Williamson Pink Star produces auction frenzy, sets new record

The stunning Williamson Pink Star has set a new record for price per carat after demolishing presale estimates in Hong Kong on Friday.

The Williamson Pink Star carried a presale estimate of $US21 million ($AU28.55 million) prior to the 7 October auction at Sotheby’s.

After 20 minutes of bidding, a private collector from Florida (US) was victorious, paying $US57.7 million ($AU78.46 million) for the cushion-shaped 11.15-carat fancy colour pink diamond.

The sale of the internally flawless vivid pink diamond has produced a new world record for price per carat, commanding $US5,178,000 ($AU7,040,000).

The Williamson Pink Star is the second largest diamond of that colour and clarity to feature at auction. The only diamond to exceed it is the 59-carat CTF Pink Star, which collected $US71.2 million ($AU96.81million) at Sotheby’s in 2017.

The Williamson Pink Star draws its name from two legendary pink diamonds. The first is the aforementioned CTF Pink Star, while the second is the 23.60-carat Williamson diamond which was presented to the late Queen Elizabeth II as a wedding gift in 1947.

Wenhao Yu, chair of jewellery and watches at Sotheby’s Asia, said: “The discovery of a gem-quality pink diamond of any size is an extremely rare occurrence, something that – with the recent closure of the Argyle mine – seemed, until recently, highly improbable.”

“Driven by a limited supply and rising demand, prices for top-quality large pink diamonds over five carats have increased exponentially over the past decade, serendipitously setting the scene for the appearance now of this one-of-a-kind stone.”

The Williamson Pink Star was discovered in Tanzania as a 32-carat rough and in 2021, was cut by Diacore, who acquired the rough for $US13.8 million.

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