Few diamonds have a story as extraordinary as the Pink Star.
Mined as a 132.5-carat rough stone in Africa in 1999, the diamond was transformed through years of cutting and polishing into a 59.60-carat oval pink diamond of extraordinary rarity. It later became famous around the world after selling for $71.2 million at Sotheby’s Hong Kong in 2017.
That sale made the Pink Star one of the most famous diamonds in the world and, at the time, the most expensive gemstone ever sold at auction. The stone was later renamed the CTF Pink Star after its purchase by Hong Kong jeweler Chow Tai Fook.
But the $71.2 million sale was not the beginning of the story.
Before that record-breaking auction, the same diamond had already attracted an $83 million winning bid in Geneva in 2013. The buyer ultimately failed to complete the purchase, creating one of the most unusual episodes in modern diamond auction history.
Here is the full story of the Pink Star Diamond.
What Is the Pink Star Diamond?
The Pink Star is a 59.60-carat oval mixed-cut Fancy Vivid Pink diamond with an Internally Flawless clarity grade from the Gemological Institute of America (GIA).
Its combination of size, color, clarity and rarity is what makes it extraordinary.
The GIA identified the Pink Star as the largest known natural-color Fancy Vivid Pink diamond in its grading records and, at the time, the largest Flawless or Internally Flawless Fancy Vivid Pink diamond it had graded.
The diamond has also been known by several names during its history:
- Pink Star
- Steinmetz Pink
- CTF Pink Star
Its original polished name, the Steinmetz Pink, came from Steinmetz Diamonds, the company associated with cutting and developing the stone.
Where Was the Pink Star Diamond Found?
The story begins in 1999, when De Beers mined a remarkable 132.5-carat rough diamond in Africa.
The rough stone was dramatically larger than the finished Pink Star. After cutting and polishing, the final gemstone weighed 59.60 carats.
That means a substantial amount of the original rough material was removed during the cutting process.
This is one of the realities of creating an exceptional diamond: maximizing carat weight is not always the goal. With a rare colored diamond, cutters must balance weight retention with color, clarity, proportions, symmetry and overall beauty.
The Pink Star became an extreme example of that process.
From 132.5 Carats of Rough to a 59.60-Carat Diamond
Transforming the rough stone into the Pink Star was not a quick process.
According to Sotheby’s, the 132.5-carat rough diamond was meticulously cut and polished over approximately two years.
The finished diamond was an oval mixed cut.
Its cutting journey was particularly important because the stone had to preserve an exceptional pink color while also producing a polished diamond with outstanding clarity and visual appeal.
The result was a 59.60-carat diamond with a remarkable combination of:
- Fancy Vivid Pink color
- Internally Flawless clarity
- 59.60-carat finished weight
- Oval shape
- Natural color
That combination is extraordinarily difficult to find.
Why Was It Called the Steinmetz Pink?
After being cut, the diamond became known as the Steinmetz Pink.
The name came from the Steinmetz group, which acquired the rough diamond and oversaw its transformation into the polished gemstone.
The diamond was eventually unveiled publicly in 2003.
At that point, the stone had already become an important example of the extraordinary rarity of large natural pink diamonds.
It was not simply a large pink diamond. It combined enormous size with an intense color grade and exceptional clarity.
The Pink Star’s Exceptional GIA Grade
One of the biggest reasons the Pink Star became so valuable is its GIA grading.
The diamond received a grade of Fancy Vivid Pink for color and Internally Flawless for clarity.
For colored diamonds, color is particularly important.
A pink diamond’s value is influenced by factors such as:
- Hue
- Tone
- Saturation
- Carat weight
- Clarity
- Cut
- Origin
- Overall rarity
The strongest pink diamonds can command extraordinary prices because naturally occurring pink color is exceptionally rare.
For readers interested in how diamond color affects value more broadly, understanding the difference between ordinary color grades and fancy color diamonds is essential.
