Sean Kell on the jewelry industry, lab grown diamonds
A pear-shaped diamond that appears to be wider than a human thumb is up for auction – and it’s said to be worth tens of millions of dollars.
The 228.31-carat diamond, nicknamed “The Rock”, will be sold at a Christie’s auction in Switzerland on May 11, 2022.
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The auction is titled Geneva Magnificent Jewels and will form part of the UK auction house’s larger ‘Luxury Week’ sales event.
Christie’s is auctioning a 228.31 carat pear-shaped diamond on May 11, 2022. (Christie’s Images Ltd. 2022)
Christie’s estimates The Rock to be worth between $20 million and $30 million.
The rare gemstone was mined and polished in South Africa more than 20 years ago and is reportedly the largest white diamond ever put up for sale at auction, claims Christie’s.
“The Rock will join the very finest in legendary gems that have traversed Christie’s worldwide showrooms since 1766,” said Rahul Kadakia, head of jewelry at Christie’s International, in a statement.
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He continued, “The market for diamonds is particularly dynamic and we are confident that this spring season this sensational gemstone will capture the attention of collectors around the world.”
The 228.31-carat pear-shaped diamond Christie’s is offering for auction appears to be wider than a human thumb. (Christies Images Ltd. 2022)
Prior to the auction, the diamond will be on display at various Christie’s showrooms around the world.
It will first be on display at Christie’s Dubai from March 26-29; then it will make pit stops in Taipei and Rockefeller Plaza in New York City from April 29 to May 1.
During Christie’s Luxury Week, the diamond will be on display at the Four Seasons Hotel des Bergues in Geneva from May 6-11.
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The Rock has been graded by the Gemological Institute of America (GIA). A letter of authentication from the Gemstone Institute and Laboratory is provided with the diamond.
White diamonds are considered rare, and Christie’s estimates the 228.31-carat pear-shaped gem being auctioned could be worth as much as $30 million. (Christies Images Ltd. 2022)
Christie’s previous white diamond auction record was a rectangular stone with cut corners that weighed approximately 163.41 carats and sold for $33.7 million in November 2017.
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Unlike other diamonds on the market, white diamonds “can range from colorless (like a drop of pure water) to light yellow, light brown, or gray hues,” according to the GIA website.
“The rarity, and therefore value, of these diamonds is based in part on how close they come to being colorless.”