Pink Diamond: Pink Diamond sold for $39 million in Hong Kong, broke auction record

In Hong Kong on Friday, a pink diamond was sold for 3.9 million Hong Kong dollars. This pink diamond broke the auction record and set a world record for the highest price per carat. The name of this 11.15 carat diamond is Williamson Pink Star. It was auctioned by Sotheby's Hong Kong. The Williamson Pink Star takes its name from two pink diamonds. The first is the 23.60-carat Williamson diamond that was received as a wedding gift to the late Queen Elizabeth II in 1947, while the second is the 59.60-carat Pink Star diamond that sold for a record US$72 million at auction in 2017.

Williamson Pink Star is the second largest pink diamond to come up for auction. Pink diamonds are the rarest and most valuable of the colored diamonds. Tobias Cormind, managing director of 77 Diamonds, said this is a surprising result, which shows the resilience of top diamonds in a volatile economy. He further explained that hard assets like world-class diamonds have a history of performing well even in times of volatility. The prices of some of the world's highest quality diamonds have more than doubled in the past 10 years.

It is known that recently a similar diamond, White Diamond, named The Rock, was auctioned in Geneva recently. This rare white diamond was found in a mine in South Africa. The weight of this diamond was 228.31 carats. Another 205.7 carat yellow diamond was also auctioned in this auction. The name of this diamond was The Red Cross Diamond. The record was also set by the auction of both the diamonds.