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Pink diamond sold for record price

An enormous diamond known as the Pink Star has sold for more than 83 million US dollars (£52 million) at an auction in Switzerland, far surpassing its expected price.

Sotheby's said the sale of the vivid and flawless 59.60-carat pink diamond in Geneva is the highest price ever paid for a gemstone at auction.

Prior to the sale to the successful bidder, representing an anonymous buyer, the diamond was estimated to fetch more than 60 million US dollars (£37.6 million).

The sale came a day after the largest fancy vivid orange diamond ever sold at auction went for 35.5 million US dollars (£22.3 million) at a Christie's auction.

The auctions at Geneva's lakeside hotels draw well-heeled buyers from around the world seeking expensive jewels, artwork, wine and watches.

The exact sale price of the Pink Star was 76.325 million Swiss francs (£52.076 million).

AP

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