Sotheby's buys back $83m diamond after new owner defaults

Updated
Pink Star Diamond auction
Pink Star Diamond auction

$83m is a lot to default on. Yet high class auction house Sotheby's has been forced to buy a 59.6 carat pink diamond back after its buyer defaulted. Isaac Wolf, a diamond cutter from New York, originally bid for the stone, highly prized for its rarity value, last November. But the deal, in the end, turned out to be less than flawless for Sotheby's. %VIRTUAL-SkimlinksPromo%

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