Sotheby’s Brings ‘Pink Star’ Diamond to Hong Kong

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Sotheby’s announced today that it is bringing back the Pink Star diamond to the marketplace. The nearly 60ct Flawless Fancy Vivid Pink diamond was originally sold in Geneva three and a half years ago for a record price of $83m. Then the buyer reneged on his bid and Sotheby’s—which had guaranteed the stone for a reported $60m—took the diamond into inventory.

Last year, Sotheby’s sold off a portion of the stone to two other dealers, Diacore and Mellen Inc., but retained an ownership interest and stands to benefit from the commission should the stone sell in Hong Kong on April 4th. The estimate is $60m suggesting that Sotheby’s and its partners see the Asian market as strong enough to get a profitable sale done.