Meet The Pink Star... The largest internally flawless fancy pink vivid diamond that the Gemmological Institute of America (GIA) has ever graded. This 59.6 carat diamond was sold for a whopping $94 million in Hong Kong at Sotheby's auction house.
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."
This wasn't the first time this jewel was 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."
The oval gem was purchased by Hong Kong-based jewelry company Chow Tai Fook in a bid placed over the phone by the chairman, who renamed the jewel "CTF PINK STAR" in honor of his late father.