The Pink Star Diamond: A Legendary Gem of Rarity
Among the countless treasures that lie deep within the Earth, few capture the imagination quite like diamonds. Over centuries, diamonds have symbolized wealth, love, beauty, and power. Some diamonds, however, stand out not only for their size or sparkle but for their sheer rarity and the stories that unfold around them. The Pink Star diamond is one such gem. A radiant pink jewel of almost unimaginable perfection, the Pink Star is more than just a diamond , it is a legend in itself, commanding attention every time it appears at auction and rewriting the records of value and prestige in the world of gemstones.
This is the story of the Pink Star diamond , its discovery, transformation, record-breaking worth, owners of the past, and where it resides today.
The Birth of a Rare Gem, Discovery and Origins
The Pink Star began its journey like all diamonds , hidden deep beneath the Earth’s crust, formed under immense pressure and heat over billions of years. What makes this stone extraordinary is its color. Natural pink diamonds are among the rarest on the planet. Unlike other diamonds, whose colors often result from the presence of trace elements, scientists believe pink diamonds owe their hue to a mysterious distortion in their atomic structure during formation. This distortion bends light in a way that produces their delicate, coveted blush tones.
The Pink Star was discovered in 1999 by De Beers in a South African mine. At the time of discovery, it was an astounding 132.5 carats in its rough state. To put this in perspective, most diamonds that make history weigh far less. The raw Pink Star was enormous, but it was not merely its size that impressed experts , it was the intensity and clarity of its pink color. Gemologists knew immediately that this was not just another find. It was destined to become a gem of legendary status.
Over the next two years, master diamond cutters and polishers from Steinmetz Diamonds, a company renowned for working with rare stones, painstakingly studied the rough diamond. Cutting such a rare stone is a monumental responsibility. A single wrong decision can diminish its value or compromise its structural integrity. Each facet had to be carefully planned to maximize both its size and brilliance while preserving its vivid pink color. After 20 months of meticulous labor, the rough diamond emerged as a dazzling 59.60-carat oval mixed-cut gem.
The world now had the Pink Star, certified by the Gemological Institute of America (GIA) as a Fancy Vivid Pink, Internally Flawless diamond , the highest possible grade for both color and clarity. In fact, at the time of certification, it was the largest known vivid pink diamond ever graded by the GIA.
Why the Pink Star is So Valuable
To understand the Pink Star’s worth, it is essential to appreciate its rarity. Diamonds are already rare, but pink diamonds make up less than 0.01% of all mined diamonds. Among those, stones of more than five carats are virtually unheard of. The Pink Star, at nearly 60 carats, is not only exceptional in size but also possesses extraordinary qualities:
Color: The GIA classification of “Fancy Vivid Pink” is the highest grade possible. Most pink diamonds fall into the lighter or less intense categories, making the Pink Star’s hue a once-in-a-lifetime phenomenon.
Clarity: The gem is “Internally Flawless,” meaning under 10x magnification, no inclusions can be seen. Many colored diamonds, especially pinks, have inclusions, which can lower their value , but the Pink Star has none.
Carat Size: At 59.60 carats, it dwarfs most other famous pink diamonds, many of which weigh less than 20 carats.
These attributes combined place the Pink Star in a category all by itself, ensuring its status as one of the most valuable gems ever unearthed.
Public Debut: The Steinmetz Pink
The newly polished gem was unveiled to the public in 2003 at a star-studded event in Monaco. It was presented as the Steinmetz Pink, named after the company that had cut it. To showcase its grandeur, supermodel Helena Christensen famously wore the diamond on a necklace at a Monaco fashion show. The event captured worldwide attention, cementing the stone’s reputation as a diamond of mythic proportions.
For years, the Pink Star toured museums and exhibitions, allowing the public to marvel at its brilliance. Most notably, it was displayed at the Smithsonian’s National Museum of Natural History in Washington, D.C., as part of its exhibition “The Splendor of Diamonds.” There, it was showcased alongside other legendary gems, including the De Beers Millennium Star and the famous Hope Diamond.
Record-Breaking Auctions: The Pink Star’s Journey Through Sales
2013: Sotheby’s Geneva Auction
The Pink Star first entered the auction world on November 13, 2013, at a Sotheby’s auction in Geneva. Excitement ran high as experts speculated that it would break records. The diamond sold for an astonishing $83 million, setting a new world record for the highest price ever paid for a gemstone at auction.
