The Pink Star Diamond Breaks Auction Records

The Pink Star: 59.6 carat pink diamond. Photo from Sotheby's auction house. 

The Pink Star: 59.6 carat pink diamond. Photo from Sotheby's auction house. 

The previous world record for a pink diamond was set in 2010 by the 24.79 carat Graff Pink which was sold for $46.2 million. The Pink Star diamond also broke the record for all diamonds, a title previously held by the Oppenheimer Blue diamond, sold at a Christie’s auction in May for $58 million.

The previous world record for a pink diamond was set in 2010 by the 24.79 carat Graff Pink which was sold for $46.2 million. The Pink Star diamond also broke the record for all diamonds, a title previously held by the Oppenheimer Blue diamond, sold at a Christie’s auction in May for $58 million.

Sotheby's broke records on Tuesday at their Hong Kong auction house with the sale of "The Pink Star" for an astounding $71.2 million. The 59.6 carat pink diamond, was won by Hong Kong-based jewelry retailer Chow Tai Fook after a five-minute bidding war.  

The Pink Star diamond was the largest internally flawless, fancy vivid pink diamond ever graded by the Gemological Institute of America, according to Sotheby’s

The Pink Star diamond was originally mined in Botswana, Africa, by De Beers in 1999. The stone came from a 132.5 carat rough diamond. The cutting and polishing took two years of work.

The gem was previously auctioned off in 2014. Isaac Wolf, a diamond cutter, purchased the stone for $93 million at a Sotheby’s auction in Geneva. The diamond was then reclaimed by the auction house after Wolf failed to pay for it. Tuesday's winning bidder Chow Tai Fook has renamed it the CTF Pink Star after it purchased the diamond in honor of the late father of the jeweler retailer’s current chairman.

Giant Jade Stone Unearthed in Myanmar

The state of Kachin produces some of the best jade in the world

A giant jade stone weighing 175 tonnes has been uncovered by miners in Myanmar. The stone is 4.3m (14ft) high and 5.8m (19ft) long, and is reportedly worth an estimated $170m. It was found in a mine in the jade-producing Kachin state, in the north of the country.
Myanmar, also known as Burma, is the source of nearly all of the world's finest jadeite. The jade industry is responsible for nearly half of the country's GDP. 
One of the biggest markets for jade is in neighboring China, where it is known as the "stone of heaven".