Why are pink diamonds so valuable?

The epitome of nature’s finest works, the Williamson Pink Star hit the price of $49.9 million or Rs 410 crore. It was auctioned in Hong Kong by Sotheby’s. The identity of the buyer remains undisclosed.

The Williamson Pink Star diamond is named after two other pink diamonds – the 59.60- carat, mixed-cut, oval Pink Star diamond that was sold in 2017 for $71.2 million and Queen Elizabeth’s 23.60-carat Williamson stone.

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The cost of a pink diamond ranges from $10,000 per carat for a less intense pink to $700,000 per carat for a deep and intense pink.

These diamonds were first found in India’s Kollur mine of Guntur district in Andhra Pradesh and can be traced back to 17th century.

Initially, the Williamson Pink Star was a rough stone weighing 32 carats, which later underwent the process of cutting and polishing to finally become the precious gem weighing 11.15 carats. It was cut by the master cutters from Diacore.

Other pink diamonds previously auctioned include ‘The Sakura’, which sold for $29.3 million in 2021; ‘The Grand Mazarin’ sold for $14.6 million dollars in 2017 and a pear-shaped fancy vivid pink diamond sold for $18 million in 2016