102-carat ‘best’ diamond might set record at Sotheby’s online auction

102-carat 'perfect' diamond may set record at Sotheby's online auction

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D Color Flawless Diamond

Source: Sotheby’s

Sotheby’s is set to auction off a 102-carat diamond that might end up being the most costly gem ever offered to an online bidder.

The stone, a 102.39-carat D Colour Flawless Oval Diamond, might bring $10 million to $30 million. Only 7 perfect white diamonds of more than 100 carats have actually ever been cost auction. It is the second-largest oval diamond of its kind ever cost auction.

“One hundred-carat diamonds as a rule are exceedingly rare,” stated Quig Bruninghead of Sotheby’s fashion jewelry department in New York. “One hundred-carat D flawless are even more rare.”

While Sotheby’s does not have a main quote, similar diamonds have actually cost in between $11 million and $30 million in the past, Bruning stated. 

The stone, explained by Sotheby’s as “the size of a lollipop,” will be cost a live auction in Hong Kong on Oct. 5, however it will likewise be open to online bidders beginning on Tuesday. If it’s bought by an online bidder, it would likely top the record for the most costly piece of fashion jewelry ever offered online — a set of expensive blue and pink diamond earrings that cost $6 million online in 2016.

The 102-carat stone was cut from a 271-carat rough diamond that was found in the Victor Mine in Ontario in 2018. The diamond was cut and polished throughout a year by Diacore to highlight its “best brilliance, fire and scintillation,” according to Sotheby’s. The stone comes from an elite subgroup of diamonds referred to as “Type IIa,” which are the most chemically pure kind of diamond with the greatest level of openness.

D Color Flawless Diamond

Source: Sotheby’s

Demand for the rarest, biggest diamonds has actually reinforced throughout the coronavirus pandemic, as the rich have actually gained from more powerful stock exchange and financiers try to find long-lasting shops of worth in a monetary world awash with money. 

While need for daily fashion jewelry offered in shops has actually plunged — given that individuals aren’t checking out shopping centers and stores as typically, or using fashion jewelry as typically — rates for so-called investible diamonds have actually stayed strong. Wealthy purchasers, specifically in Asia and the Middle East, covet diamonds as the supreme hard-asset, given that they are long lasting and portable.

Sales of fashion jewelry and diamonds online have actually likewise increased, as individuals purchase more from house. Sotheby’s stated its online fashion jewelry sales have actually amounted to $31 million this year, 7 times more than the exact same duration in 2015. It has actually offered 3 lots for more than $1 million online.

“The retail experience — going into the store, trying things on — that’s gone right now, or at the very least has changed substantially,” Bruning stated. “A lot of things have moved online, and we have been able to really capitalize on that by showcasing things in a new and compelling kind of way globally.”

When asked whether the purchaser of a 100-carat diamond would ever use it, he stated: “Absolutely. They want to enjoy them.”

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