Sotheby’s Asia sold the largest pink diamond in the world for the record price of $71.2 million. The buyer is Hong Kong jewelry retailer Chow Tai Fook. Sotheby’s and the public were both worried about the sale actually going through. A previous auction winner couldn’t pay his $83 million winning bid. That’s why Sotheby’s auctioned the diamond again.
Chairman of Sotheby’s Asia Patti Wong, tried to assure the public that the same issue would not arise.
“All three bidders were vetted and have long-standing relationships with the company and we were very, very confident that all three bidders had the financial capability and of course the buyer definitely had the financial capability. We were not worried at all.”
