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'Pink Star' Diamond Sells for Record $71.2 Million in Bidding War

The "Pink Star", the largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America according to Sotheby's, set "a new record for any diamond or jewel at auction", the auction house tweeted. "All three bidders...have a long standing relationship 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," she said.