Pink diamond auctioned for record $71.2M in Hong Kong

On Tuesday, it also became the most expensive pink diamond ever auctioned. Tobias Kormind of 77 Diamonds, an online diamond jewelery seller, said he expects it to sell for more than $100 million.

Described as one of "the earth's greatest natural treasures", the oval-cut 59.6-carat "Pink Star" is the largest internally flawless pink diamond that the Gemological Institute of America (GIA) has ever graded.

A rare diamond known as the Pink Star has been sold in Hong Kong for more than $71m (£57m), setting a new world record for any gemstone at auction. The previous world auction record for a pink diamond was US$46.2 million for the 24.78 carat "Graff Pink" in 2010. Sotheby's said it was sold to a client who phoned in a bid.

It was sold for a hammer price of US$63.0 million, not including the buyer's premium.

Chelsea v Manchester City
But Saturday's surprise 2-1 home defeat to lowly Crystal Palace has revived hopes elsewhere that Chelsea could be vulnerable. Chelsea now sit seven points clear of Tottenham after Mauricio Pochettino's side closed the gap with a 2-0 win over Burnley.

In a quirk of auction history, the record price for the Pink Star is some $12 million lower than the $83-million offer Sotheby's adjudicated it for in 2013.

The most important diamond sales usually take place in Geneva. The record until now was held by the Oppenheimer Blue, which sold for $50m last May. Its color is a very nice pink and another astonishing feature of this diamond is that its crystals purity ranks among the 2% all over the world.

Sotheby's tried a new city for the Pink Star this time around.

Unearthed in Africa almost 20 years ago by De Beers, the CTF Pink was originally a colossal 132-carat rough diamond. Sotheby's says the buyer is Hong Kong jewelry company Chow Tai Fook, which beat out two other telephone bidders.

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