118.28ct Diamond Sets Record Price

Weighing a massive 118.28ct, the  oval cut D colour flawless diamond has become the most expensive colourless  diamond ever sold at auction. The rough 299ct diamond was mined in Southern Africa around two years ago and because
it is only recently cut the buyer will have the opportunity to name the stone.

big diamond

Unusually this diamond’s  estimate was made public by Sotheby’s Asia and Sotheby’s Diamonds Chairmain Patti Wong. Wong estimated a sale price between $28-$35 million USD, “I believe that if you have something good, flaunt it” Wong stated, adding that the estimate is “very defensible in light of prices realised during previous auctions”. Earlier this year the Winston Legacy (101.75ct, D-Flawless) sold for $26.7 million at auction. The hammer went down at $30.6 million making it the most expensive white diamond ever sold at auction.

Wong also mentioned that it is a natural evolution of the market that stone will be auctioned in Hong Kong instead of New York or Geneva.  Though  all of Sotheby’s previous 100ct+ D-Flawless/Internally Flawless  stones sold from Geneva , it was only a matter of time before Hong Kong was given a chance as over the last five years it has produced a multitude of record breaking sales.

At the same sale another stand out stone was a 7.59ct Fancy Vivid Blue, Internally Flawless round brilliant which was estimated at $19 million, which would shatter the previous record set by a Vivid Pink 4 years ago. It did not perform as expected however and was not sold.

 

blue diamond

Part Source: http://www.gia.edu/gia-news-research-sothebys-diamond-auction-2013-shor

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