Sotheby's Sells Record $71 Million Diamond to Chow Tai Fook
- Second time is the charm after 2013 sale of gem collapsed
- Jewelry chain wins auction after 5-minute contest in Hong Kong
Hong Kong-based jewelry retailer Chow Tai Fook bought a 59.6 carat pink diamond for about $71 million, setting the world record for the top auction price for any gem. The stone has an unusual distinction: it has attracted even higher bids in the past.
The jeweler made the HK$553 million winning bid for the Pink Star, ending a five-minute contest that included three phone bidders, Sotheby’s said Tuesday. The oval-shaped diamond dethroned the Oppenheimer Blue, which fetched $58 million in May at Christie’s.