LONDON - A rare, dazzling pink diamond is expected to sell for an estimated $21 million when it goes up for auction in October, officials said.
The 11.15-carat cushion-shaped stone, called the "Williamson Pink Star," was described by auction house Sotheby’s as "one of the world’s purest, most saturated pink diamonds." The diamond was named after two other notable pink diamonds, including the record-breaking CTF Pink Star, a 59.60-carat oval mixed-cut diamond, which sold in 2017 for $71.2 million.
The Williamson Pink Star was also named in homage to the celebrated "Williamson" stone, a cut diamond of 23.60-carats given as a wedding present to Queen Elizabeth II in 1947.
It was gifted to the queen by Canadian geologist and royalist, Dr. John Thorburn Williamson, who owned the Williamson mine in Mwadui, Tanzania, where it was discovered.The Williamson Pink Star also originates from that mine in Tanzania, Sotheby’s said.A model holds the Williamson Pink Star in a provided image. (Credit: Sotheby’s) "The discovery of a gem-quality pink diamond of any size is an extremely rare occurrence - something that, with the recent closure of the Argyle mine, seemed until recently - highly improbable," Wenhao Yu, chairman of jewelry and watches at Sotheby’s Asia, said in a statement."Driven by a limited supply and rising demand, prices for top-quality large pink diamonds over 5 carats have increased exponentially over the past decade, serendipitously setting the scene for the appearance now of this one-of-a-kind stone," Yu added.