Diacore Partners in Pink Star 59.60 Carat Fancy Vivid Pink Diamond

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Jun 09, 2016, 11:29 ET

JOHANNESBURG, June 9, 2016 /PRNewswire/ --

Sotheby's is pleased to announce that Diacore and Mellen Inc. have acquired an ownership interest in one of the world's natural treasures: the remarkable Pink Star diamond, which remains the largest Internally Flawless, Fancy Vivid Pink diamond that the Gemological Institute of America (GIA) has ever graded. The three parties have formally partnered to achieve the value of the 59.60-carat stone, which Sotheby's holds in its inventory.

The Pink Star 59.60 carat Fancy Vivid Pink Diamond. (PRNewsFoto/Diacore)

(Photo: http://photos.prnewswire.com/prnh/20160609/377554 )

Nir Livnat, Chairman of Diacore, said: "From the moment it was unearthed as a rough diamond, we have always believed in the singular importance and value of the Pink Star. I am very pleased to partner with Sotheby's and Mellen in this process. We purchased the original 132.50-carat rough, and took two years to cut and polish the stone into this stunning 59.60-carat, Fancy Vivid Pink, oval-cut diamond - it is a true masterpiece of both nature and artistry."

David Bennett, Worldwide Chairman of Sotheby's Jewellery Division, commented: "The explosion in demand for exceptional colored diamonds has been a driving force behind Sotheby's recent string of record-setting jewelry sales. From the Graff Pink's benchmark price of $46 million in 2010, to the $2.1 million price-per-carat achieved by the Unique Pink this month in Geneva, pink diamonds of the highest quality have been at the forefront of this market phenomenon. Such stones have been and always will be the very definition of rarity, with the Pink Star sitting at the pinnacle of this privileged list."

ABOUT DIACORE

Diacore is a multinational company with interest ranging from manufacturing to retail. Specialising in the creation of large, fancy coloured and rare stones, the Group supports a wide spectrum of products and focuses on a long term relationship with its clients.

Diacore has created some of the world's most famous diamonds: the 203.04-carat De Beers Millennium Star; The Heart of Eternity, a 27.64-carat Fancy Vivid Blue, Heart-shaped diamond; and the magnificent Pink Star, a 59.60-carat, Internally Flawless, Fancy Vivid Pink diamond.

More at http://www.diacore.com.

SOURCE Diacore