The winning bid came from diamond cutter Isaac Wolf, who intended to rename the stone the “Pink Dream.” However, the triumph was short-lived. Wolf and his investors defaulted on the payment, and Sotheby’s had to take the diamond back into its inventory, absorbing it into their balance sheet.
2017: Sotheby’s Hong Kong Auction
The Pink Star returned to the auction block in April 2017, this time in Hong Kong. Once again, expectations soared, and the diamond did not disappoint. It sold for $71.2 million to Chow Tai Fook Enterprises, a Hong Kong-based jewelry conglomerate. This sale set another record, making the Pink Star the most expensive diamond , and gemstone , ever sold at auction, a record it still holds.
The new owners renamed the gem the CTF Pink Star, honoring the late Dr. Cheng Yu-Tung, the founder of Chow Tai Fook.
Who Has Owned the Pink Star?
The ownership history of the Pink Star reflects its journey from discovery to legendary status:
De Beers (1999): Discovered in South Africa and sold to Steinmetz Diamonds.
Steinmetz Diamonds (2003): Cut and unveiled as the Steinmetz Pink.
Sotheby’s (2013): Sold at auction to Isaac Wolf, who defaulted. Sotheby’s retained ownership.
Chow Tai Fook Enterprises (2017–Present): Purchased for $71.2 million and renamed the CTF Pink Star.
The Pink Star Today, Where Is It Now?
As of today, the Pink Star is owned by Chow Tai Fook Enterprises, headquartered in Hong Kong. The company is one of the world’s largest jewelry retailers, with thousands of stores across Asia. The Pink Star is part of their private collection and symbolizes both their prestige and their commitment to rare gemstones.
Though not always on public display, the diamond occasionally makes appearances at exhibitions, trade shows, or private showcases. Its presence continues to generate media headlines and inspire awe among collectors and admirers.
How the Pink Star Stands Among Other Famous Diamonds
The world of legendary diamonds is small, and the Pink Star belongs at the very top. For comparison:
The Hope Diamond, famed for its blue hue and supposed curse, weighs 45.52 carats.
The Cullinan I (Great Star of Africa), the largest cut diamond in the world, weighs 530.20 carats but is colorless.
The Graff Pink, another fancy vivid pink diamond, weighs 24.78 carats and sold for $46 million in 2010.
Against these, the Pink Star’s nearly 60 carats and perfect vivid pink hue make it unparalleled.
The Symbolism of Pink Diamonds
Pink diamonds have long been symbols of romance, tenderness, and rarity. Their soft blush hues evoke emotions of love and uniqueness, which is why they are highly sought after for engagement rings and collections. Owning the largest and most flawless pink diamond in the world is not just a matter of wealth but also a declaration of exclusivity.
For Chow Tai Fook, the acquisition of the Pink Star was not only a financial investment but also a cultural statement, positioning them at the pinnacle of the jewelry world.
Future of the Pink Star
What lies ahead for the Pink Star? Given its record-breaking history, it is unlikely to come onto the auction market again soon. Its current owners view it as both a treasure and a long-term investment. Over time, as colored diamonds become even rarer , especially with the closure of major pink diamond sources like the Argyle mine in Australia in 2020 , the value of the Pink Star is expected to rise further.
Experts speculate that if it were ever to resurface at auction, it could easily surpass its own record and become the first diamond to cross the $100 million mark.
The Eternal Allure of the Pink Star
The Pink Star is more than just a gemstone. It is a story of rarity, human craftsmanship, and the unrelenting pursuit of beauty. From its discovery in South Africa to its record-breaking sales at Sotheby’s and its current resting place in Hong Kong, the Pink Star has captured the attention of the world at every step of its journey.
Its immense value lies not only in its physical qualities , size, clarity, and color , but in the legend it has built over decades. Today, it stands as a symbol of ultimate luxury, a beacon of the jewelry world, and a reminder that nature still holds mysteries beyond imagination.
In the centuries to come, the Pink Star will likely remain one of the most celebrated and coveted gemstones on Earth, ensuring its place in history as a diamond truly like no other. image/ sky
