The 102-carat flawless white diamond was bought for $15.7 million.
Hong Kong, China:
An exceedingly uncommon 102-carat flawless white diamond bought for $15.7 million at a web-based public sale in Hong Kong on Monday night.
Described as “utterly flawless” by auctioneer Sotheby’s, the 102.39-carat stone went to an unnamed phone bidder for HK$122 million in an public sale held on-line due to the coronavirus pandemic.
“The customer of this diamond has bagged a cut price,” mentioned Tobias Kormind, managing director of on-line jeweller 77 Diamonds.
Throughout a time of financial uncertainty, he mentioned, “savvy traders are presently falling over themselves to amass various secure haven belongings like diamonds, property and gold”.
Solely seven different white diamonds greater than 100 carats and of the identical high quality have ever gone below the hammer.
The stone was bought and not using a reserve worth, which means the diamond went to the best bidder and didn’t want to fulfill a minimal threshold, the primary time in public sale historical past diamond of this calibre has been provided that approach.
The tactic will be dangerous however may also generate a buzz that sellers hope will elevate the ultimate worth.
On this case, the vendor’s transfer was “a courageous resolution that has come again to chunk them”, based on Kormind.
Initially a 271-carat tough stone, the gem was found within the now-closed Canadian Victor Mine in 2018.
“(The) diamond is one of the best of one of the best in relation to distinctive white diamonds and it’s troublesome to overstate its rarity and sweetness,” mentioned Sotheby’s worldwide jewelry chairman Gary Schuler forward of the sale.
In November 2017, the biggest diamond ever offered at public sale, with greater than 163.41 carats, bought in Geneva for greater than $33.eight million, charges and commissions included — a world report on this class.
However it’s not a report general for a diamond: in April 2017, the large “Pink Star” pink diamond bought for $71.2 million at a Sotheby’s public sale in Hong Kong.
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