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Diamond Sells for World Record $71M

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It’s the most valuable gem in existence.

The 59.60-carat “Pink Star” diamond has sold for a record-setting $71 million at auction in Hong Kong.

The buyer was jewelry giant Chow Tai Fook, Bloomberg reports. Sotheby’s wrote in a tweet that the price is “a new record for any diamond or jewel at auction.”INSTORE pinkstar1a

The gem is the largest internally flawless, fancy vivid pink diamond ever graded by the Gemological Institute of America.

Before the auction, only one diamond had stood in the way of the Pink Star claiming the title of most gemstone ever sold at auction: the 14.62-carat Oppenheimer Blue. The fancy vivid blue diamond sold at Christie’s Geneva last year for nearly $58 million.

Oddly enough, the Pink Star sold for an even higher price — $83 million — in 2013 at Sotheby’s Geneva. But that sale was canceled.

Read more at Bloomberg

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Thinking of Liquidating? Think: Wilkerson

When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says.

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