Diamond fetches £19 million at Sotheby’s
Sotheby’s Hong Kong set a new world record for the sale of a white
diamond last night as the largest diamond ever to appear at auction sold
for £19 million (Rs18,61,007,100).
Discovered in southern Africa in 2011 — a staggering 299 carats in the rough — the flawless type IIa stone became subject to a battle between two telephone bidders at the Magnificent Jewels and Jadeite sale.
The twice-yearly ritual in the southern Chinese city draws wealthy collectors from mainland China and other Asian countries and has made the city one of the world’s busiest auction hubs.
The diamond was ‘hammered down’ after six minutes for $27.3 million (Rs16,82,226,000), just under the low end of the $28m to $35m estimate range set by Sotheby’s. The total price — including commission — came to $30.6m, beating the previous record of $26.7m for a white diamond set in May at Christie’s in Geneva.
Type IIa diamonds are made with pure carbon without any trace of nitrogen, and only make up 2 per cent of the world’s diamond production. Diamond cutters had to lose around 60 per cent of the stone’s weight to achieve a perfect finish.
Discovered in southern Africa in 2011 — a staggering 299 carats in the rough — the flawless type IIa stone became subject to a battle between two telephone bidders at the Magnificent Jewels and Jadeite sale.
The twice-yearly ritual in the southern Chinese city draws wealthy collectors from mainland China and other Asian countries and has made the city one of the world’s busiest auction hubs.
The diamond was ‘hammered down’ after six minutes for $27.3 million (Rs16,82,226,000), just under the low end of the $28m to $35m estimate range set by Sotheby’s. The total price — including commission — came to $30.6m, beating the previous record of $26.7m for a white diamond set in May at Christie’s in Geneva.
Type IIa diamonds are made with pure carbon without any trace of nitrogen, and only make up 2 per cent of the world’s diamond production. Diamond cutters had to lose around 60 per cent of the stone’s weight to achieve a perfect finish.
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