101 Carat Diamond to be Auctioned in Hong Kong

A rare 101.jpgwill be sold by auction house Christie’s in Hong Kong next month and is expected to go as high as $6-$7 million.

This is the largest colorless diamond to appear on the auction market in 18 years and one of only three colorless diamonds of over 100-carats to have ever been auctioned, Christie’s said.

The diamond, which is rated VVS1 (very very slightly imperfect 1st degree) for clarity is expected to fetch a relatively low per-carat price of $6 million.

A 39.34-carat “D” color, flawless diamond sold for $6.87 million at a Christie’s New York sale earlier this month.

Rare polished diamonds achieved all-time highs per carat at sales in Geneva late last year, although a much-hyped 72.22 carat “D” flawless white diamond did not sell at a Sotheby’s Hong Kong auction earlier this month, suggesting demand for top stones may be waning due to a weakening world economy.

The 101-carat “shield-shape” stone was cut from a 460-carat hunk of rough and mounted on a tiara, rather than a necklace or pendant given its extraordinary thickness.

Included with the auction are naming rights to the stone, who Christie’s said might come from Russia or the Middle East.

Other items to feature in Christie’s May 28 sale include a colored diamond ring set with a fancy green diamond estimated to be worth $3 million, as well as a rare emerald and diamond ring set with a 14.31 carat emerald which could go as high as $800,000.

Author: Shawn

Indiana University Alumni GIA Graduate Gemologist Student

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