India Luxury Market
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An important auction of precious Jewels and Jadeites will be held at Sotheby’s on Oct 7. In the run up to the big day, Sotheby’s has revealed that 2 rare gems, will be the star attraction of the Autumn Auction Season; a rare ‘Premier Blue Diamond’ and a colourless oval diamond called the ‘Magnificent Oval Diamond’.
This colourless Diamond of 118.28 carat is the largest D colour, type IIa diamond of precise symmetry, to ever come up for auction.
The Magnificent Oval Diamond could command an exceptional price ranging US$28/35 million at the auction on Oct 7,2013. This flawless beauty went through months of cleaning and polishing to acquire the brilliant cut that it flaunts today. It weighed 299ct as a rough rock, when found in Southern Africa a couple of years back.
History of flawless colourless Diamond auctions: Thus far, there are only 4 colourless diamonds of over 100 carats and similar quality that have been auctioned and sold. Three of these flawless diamonds were sold between 1990-1995.
However, the year 2013 will turn out to be an exceptional year in the history of such auctions. The sale of the ‘Magnificent Diamond’ will be the second massive flawless, colourless Diamond to be auctioned this year.
*Christie’s
Earlier in 2013, a 101.73ct pear-shaped diamond was won by the highest bidder – ‘The Harry Winston Company’, at a Christie’s auction in Geneva. The Diamond is a flawless D colour, type IIA gem.
It was sold at the highest price at which a colourless diamond has ever been auctioned – i.e. more than 26 million dollars ($26,737,913). Called the ‘Winston Legacy’ , this supremly precious gem was found in a Botswana mine and initially weighed 236 carat before the cleansing and polishing process – that took nearly 21 months!!
Shilpa is a world renowned journalist and an expert in decoding India and Asia’s luxury markets for global readers. Her original, in-depth reports and analysis are frequently featured in prestigious international titles across the UK, China, Hong Kong, Switzerland, and Oman.
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