Thank You Janet Yellen: Chow Tai Fook Buys a Diamond for a Record $71 Million

Hong Kong-based jewelry retailer Chow Tai Fook bought a 59.6 carat pink diamond for about $71 million, setting the world record for the top auction price for any gem, reports Bloomberg.

The Pink Star was sought after by three clients before selling to a bidder on the phone with our Asia CEO Kevin Ching pic.twitter.com/504CuIpbtF

— Sotheby's (@Sothebys) April 4, 2017

Chow Tai Fook  was founded in 1929 at the peak of one of the greatest Federal Reserve induced bubbles. Now, they are back making noise as Janet Yellen pumps another bubble.

-RW