Flawless 102-carat diamond on auction

11 September 2020 | Business

Jill Serjeant - One of the world's rarest diamonds, about the size of an egg or a large lollipop, is going up for auction next month and is expected to fetch US$12 million to US$30 million.

Sotheby's said yesterday that the 102.39-carat diamond, a flawless white sparkler, was the second-largest oval diamond of its kind to be offered at auction. The largest, a 118.28-carat diamond, set a record US$30.8 million price when it was sold in 2013.

Only seven such diamonds, known in the trade as D colour flawless or internally flawless white diamonds, over 100 carats have previously been sold at auction.

"More and more people have come to understand that something billions of years old and of the size of a lollipop can store as much value as a Rembrandt self-portrait or a Basquiat," Gary Schuler, worldwide chairman of jewellery at Sotheby's, said in a statement.

The diamond will be sold in a single-lot action without a reserve price at Sotheby's in Hong Kong on Oct. 5.

Record price

"Diamonds of this calibre and size have sold anywhere between US$11.9 million to US$33.7 million," said Quig Bruning, head of Sotheby's New York jewellery department.

Sotheby's said the gem was cut from a 271-carat rough that was discovered at the Victor Mine in the Canadian province of Ontario in 2018 and cut and polished for more than a year.

Two of the most famous large diamonds - the Koh-i-Noor and The Cullinan 1 - belong to the British monarchy and form part of the British Crown Jewels.

The world record for any diamond or jewel sold at auction was set in 2017 when a 59.60-carat fancy vivid pink diamond was sold for US$71.2 million to the Hong Kong jewellery company Chow Tai Fook, Sotheby's said. – Nampa/Reuters

Similar News

 

I owe GIPF nothing – Haikali

10 hours ago | Business

STAFF REPORTERWINDHOEKBusinessman Ranga Haikali on Friday said he owes no money to the Government Institutions Pension Fund (GIPF) from the fund’s ill-fated Development Capital Portfolio...

New Shell service station opened at Oshakati

10 hours ago | Business

PHILLEPUS UUSIKUThe new Oshakati Shell opened its doors over the festive season to an expecting public. With refuelling and eating options, the new Shell facility’s...

SA’s Mr Price posted a 5.8% rise in retail...

10 hours ago | Business

South Africa's Mr Price on Friday posted a 5.8% rise in third-quarter retail sales, supported by Covid-19 relief packages and demand for household items as...

MTC records 2.66 percent increase in revenue

10 hours ago | Business

Mobile Telecommunications Company (MTC) on Thursday announced a 2.66 percent increase in revenue from N$ 2.613 billion recorded in 2019 to N$ 2.683 billion in...

SA’s Mr Price posted a 5.8% rise in retail...

10 hours ago | Business

South Africa's Mr Price on Friday posted a 5.8% rise in third-quarter retail sales, supported by Covid-19 relief packages and demand for household items as...

COMPANY NEWS IN BRIEF

10 hours ago | Business

Volkswagen profit drops by half in 2020Volkswagen said its 2020 adjusted operating profit nearly halved but said its car deliveries had recovered strongly in the...

Volkswagen South Africa tops passenger car market

10 hours ago | Business

Despite a year that was severely affected by the Covid-19 pandemic, Volkswagen Group South Africa (VWSA), which consists of the Volkswagen passenger cars and commercial...

Heineken South Africa to cut jobs

3 days ago - 22 January 2021 | Business

The South African arm of Heineken will cut 70 jobs and put new investments on hold in the country due to the significant impact of...

President parks Namdia report

3 days ago - 22 January 2021 | Business

OGONE TLHAGE AND MATHIAS HAUFIKUState House this week floundered on questions why President Hage Geingob has not acted on a damning report dragging two former...

African consumers could face rice shortages

3 days ago - 22 January 2021 | Business

NAVEEN THUKRAL, RAJENDRA JADHAV AND AYENAT MERSIETightening global supplies of basic foodstuffs and disruptions to shipping caused by the coronavirus pandemic are driving up the...

Latest News

New year, same old auction...

10 hours ago | Fishing

MATHIAS HAUFIKUWINDHOEKTroubled state-owned fishing company Fishcor hoped to have secured N$33 million in an auction of fishing quotas whose bids closed on Friday, in part...

Govt backs Recon’s Kavango oil...

10 hours ago | Energy

KENYA KAMBOWEKAWEDespite a number of objections against the planned oil and gas exploration at Kawe village in the Kavango East Region, the government has given...

I owe GIPF nothing –...

10 hours ago | Business

STAFF REPORTERWINDHOEKBusinessman Ranga Haikali on Friday said he owes no money to the Government Institutions Pension Fund (GIPF) from the fund’s ill-fated Development Capital Portfolio...

New Shell service station opened...

10 hours ago | Business

PHILLEPUS UUSIKUThe new Oshakati Shell opened its doors over the festive season to an expecting public. With refuelling and eating options, the new Shell facility’s...

SA’s Mr Price posted a...

10 hours ago | Business

South Africa's Mr Price on Friday posted a 5.8% rise in third-quarter retail sales, supported by Covid-19 relief packages and demand for household items as...

MTC records 2.66 percent increase...

10 hours ago | Business

Mobile Telecommunications Company (MTC) on Thursday announced a 2.66 percent increase in revenue from N$ 2.613 billion recorded in 2019 to N$ 2.683 billion in...

SA’s Mr Price posted a...

10 hours ago | Business

South Africa's Mr Price on Friday posted a 5.8% rise in third-quarter retail sales, supported by Covid-19 relief packages and demand for household items as...

Heavy rain, flooding expected this...

10 hours ago | Weather

ELLANIE SMITWINDHOEKThe weather bureau has warns that heavy rain with localised flooding is likely in the Omaheke Region tomorrow.This will spread to the central-northern areas,...

Press resilience in the time...

10 hours ago | Opinion

The Namibian media have been bold in recent months, shining light in the darkest corners of unholy activities of the political establishment.We have seen in...

Load More