Mar 012014

The Pink StarSome diamonds get around.  You might be familiar with these diamond names if you follow big diamonds:

The Steinmetz Pink
The Pink Star
The Pink Dream

It is the same diamond!  With so many names, don’t you think the little pink guy might be confused?  The diamond is in a bit of a jam right now.  In November 2013 it was sold at Sotheby’s auction for a record setting $83,187,381 USD.   That’s 83 million for a 59.60ct diamond.  The buyer was Isaac Wolf.

Isaac Wolf had changed the name from The Pink Start to The Pink Dream after he bought it.  Problem is, he did not actually purchase the diamond – so has the name now been changed?

Isaac Wolf did not have the cash to pay for it.  Sotheby’s has had to suck up the cost and place the diamond in their inventory and write off the auction fee.  They currently are holding the diamond with a value of $72 million placed on it.  They are still going after the dead beat buyer but are considering other alternatives.

Personally I don’t know why they don’t just list it up for auction again, perhaps it is bad karma or something.

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