The “Pink Star” was promptly renamed to “Pink Dream” after Isaac Wolf, a New York based diamond cutter, purchased the gemstone for $83.2 million in Switzerland last week. The 24.78 carat pink diamond was once owned by Harry Winston. The final auction price, at Sotheby’s Geneva, blew away a previous world auction record for jewelry, on this same gemstone that was previously sold for $46.2 million to its previous owner in 2010.
The gemstone is the world’s largest internally flawless pink diamond graded by GIA.
What makes a diamond worth so much more in 4 years? Diamonds can be valued objectively, unlike fine art, where profits for the sparkling gemstones can fetch far higher prices.
[News Story Source: National Jeweler]