25db1a753c1235e023e92ce9cfdd82bdfe3.jpg?s={width}&c={quality}&f={format}" data-format="jpeg" /><img src="https://media.npr.org/assets/img/2018/04/11/npr_68639654_sq-25f2f25db1a753c1235e023e92ce9cfdd82bdfe3.jpg?s=100&c=85&f=jpeg" class="img" alt="Merrit Kennedy 2018 square" data-template="https://media.npr.org/assets/img/2018/04/11/npr_68639654_sq-25f2f25db1a753c1235e023e92ce9cfdd82bdfe3.jpg?s={width}&c={quality}&f={format}" data-format="jpeg" /></picture> </a> </div> <p class="byline__name byline__name--block"> <a href="https://www.npr.org/people/466454757/merrit-kennedy" rel="author"> Merrit Kennedy </a> </p> </div> </div> </div>  </div> </div>  </div>  <div id="storytext" class="storytext storylocation linkLocation"> <div id="res522742203" class="bucketwrap image large"> <div class="imagewrap has-source-dimensions" data-crop-type="" style=" --source-width: 3917; --source-height: 2531; " > <picture> <source srcset="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s=1100&c=85&f=webp" class="img" type="image/webp" data-template="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s={width}&c={quality}&f={format}" data-format="webp" /> <source srcset="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s=1100&c=85&f=jpeg" class="img" type="image/jpeg" data-template="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s={width}&c={quality}&f={format}" data-format="jpeg" /> <img src="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s=1100&c=85&f=jpeg" class="img" alt="" data-template="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s={width}&c={quality}&f={format}" data-format="jpeg" /> </picture> <div class="enlarge-options"> <a class="enlargelink" href="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s=2600&c=100&f=jpeg">Enlarge this image</a> </div> </div> <div class="credit-caption"> <div class="caption-wrap"> <div class="caption" aria-label="Image caption"> <p> The Pink Star diamond, which fetched the highest price ever for a jewel offered at auction, is displayed at Sotheby's in Hong Kong on March 29. <b class="credit" aria-label="Image credit"> Vincent Yu/AP </b> <b class="hide-caption"><b>hide caption</b></b> </p> </div> <b class="toggle-caption"><b>toggle caption</b></b> </div> <span class="credit" aria-label="Image credit"> Vincent Yu/AP </span> </div> <div class="enlarge_measure"> <div class="img_wrap"> <picture> <source data-original="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s=2600&c=100&f=webp" type="image/webp"> <source data-original="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s=2600&c=100&f=jpeg" type="image/jpeg"> <img data-original="https://media.npr.org/assets/img/2017/04/05/ap_17088294714233_custom-460a32afdca7914011de9a5bf29fbc9c08346a8b.jpg?s=2600&c=100&f=jpeg" alt="" /> </picture> </div> </div> <div class="enlarge_html"> <div class="image_data"> <p class="caption">The Pink Star diamond, which fetched the highest price ever for a jewel offered at auction, is displayed at Sotheby's in Hong Kong on March 29.</p> <span class="credit" aria-label="Image credit"> Vincent Yu/AP </span> </div> </div> </div> <p>A huge, internally flawless, 59.60-carat diamond called the "Pink Star" went for a <a href="http://www.sothebys.com/en/auctions/2017/the-pink-star-hk0770.html">whopping $71.2 million at auction</a> in Hong Kong — the highest price ever for a jewel.</p> <p>The oval gem was purchased at Sotheby's by Hong Kong-based jewelry company <a href="http://www.chowtaifook.com/en/ourstory">Chow Tai Fook</a> in a bid placed over the phone by the chairman, who renamed the jewel "CTF PINK STAR" in honor of his late father.</p> <p>"Not only was the price more than double the previous record for a fancy vivid pink diamond, but it was also a new record for any work ever sold at auction in Asia," Sotheby's said in a statement.</p> <aside id="ad-backstage-wrap" class="ad-wrap backstage" aria-label="advertisement"> <div class="ad-header "><span>Sponsor Message</span></div> <div id="ad-backstage-News" class="ad-config ad-backstage has-refresh-enabled" data-ad-config='{"network":"\/6735\/","site":{"desktop":"n6735.NPR","mobile":"n6735.NPRMOBILE"},"zone":"News","targets":{"testserver":"false","isPodcastEpisode":"false","storyId":"522739361","agg":["103943429"],"blog":"103943429"},"location":"backstage","deferred":false,"isBetweenContent":true,"overflowCount":null,"hasRefreshEnabled":true,"isOutstreamVideoEnabled":true}'></div> <div class="ad-footer "></div> </aside> <p><a href="http://www.guinnessworldrecords.com/world-records/most-expensive-diamond">The previous record</a> for most expensive diamond sold at auction was $57.5 million for the 14.62-carat "Oppenheimer Blue" sold last May in Geneva.</p> <p>The Pink Star was mined by De Beers in an unspecified location in Africa in 1999. Originally 132.5 carats as a rough diamond, Sotheby's says it was "meticulously cut and polished over a period of two years."</p> <div id="res522739537" class="bucketwrap statichtml"> <iframe src='//players.brightcove.net/104524641001/default_default/index.html?videoId=5365511057001' allowfullscreen frameborder=2></iframe> </div>  <p>The auction house describes it as the "largest Internally Flawless Fancy Vivid Pink diamond that the Gemological Institute of America (GIA) has ever graded."</p> <p>It was sold just five minutes into bidding, <a href="http://www.bbc.com/news/world-asia-39486749">the BBC reports</a>.</p> <p>This is not the first time the jewel has gone up for auction. As The Associated Press reports: "In November 2013 it was auctioned for a record $83 million to New York Diamond cutter Isaac Wolf. However, Sotheby's revealed months later in its 2014 earnings report that Wolf defaulted on the transaction."</p> </div> <div class="tags"> <ul> <li><a class="tag tag--story"href="https://www.npr.org/tags/127938211/sotheby-s">Sotheby's</a></li> <li><a class="tag tag--story"href="https://www.npr.org/tags/172381123/diamonds">diamonds</a></li> </ul> </div>  <div class="share-tools share-tools--secondary" aria-label="Share tools"> <ul> <li class="share-tools__service share-tools__service--facebook"><button class="fbStory522739361" data-share-facebook='{"storyId": "522739361" }' data-metrics-ga4='{"category":"share","action":"share","clickName":"facebook"}' ><b class="share-tools__service-name">Facebook</b></button></li> <li class="share-tools__service share-tools__service--flipboard"><button class="story522739361" data-share-flipboard='{"storyId": "522739361" }' data-metrics-ga4='{"category":"share","action":"share","clickName":"flipboard"}' ><b class="share-tools__service-name">Flipboard</b></button></li> <li class="share-tools__service share-tools__service--email"><button class='share-tools__email-link' data-story-id='522739361' data-metrics-ga4='{"category":"share","action":"share","clickName":"email"}' ><b class="share-tools__service-name">Email</b></button></li> </ul> </div>  <div id="newsletter-acquisition-callout-data" data-newsletter="{"newsletterId":"news","title":"Up First","marketingHeader":"Sign Up For NPR's Up First Newsletter","frequency":"every day","shortDescription":"The stories you need to start your day, hand-picked for you every weekday. 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'Pink Star' Diamond Sells For $71 Million, Smashing Auction Record : The Two-Way : NPR