January 31, 2023

On this undated picture launched by Sotheby’s, The Williamson Pink Star is seen. The pink diamond was auctioned off at $49.9 million in Hong Kong on Friday, Oct. 7, 2022, setting a world report for the best worth per carat for a diamond bought at public sale. (Sotheby’s by way of AP)

HONG KONG (AP) — A pink diamond was bought for $49.9 million in Hong Kong on Friday, setting a world report for the best worth per carat for a diamond bought at public sale.

The 11.15-carat Williamson Pink Star diamond, auctioned by Sotheby’s Hong Kong, bought for $392 million Hong Kong {dollars} ($49.9 million). It was initially estimated at $21 million.

The Williamson Pink Star attracts its identify from two legendary pink diamonds. The primary is the 23.60-carat Williamson diamond which was introduced to the late Queen Elizabeth II as a marriage present in 1947, whereas the second is the 59.60-carat Pink Star diamond that bought for a report $71.2 million at public sale in 2017.

The Williamson Pink Star is the second-largest pink diamond to seem at public sale. Pink diamonds are among the many rarest and most beneficial of the coloured diamonds.

“That is an astounding consequence, proving the resilience of prime diamonds in a shaky economic system,” stated Tobias Kormind, managing director of 77 Diamonds.

“Onerous property comparable to world-class diamonds have a historical past of performing properly even in instances of instability,” he stated. “Among the world’s highest high quality diamonds have seen costs double over the past 10 years.”

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