Giant White Diamond Sells For $30 Million
AP Photo/Vincent Yu
View all Offers
Amazon Brand - Solimo Rollaway Wrought Iron Metal Folding Single Bed with 4-Inch Contemporary Foam Mattress, Lockable Wheels (Black)₹ 9999₹ 15000Buy On
SleepX Dual Comfort Mattress 6 inch Queen Bed Size, Medium Soft & Hard (Orange, 72x60x6, Foam)₹ 7849₹ 14165Buy On
- 52% OFF
MBTC Rapid High Bar Chair/Kitchen Stool in Black₹ 2699₹ 5499Buy On
- 74% OFF
Amazon Brand - Solimo XXL Bean Bag Filled With Beans (Brown and Tan)₹ 1469₹ 6000Buy On
- 16% OFF
Metallika Centerville Three Seater Sofa cum Bed with Mattress (Glossy Finish, Brown, Metal) By FurnitureKraft₹ 22589₹ 36480Buy On
HONG KONG (AP) - A white diamond the size of a small egg sold for $30.6 million at a Hong Kong auction Monday night, edging out the previous record for such a stone set just six months ago.
Two phone bidders competed for the 118-carat rock from Africa in six minutes of measured bidding until one dropped out in the Sotheby's jewelry auction, part of fall sales of art and collectibles by the firm and its rivals.
The twice-yearly ritual in the southern Chinese city draws wealthy collectors from mainland China and other Asian countries and has made the city one of the world's busiest auction hubs.
The "flawless" oval diamond, mined and cut two years ago, was hammered down for 212 million Hong Kong dollars ($27.3 million), 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.
The auction's other highlight was a 7.6-carat flawless, round, vivid blue diamond that sold to a phone bidder for HK$125 million ($16.1 million) before commission, less than the $19 million estimate.
The two gems were among 330 lots of rare jewelry that fetched a total of $95 million.
"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.
But he added that the results should not be taken as an indicator of how wealthy Asians are being affected by economic trends such as China's slowdown. That's because such stratospheric prices can only be afforded by the super rich, who he said are mostly immune from such fluctuations.
The world record price for a jewel at auction was set in 2010, when London jeweler Laurence Graff paid $46 million for a "fancy intense pink" diamond weighing 24.8 carats.
That record could be blown away in 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.
- Amazon Great Republic Day Sale — Best deals and offers on Apple iPhones, iPads, and more
- ‘Extreme fear’ is ruling the crypto markets — is this an opportunity or a warning sign for investors?
- El Salvador's president hits back on Twitter after rating agency Moody's issues warning over its bitcoin buying
- Best deals on hair straighteners, trimmers and other grooming products on Amazon
- Amazon Republic Day Sale 2022 — Best deals and offers on Echo smart speakers, Fire TV Sticks and more
- Two IndiGo planes avert mid-air collision over Bengaluru airport, DGCA to take strict action
- India's tennis star Sania Mirza announces retirement from the sport by the end of 2022 season
- EaseMyTrip launches a new campaign featuring Vijay Raaz and Varun Sharma to promote its full-refund medical policy
- Mythology audiobooks
- Electric car Championship
- India's win in Centurion
- Millionaires Employees
- Car with Waiting Period
- Tax Saving Investment
- Urban Company
- New Year 2022
- Upcoming new laptops
- Bank Holidays in January
- Valuable NFT Projects
- Xiaomi 11i hypercharge
- GST Input tax credit
- Public Holidays in 2022
- RBL Stocks
- Upcoming Smartphones in 2022