Saturday 10th December 2016

Resource Clips



Bling goes ka-ching with $22-million diamond ring

by Greg Klein | April 22, 2015

“Unlike any diamond offered at auction before,” according to Sotheby’s, a 100-carat stone sold for $22.1 million in New York on April 21. One of only six “perfect” diamonds above 100 carats auctioned in the last 25 years, the Emerald-cut, D-colour and internally flawless rock, mounted on a platinum ring, outshone a sale of exceptional opulence that totalled over $65 million.

Bling goes ka-ching with $22-million diamond ring

The diamond “captivated people around the world”
but other jewelry also fetched remarkable prices.

“The stone captivated people around the world throughout our extensive travels this spring, but it was a particular privilege to offer it at our New York headquarters,” said Lisa Hubbard of Sotheby’s International Jewelry Division.

The diamond came from a southern Africa De Beers mine, according to media reports. The BBC said the stone took a year to cut, polish and perfect. Rapaport News reported that applause greeted the sale as an anonymous buyer phoned in the successful bid.

“The market for highly important diamonds was in evidence elsewhere in the sale as well,” Sotheby’s added. Another platinum and diamond ring went for $3.3 million, an 18-karat gold, fancy purplish diamond and sapphire ring got $2.4 million and a necklace of platinum, emerald, sapphire, lapis lazuli and diamond pendant “soared past its pre-sale high estimate to $2.6 million.”

Applause notwithstanding, Rapaport described the event as “a quiet sale with a very strong total,” adding that buyers paid “strong but sane sums for top-quality gems and jewelry.”

One day earlier Lucara Diamond TSX:LUC stated it found a 342-carat stone of “exceptional colour and clarity” from its Botswana operation.

Read about diamond supply and demand.

Read about diamond mining in Canada.

Share |

View All: News Stories