The Pink Star’s First Major Auction: $83 Million
The Pink Star’s auction history became particularly dramatic in 2013.
Sotheby’s offered the diamond at auction in Geneva, where it attracted enormous attention.
The winning bid reached approximately $83 million, which was an extraordinary amount for any gemstone. The buyer was New York diamond cutter Isaac Wolf.
At that moment, the Pink Star appeared to have established a new benchmark for the world’s most valuable diamond.
But there was a problem.
The purchase was never successfully completed.
What Happened to the $83 Million Sale?
The buyer ultimately defaulted on the purchase.
As a result, the Pink Star remained with Sotheby’s rather than transferring permanently to the winning bidder.
This created an unusual situation.
The diamond had technically attracted an $83 million winning bid, but that was not the same thing as a completed $83 million sale.
The distinction matters when discussing the Pink Star’s history.
In 2017, the diamond returned to auction in Hong Kong.
The $71.2 Million Pink Star Sale
On April 4, 2017, the Pink Star went under the hammer at Sotheby’s Hong Kong.
This time, the auction ended successfully.
The diamond sold for HK$553 million, or approximately $71.2 million, including the buyer’s premium.
The winning buyer was Chow Tai Fook, the major Hong Kong jewelry company.
The diamond was subsequently renamed the CTF Pink Star.
The sale was significant for several reasons.
It established a new auction record for a diamond or gemstone at the time and became one of the defining moments in the market for exceptional fancy-color diamonds.
Why Did the Pink Star Sell for $71.2 Million?
A $71.2 million price tag can sound almost impossible until you consider what the buyer was actually purchasing.
The Pink Star combined several exceptionally rare characteristics in a single stone.
1. Natural Pink Color
Large natural pink diamonds are extremely rare.
The strongest pink colors are particularly sought after by collectors because their supply is limited and individual stones can be almost impossible to replace.
2. Exceptional Color Intensity
The Pink Star was graded Fancy Vivid Pink.
The word “Vivid” matters.
Fancy-color diamonds are evaluated differently from traditional colorless diamonds, with the intensity and quality of color playing a major role in value.
3. Enormous Size
At 59.60 carats, the Pink Star is exceptionally large for a vivid pink diamond.
Large diamonds become increasingly rare as carat weight rises.
Finding a large rough diamond is already difficult. Finding one capable of producing an intensely colored, exceptionally clear pink diamond is far rarer.
4. Exceptional Clarity
The Pink Star received an Internally Flawless grade from GIA.
That means the stone’s internal clarity was extraordinary under the grading conditions used by GIA.
5. Proven Auction History
The Pink Star had already become famous before its successful 2017 sale.
Its earlier $83 million bid, the failed transaction and subsequent auction all contributed to its status as one of the world’s most recognizable diamonds.
Pink Star Diamond vs. Graff Pink
The Pink Star is often compared with another famous pink diamond: the Graff Pink.
The Graff Pink weighs 24.78 carats, making it much smaller than the 59.60-carat Pink Star.
The Graff Pink sold for approximately $46.2 million at Sotheby’s Geneva in 2010.
The comparison illustrates just how unusual the Pink Star is.
Both stones are exceptionally rare pink diamonds, but the Pink Star is more than twice the weight of the Graff Pink.
Of course, diamond value is not determined by carat weight alone. Color quality, clarity, cut, provenance and market conditions all matter.
Pink Star Diamond vs. Other Famous Colored Diamonds
The Pink Star belongs to a very small group of famous colored diamonds that have achieved extraordinary auction prices.
Other notable examples include:
- Graff Pink
- Blue Moon of Josephine
- Oppenheimer Blue
- Williamson Pink
- Pink Promise
The market for these stones demonstrates something important about diamonds: the rarest gems are often valued more like unique works of art or collectibles than ordinary jewelry.
A one-of-a-kind natural diamond cannot simply be replaced when it is sold.
