Hong Kong: The highest price per carat for a diamond sold at auction was set by a pink diamond that fetched $49.9 million on Friday in Hong Kong.
Sotheby's Hong Kong's auction of the 11.15-carat Williamson Pink Star diamond brought in HKD 392 million ($49.9 million). $21 million was the initial estimation.
Two fabled pink gems are the source of the name of the Williamson Pink Star. The first is the 23.60-carat Williamson diamond, which the late Queen Elizabeth II received as a wedding gift in 1947, and the second is the 59.60-carat Pink Star diamond, which set a record when it was auctioned off in 2017 for a whopping $71.2 million, Associated Press reported.
The second-largest pink diamond to be offered at auction is the Williamson Pink Star. Among the coloured diamonds, pink diamonds are among the rarest and most expensive.
"This is an astounding result, proving the resilience of top diamonds in a shaky economy," said Tobias Kormind, managing director of 77 Diamonds.
"Hard assets such as world-class diamonds have a history of performing well even in times of instability," he said. "Some of the world's highest quality diamonds have seen prices double over the last 10 years."