‘Pink Star’ diamond sells for record $71.2 million in Hong Kong

A 59.60-carat pink diamond fetches a world record $71.2 million after a bidding war between three phone bidders in Hong Kong on Tuesday. The “Pink Star”, the largest in its class ever graded by the Gemological Institute of America according to Sotheby's, set “a new record for any diamond or jewel at auction”, the auction house said. The diamond named the 'Pink Star' went to local jewellers. The candy sized diamond is the largest internally flawless diamond Pink diamond. The diamond had failed to sell in November 2013 when the buyer could not pay for its value at that time which was placed at $83 million.