A 74-Carat Diamond Sells For $14.2 Million Setting A Record For Any White Diamond Sold In America

Exceptionally large, exclusively rare and expensive diamonds are not seen commonly. But when they do surface to see day light and hit the auction block, they dazzle collectors as well as diamond and jewelry experts. A diamond is known to be the most precious gem and almost every girl’s best friend. The 74.79-carat, pear-shaped diamond was the highlight of the Sotheby’s New York Magnificent Jewels sale and urged bidders to dig deeper in to their pockets. Strangely this diamond has not yet been christened. But that didn’t stop it from setting the record for any white diamond sold in the Americas. Estimated to fetch between $9,000,000 and $12,000,000, this pear-shaped diamond of D color finally went under the hammer for $14,165,000. Back in 2001 it was sold for $4.3 million and now it surfaced after 12 years to set the record at almost $14.2 million.

Lisa Hubbard, Chairman, North & South America, Sotheby’s International Jewelry Division quoted, “The truly exceptional 74.79 carat stone was a thrill to auction, and exemplifies the strength of the market for white diamonds over the last decade.”

The catalogue note authenticates this rare diamond by stating, ‘Accompanied by GIA report no. 5151246888 stating that the diamond is D color, VVS1 clarity, together with the original working diagram stating that the stone may be potentially internally flawless. Also with a letter from the GIA stating that the diamond has been determined to be type lla.’

 

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Another jewel that bounced five times over its estimated value of $600,000 is a 22.48-carat Colombian emerald that fetched $2.9 million.

The auction house also reported that the Magnificent Jewels sale brought $53,490,938 in total, marking a new record sum for a spring auction of jewelry at Sotheby’s New York.




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About Joan Stern

NYC fashion writer blogging about all things lux. Attending New York University, future Fashionista. Follow author Joan Stern on Google +.

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