Pink star default

Inventory at Sotheby’s rose significantly due to acquisition of the Pink Star, renamed the Pink Dream the 59.60 ct, internally flawless, fancy vivid pink diamond which was sold to diamond cutter Isaac Wolf in November for $83,187,381 USD. The reason Sotheby’s aquired the rare stone is due to Wolf’s default.

Sotheby’s are quite comfortable with their valuation and comfortable in owning it at this price. Sotheby’s is currently pursuing a resolution with the buyer, while also considering other alternatives against the default.

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