A gem retailer out of Hong Kong, Chow Tai Fook purchased a 59.6 carat pink diamond for approximately $71 million, setting the world record at the top closeout cost for any jewel. The stone has a strange refinement: it has pulled in much higher offers previously. The gem specialist made the winning offer for the Pink Star, finishing a five-minute challenge that included three telephone bidders, Sotheby's said Tuesday. The oval-formed precious stone deposed the Oppenheimer Blue, which got $58 million in May at Christie's.
In an eccentricity of sale history, the record cost for the Pink Star is some $12 million lower than the $83 million offer Sotheby's settled it for in 2013. That deal caved in on the grounds that the purchaser, jewel cutter Isaac Wolf, never paid, and the sale house needed to recover the stone. Chow Tai Fook's buy gives Sotheby's some reprieve after it neglected to offer other significant pearls a year ago, including the greatest rough diamond discovered in over 100 years and a blue precious stone ring that once had a place with Hollywood performer Shirley Temple.