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Sotheby's (BID) - Get Sotheby's Report auctioned a 59.6 carat diamond called the "Pink Star" in Hong Kong on Tuesday for $71.2 million. Sotheby's was expecting the diamond to sell for $60 million when first added to the block.

The "Pink Star" is the largest flawless fancy vivid pink diamond to ever be graded by the Gemological Institute of America and was previously sold for a higher amount three years ago at another Sotheby's auction in Geneva.

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