Wednesday, February 20, 2008

"101-Carat Diamond for Auction!"

-- A 101-carat, near-flawless diamond may fetch more than $8 million at a Christie's International sale in Hong Kong, the first time a gem of this quality and weight is auctioned in Asia.

The squash-ball sized stone, highlight of Christie's jewelry sale on May 28, has the third-highest clarity rating of VVS1 and the third-best ranking on a scale used to measure colorlessness. Colored diamonds are graded on a different scale, is now on exhibition in London and is also the biggest white diamond at auction in nearly two decades.

Christie's only identifies the seller as a Europe-based diamond trading company run by three brothers. The auction house said the stone had been discovered at the Premier diamond mine in South Africa, the largest and oldest diamond mine in the country. Hong Kong is Christie's third-biggest auction market after New York and London. Growth in Asia outside Japan is accelerating, fueled by China's 10 percent-a-year expansion, as the U.S. economy stalls.
The colorless diamond is the fourth of more than 100 carats offered at auction. The last three were in Geneva.
Cut from a 460-carat rough stone, the gem is now on exhibition in London and is also the biggest white diamond at auction in nearly two decades, Christie's said.

In 2005, the auction house sold a 120-carat brown diamond of lower clarity in Hong Kong. A carat is one-fifth of a gram.

In October, Christie's largest rival Sotheby's sold a flawless, 6.04-carat blue diamond in Hong Kong for HK$61.9 million ($7.9 million), a per-carat record for a gem.

"The market for big diamonds has gone up 20 percent in the last 18 months, today when the stone was unveiled to the press in London. "Diamonds are getting rarer.''
Sancroft-Baker said companies were no longer holding large diamond stockpiles and fewer stones were being dug out of the earth. He said that only one or two 100-carat diamonds were found per year.

During the London photo call the diamond slipped from the grasp of Christie's black-dressed staff-member Alexandra Jaffray and fell to the thickly carpeted floor.
"Lucky that didn't hit a chair,'' said a relieved Sancroft- Baker." "Diamond is the hardest substance in the world, but it can chip."


So far the amazing the diamond is still unamed, and the lucky buyer get's the right to name the stone..Good Luck to All the Buyers!



My Life Is Beautiful


Anonymous said...

that diamond is truly a gem! if only i have lots and lots of money, i would buy that big and beautiful diamond! it's a wonder why africa is said to be a poor country while the biggest diamond mines are supposed to be found there. such is the irony of life...

Anonymous said...

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photos for your blog

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