Would you like to own a 118-carat white diamond ? Well, I wouldn’t say no, but unfortunately it has already been sold. We were amazed to hear that a white diamond the size of a small egg sold for $30.6 million at a Hong Kong auction this week.
Two phone bidders battled it out for the 118-carat white diamond from Africa in six minutes of measured bidding until one dropped out in the Sotheby’s jewelry auction Monday night, part of fall sales of art and collectibles by the firm and its rivals.
The “flawless” white oval diamond, mined and cut two years ago, just under the low end of the $28 million to $35 million estimate range set by Sotheby’s. Total price including commission came to $30.6 million.
That was more than the previous record of $26.7 million for a white diamond set in May at Christie’s in Geneva.
The stone, which weighed 299 carats when it was found in the rough in 2011, is the largest and most significant such diamond graded by the Gemological Institute of America. Sotheby’s says it was discovered in southern Africa but won’t name the country because the seller wishes to remain anonymous.
“Hong Kong has in the last few years pulled itself up alongside Geneva and New York as one of the three major selling centers at auction” for diamonds, said Quek Chin Yeow, deputy chairman of Sotheby’s Asia and an international diamond expert.
Looking forward to November, when Sotheby’s puts a pink 59.60-carat diamond on the block that’s expected to fetch more than $60 million in Geneva.