Is the Pink Star Still the Most Expensive Diamond?
There is an important distinction between total auction price and price per carat.
The CTF Pink Star’s $71.2 million auction result remains a landmark total price for a gemstone.
However, other colored diamonds have subsequently achieved remarkable prices per carat.
For example, Sotheby’s Williamson Pink Star sold for $57.7 million in 2022. At 11.15 carats, that worked out to more than $5 million per carat and established a record price per carat for a diamond or gemstone at the time.
So when talking about “the most expensive diamond,” it is important to specify whether you mean:
- Highest total auction price
- Highest price per carat
- Most expensive pink diamond
- Most expensive blue diamond
- Highest price ever offered at auction
Those are not necessarily the same record.
How Rare Are Pink Diamonds?
Pink diamonds are among the rarest natural fancy-color diamonds.
Unlike traditional colorless diamonds, where the absence of noticeable body color is generally desirable, fancy-color diamonds are prized for their natural color.
Pink diamonds are especially interesting because scientists have long studied the geological mechanisms responsible for their color.
Large stones with intense pink coloration are extraordinarily uncommon.
That rarity is a major reason famous pink diamonds can command prices that are far beyond those of conventional diamonds of similar weight.
If you’re comparing different diamond colors, it is also useful to understand how pink diamonds compare with other famous hues such as blue diamonds. The comparison between pink diamonds and blue diamonds provides useful context for understanding why fancy-color diamonds can have such different values.
What Happened to the Pink Star After the Auction?
Following the 2017 sale, Chow Tai Fook became the owner of the diamond and renamed it the CTF Pink Star.
The successful sale transformed the diamond from a famous gemstone into an important piece of jewelry history.
Its story now includes several different chapters:
1999: A 132.5-carat rough diamond was mined by De Beers.
1999–2001: The rough stone was cut and polished over approximately two years.
2003: The finished pink diamond was publicly unveiled.
2013: It received an $83 million winning bid at Sotheby’s Geneva, but the transaction was not completed.
2017: The diamond sold successfully for $71.2 million at Sotheby’s Hong Kong.
2017 onward: It became known as the CTF Pink Star.
What Makes the Pink Star Different From an Ordinary Pink Diamond?
The Pink Star is not simply valuable because it is pink.
Its value comes from the unusual combination of multiple characteristics.
Imagine separating the diamond’s attributes:
Color: Fancy Vivid Pink
Clarity: Internally Flawless
Weight: 59.60 carats
Origin: Natural diamond
Shape: Oval
History: Multiple major international auctions
Each characteristic would make a diamond notable on its own.
Together, they create a gemstone that is extraordinarily difficult to replicate.
That is the central reason the Pink Star became so valuable.
What the Pink Star Teaches Us About Diamond Value
The Pink Star also provides an interesting lesson for ordinary diamond buyers.
A diamond’s price is not determined simply by how many carats it weighs.
The traditional 4Cs — cut, color, clarity and carat weight — are fundamental to understanding diamond quality, but fancy-color diamonds introduce another layer of complexity.
For a typical engagement ring, buyers are usually balancing beauty, quality and budget.
For a stone like the Pink Star, rarity becomes much more important.
It belongs to an entirely different category of the diamond market.
That is why comparing the price of the Pink Star with the price of a normal 1-, 2- or 3-carat engagement-ring diamond would be misleading.
Could You Buy a Pink Star Diamond?
Not realistically.
The original Pink Star is a unique collector’s diamond rather than an ordinary retail gemstone.
But the story does demonstrate why some buyers are attracted to fancy-color diamonds.
If you like the look of pink diamonds but are working with a normal engagement-ring budget, there are many more accessible options, including smaller natural pink diamonds and lab-grown pink diamonds.
The important thing is to understand the differences in origin, grading, color treatment and pricing before buying.
The Legacy of the Pink Star
The Pink Star’s story is remarkable because it combines almost every element that makes famous diamonds fascinating.
