Mon, Mar 16, 2015

Art & Auctions
‘Perfect’ diamond on show in Dubai, likely to sell for $25m

An extraordinary diamond expected to fetch as much as $25 million in an upcoming auction in the US goes on show in Dubai, UAE, today for three days only.

Auction house Sotheby’s will be showing off the extraordinary 100-carat perfect diamond at the Dubai International Financial Centre (DIFC) until Wednesday.

The diamond is being showcased along with highlights from Sotheby’s upcoming Contemporary Art sale in Doha, Qatar, on April 21.

The remarkable 100.20-carat, D colour, internally flawless, type IIa stone will highlight Sotheby’s Magnificent Jewels auction in New York on April 21, when it is estimated to sell for $19-25 million. 

At this impressive scale, diamonds of this exceptional quality – D colour and internally flawless clarity – are incredibly rare, and are considered perfect, says Sotheby’s. 


The present example joins an elite group of just five comparable-quality diamonds over 100 carats that have ever been sold at auction worldwide.

These include:

• A 101.84 carat modified pear-shaped, D colour, internally flawless diamond which sold for $12.7 million/$125,295 per carat.

• A 100.36-carat rectangular modified brilliant-cut, D colour, internally flawless diamond which fetched $11.9 million/$118,397 per carat at a sale in Sotheby’s Geneva in 1990.

• A 100.10 carat pear-shaped, D colour, internally flawless diamond which sold for $16.5 million/$165,322 per carat at Sotheby’s Geneva in 1993.

• A 101.73-carat pear-shaped, D colour, flawless diamond which sold for $26.7 million/$262,830 per carat Sotheby’s Geneva in 1995.

• A spectacular 118.28-carat oval brilliant-cut, D colour, flawless diamond which sold at Christie’s Geneva in 2013 for $30.6 million/$258,708 per carat.


What distinguishes the present example within this rarefied league, says Sotheby’s, is its beautiful shape: it is the largest perfect diamond with a classic emerald-cut ever to be offered at auction. 

This modern shape gives the stone an unforgettable presence, whether it is worn as a jewel or admired on its own, it says.

The original rough – weighing over 200 carats – was mined by De Beers in southern Africa. 

The current owner spent over one year studying, cutting and polishing the rough diamond to deliver the spectacular stone. 

The diamond will be also be exhibited in Los Angeles (US), Hong Kong, London (UK) and Doha (Qatar), before returning to New York for exhibition beginning April 17.

Gary Schuler, Head of Sotheby’s Jewellery Department in New York, comments: “This 100.20 carat diamond is the definition of perfection. The colour is whiter than white, it is free of any internal imperfections, and so transparent that I can only compare it to a pool of icy water. It is the first true emerald-cut diamond over 100 carats to be offered at auction – the most classic of cuts, quietly elegant and very contemporary.”

Lisa Hubbard, Chairman of North & South America for Sotheby’s International Jewellery Division, says: “The rarest object of natural beauty on the market right now, this 100-carat diamond could be considered the ultimate acquisition. Simply put, it has everything you could ever want from a diamond: the classic shape begs to be worn, while the quality puts it in an asset class of its own. The stone gives you so many options – admire it unmounted, wear it as a simple but stunning pendant, or mount in a designed jewel.”

Since 1990, when Sotheby’s sold the first 100-carat perfect diamond at auction, until the most recent example in 2013, the price per carat for these stones has increased from $125,000 to $260,000. The present stone’s low estimate of $19 million represents a valuation of $190,000 per carat.

The Dubai exhibition will also showcase Sotheby’s upcoming Doha contemporary art auction which offers a selection of works from leading Middle Eastern and international artists from Anish Kapoor and Chant Avedissian to Ayman Baalbaki and Manal Al Dowayan.  

Frank Everett, Vice President of Sotheby’s Jewellery, and Aileen Agopian and Lina Lazaar, the Heads of Sale of the Contemporary Art auction in Doha, will be on hand at the Dubai event.


Dubai: March 16 to 18 at the DIFC Atrium, Level 2, Gate Building 5.
Los Angeles: March 29
Hong Kong: April 2 to 5.
London: April 8 to 12.
Doha: April 14 and 15.
New York: April 17 to 21.

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