£57m Pink Star diamond sold at auction

A oval shaped 59.6 carat flawless Pink Star diamond has been sold in Hong Kong for £57m ( $71m), setting a new world record for any gemstone at auction.

The largest polished diamond in its class wen under the hammer, in the past it sold for $83m in Geneva in 2013, but the buyer defaulted. The last record until now was held by Oppenheimer Blue, which was sold for $50m in May2016.

The rare largest pink diamond ever found in the history of mankind, was found by De Beers at a mine in Africa in 1999 and cut over a period of two years, the auction began at $56m.

According to Sotheby the buyer was Hong Kong Jewellery retailer Chow Tai Fook Jewellery.