Scrolling news:

Lebanon: Nasrallah: Israel on a path towards “suicide” in Gaza

Palestine: Two Palestinians killed as tens of thousands protest Israeli assault across West Bank

Palestine: Amid Gaza ceasefire calm, at least 40 dead bodies are found

Palestine: Entire 20 members of one family in Gaza killed prior to ceasefire, as death toll tops 940

Palestine: Seventeen killed in early morning hours of Friday

Palestine: Israeli forces invade Azzun in W Bank, use Palestinian civilians as human shields

Palestine: 931 Palestinians from Jerusalem & inside Israel taken captive in 3 Weeks

Saudi Arabia behind effort to disarm the Palestinian Resistance

Palestine: Civilian casualties continue to rise; 15 killed Thursday night

Palestine: Israeli attacks in Gaza kill 20 on Thurs afternoon

Palestine: Twelve Palestinians kidnapped by Israeli army in Hebron, Nablus

Palestine: 33 Palestinians killed in pre-dawn Israeli attacks in Gaza

Palestine: List of 714 Palestinians killed between July 8 and July 24

Palestine: Toddler ‘killed in ICU’ as Israel bombs Gaza City hospital

Palestine: Two Palestinians killed by Israeli fire in protest march near Ramallah, W Bank

Palestine: Dozens feared dead as Israel shells UN shelter in Beit Hanoun

Iraq: UN Secretary-General meets Ayatullah Al-Sistani for the first time in Najaf

Pakistan: Allama Talib Jauhri’s son-in-law shot dead in Karachi

Palestine: 73 Palestinians killed on Wed in Gaza, total death toll at 695

Palestine: 21 Palestinians killed in early dawn strikes in Gaza

‘Pink Star’ diamond fetches record price at Geneva auction

14th Nov 2013

A diamond known as the “Pink Star” has sold for a record 68 million Swiss francs (roughly 61 million euros) at an auction in Geneva. It was the highest price ever paid for a gemstone at auction, Sotherby’s reported. 

The oval-shaped “Pink Star” diamond fetched a record $83 million after an intense five-minute bidding race at an auction in Geneva on Wednesday night, Sotherby’s said.

The flawless 59.60-carat pink diamond far exceeded expectations, having been given a pre-sale estimate of $60 million.

“It surpassed our estimate. It’s a large amount of money in itself but I don’t think this stone has a price,” said David Bennett, chairman of Sotheby’s jewellery division in Europe and the Middle East.

The bidding in the Geneva hotel, which was conducted in Swiss francs, started at 48 million francs ($52 million) and worked its way upwards million-by-million. The final sale price was 76.325 million Swiss francs, or $83.425 million, including commission fees.

Up to 150 people in the auction room broke into applause when Bennett brought down the hammer and the theme tune from the movie the “Pink Panther” was played as a tongue-in-cheek gesture.

The man who made the winning bid told reporters that he was buying it on behalf of an anonymous person whom he represented.

The diamond was the star lot at the Sotherby’s semi-annual jewellery sale in Geneva.

It took Steinmetz Diamonds two years to facet the jewel from a 132.5-carat rough diamond. It was first shown publicly in May 2003 as the “Steinmetz Pink,” then sold privately for the first time in 2007 when it was renamed “The Pink Star.”

The previous record was held by the 24.78 carat “Graff Pink” diamond. It sold for $46.2 million, including commission, at a Sotherby’s auction in 2010.

“Frankly when I sold the Graff three years ago, I thought it would be a record for a very long time. Tonight’s price is really quite extraordinary three years later,” Bennett said.

The sale comes a day after the largest orange diamond ever sold at auction went for $35.5 million at a Christie’s auction.

ccp/ch (AFP, AP)

 

http://www.dw.de/pink-star-diamond-fetches-record-price-at-geneva-auction/a-17225982

Leave a Comment

What is 13 + 8 ?
Please leave these two fields as-is:
IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

Sectarianism in the Middle East and its rise in the UK, Standpoint, Sahar TV. Interview 29 May 2013 and aired on 12 June 2013


Latest Tweets

The Muslim News

awards

Awards for Excellence

Read more