It began as a large rough diamond.
It required years of expert cutting and polishing.
It became a spectacular 59.60-carat Fancy Vivid Pink diamond.
It received one of the highest possible clarity grades.
It attracted an $83 million bid that collapsed.
Then it returned to auction and successfully sold for $71.2 million.
Finally, it received a new name: the CTF Pink Star.
Few diamonds have had such a dramatic journey from mine to auction house.
And that is why the Pink Star remains much more than a $70 million diamond.
It is a story about rarity, craftsmanship, risk, collecting and the extraordinary prices that the world’s rarest natural diamonds can command.
Frequently Asked Questions
How much did the Pink Star diamond sell for?
The Pink Star ultimately sold for $71.2 million at Sotheby’s Hong Kong in April 2017, including the buyer’s premium. That sale established a record for the most expensive diamond or jewel ever successfully sold at auction.
Who bought the Pink Star diamond?
The Pink Star was purchased in 2017 by Chow Tai Fook, the Hong Kong-based jewelry group. After the sale, the diamond was renamed the CTF Pink Star in honor of the company.
How big is the Pink Star diamond?
The finished Pink Star weighs 59.60 carats, or about 11.92 grams. It is an oval mixed-cut diamond and was created from a 132.5-carat rough stone. Its finished weight makes it one of the largest known Fancy Vivid Pink diamonds of its quality.
Where was the Pink Star diamond found?
The Pink Star was mined by De Beers in South Africa in 1999 as a 132.5-carat rough diamond. It was subsequently cut and polished over approximately two years before becoming the 59.60-carat Pink Star.
Why is the Pink Star diamond so valuable?
The Pink Star is valuable because it combines several extremely rare characteristics: large size, Fancy Vivid Pink color, Internally Flawless clarity, and natural origin. Pink diamonds are exceptionally rare, and large stones with strong color and high clarity are rarer still. The Pink Star is also a Type IIa diamond, a chemically pure category that is uncommon among natural diamonds.
Is the Pink Star diamond flawless?
Yes, the Pink Star was graded Internally Flawless (IF) by the GIA. This means the GIA found no inclusions visible under the conditions used for its clarity grading. It is important to distinguish Internally Flawless from simply saying “flawless,” because the official GIA grade is Internally Flawless.
What happened to the Pink Star diamond in 2013?
In November 2013, the Pink Star sold at Sotheby’s Geneva for about $83.2 million to New York diamond cutter Isaac Wolf, who said he was representing a group of investors. However, the buyers failed to complete the payment, so the transaction was canceled and the diamond returned to Sotheby’s inventory.
Is the Pink Star the most expensive diamond ever sold?
Yes, when referring to successfully completed auction sales. The Pink Star sold for $71.2 million in 2017, setting the auction record for the most expensive diamond or jewel ever sold. Its earlier 2013 sale for approximately $83.2 million does not count as a completed sale because the winning bidder defaulted on payment.
What is the Pink Star diamond worth today?
There is no publicly confirmed current market valuation for the Pink Star because it is not currently being offered at a public auction. Its most reliable public benchmark remains the $71.2 million price achieved in 2017. Because exceptional pink diamonds are extremely rare and market conditions change, a hypothetical value today should not be presented as a confirmed price without a new appraisal or sale.
Final Thoughts
The Pink Star Diamond is a perfect example of how extraordinary diamonds can become more than jewelry.
Its journey from a 132.5-carat rough stone to a 59.60-carat Fancy Vivid Pink gemstone took years of expertise. Its failed $83 million auction in 2013 added an unexpected twist, while its successful $71.2 million sale in 2017 cemented its place in diamond history.
For everyday diamond shoppers, the Pink Star may be far outside the realm of an engagement-ring budget. But its story offers a fascinating lesson: when exceptional color, clarity, size and rarity come together in one natural diamond, the resulting value can be extraordinary.
