Private collector acquires - through Sotheby’s Diamonds - The Largest D Flawless Round Brilliant in the World. 102.34 carats, The World’s Largest-Known Round, D Colour, Flawless Diamond. Price paid per carat far exceeds that for any colourless diamond sold at auction © Sotheby’s Diamonds.

LONDON. – – In February this year, Sotheby’s Diamonds, a retail boutique specialising in the world’s finest diamonds, unveiled an extraordinarily rare 102.34 carat white diamond. The only known round brilliant-cut diamond over 100 carats that is perfect according to every critical criterion (see 4 Cs below), the stone – described by Patti Wong, Chairman of Sotheby’s Diamonds, as a “masterpiece of nature” – has now found a buyer. While the identity of the new owner cannot be revealed, the stone was purchased for a price per carat, which far exceeds that for any colourless diamond sold at auction (the current auction record price per carat for a white diamond is US$260,252, set at Sotheby’s in Hong Kong in 2013).

Coinciding with the sale of this exceptional stone, Sotheby’s has also sourced – for sale at auction in Geneva this May – two highly impressive white stones, each one weighing over 50 carats, and both of the same extraordinary colour and clarity as the 102.34 carat stone sold privately through Sotheby’s diamonds.

The first of the two stones is a round, brilliant cut diamond which, at 51.71 carats, ranks as the second largest D Flawless brilliant-cut diamond ever to have appeared at auction. The second stone, similarly perfect, weighs 50.39 carats but is oval, rather than round; it too is the second largest D Flawless diamond of its shape ever to have come to auction. 

The two diamonds will be highlights of Sotheby’s flagship sale of Magnificent Jewels and Noble Jewels in Geneva on May 15. The round brilliant-cut diamond is estimated at CHF 7.8 – 9 million (US$ 8.2 – 9.5 m / GBP 6 – 7 m / EUR 6.7 – 7.7 m) and the oval diamond will be offered with an estimate of CHF 7 – 7.6 million (US$ 7.3 – 8 m / GBP 5.3 – 5.8 m / EUR 6 – 6.5 m). 

Speaking about the sale of the 102.34 carat diamond, Patti Wong, Founder and Chairman of Sotheby’s Diamonds, said: “When the new custodian of this stone first beheld it, they were – like everyone else who has seen it – completely captivated. It is hard to believe that something so ancient (these stones are as old as the earth itself) can be so alive, so full of fire and blinding brilliance. A rarity in the mythical world of 100- carat stones, this diamond is a wonder of nature and of man’s ability to shape nature’s creations into an object of ultimate beauty”

Looking ahead to the Geneva sale, David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division, commented, “Having witnessed the enormous effect of the 102.34 carat stone on those who saw it, we are now thrilled to bring to the market two more truly exceptional stones, both of which are among the largest, highest quality white diamonds ever to come to auction. Diamonds like these have always captivated collectors and connoisseurs alike and continue to do so today.”

TWO DIAMONDS OF THE HIGHEST CALIBRE

Both of the diamonds to be offered in Geneva in May are D-Colour (the most coveted hue for white diamonds), have Flawless clarity and belong to the highly rarefied sub-category of Type IIa diamonds, which make up just 2% of gem diamonds and boast the highest optical transparency. The two diamonds were discovered and purchased at tender in Botswana. 

The round and oval diamonds were expertly cut in Antwerp (from rough diamonds weighing 196 carats and 155 carats respectively), and have been found by the GIA to have excellent cut, polish and symmetry. This is hugely important in ensuring that light passing through the stone is unimpeded, resulting in extraordinary sparkle and scintillation. Each has been given the top grading for their respective shapes: the round diamond received coveted “XXX” status, the most sought-after accolade applicable to this cut, and the oval stone was awarded “XX”, also the highest rating for its shape category. 

When it comes to stones of significant size, diamond cutters will generally try to keep the maximum weight from the rough. For this reason, elongated cushions, emerald-cuts, and pear-shapes are usually more common for large diamonds. Here, however, the master craftsmen who cut the stones have chosen round brilliant and oval cuts respectively, which show off the diamonds’ exceptional physical characteristics to maximum effect. 

These two shapes are most highly sought-after: an oval-cut diamond holds the record price per carat for any white diamond, and round brilliant-cut diamonds – which have the greatest fire and brilliance - are the rarest of all for stones of this size.

Lot 350. Oval diamond weighing 50.39 carats, D Colour, Flawless, Excellent Polish and Symmetry, Type IIa. Estimate 6,860,000–7,570,000 CHF / US$7,250,000–8,000,000. Lot sold 7,000,000 CHF ($8,100,000). © Sotheby’s 

The oval diamond weighing 50.39 carats,  size 52.

Accompanied by GIA report no. 2195126527, stating that the oval diamond, weighing 50.39 carats, measuring 28.82 x 20.58 x 13.05mm, is D Colour, Flawless, Excellent Polish and Symmetry; together with a type IIa classification letter. Stamped Pt950 for platinum, Swiss maker's mark. For more information on the diamond please refer to GIA report. Metal in like new condition. Gross weight approximately 14 grams. 

Lot 373. Round brilliant-cut diamond weighing 51.71 carats, D Colour, Flawless, Excellent Cut, Polish and Symmetry, Type IIa. Estimate 7,760,000–8,990,000 CHF / US$8,200,000–9,500,000. Lot sold CHF8000000 (US$9.300.000). © Sotheby’s 

The round brilliant-cut diamond weighing 51.71 carats,  size 52. 

Accompanied by GIA report no. 2185745311, stating that the brilliant-cut diamond, weighing 51.71 carats, measuring 23.65 - 23.80 x 14.85mm, is D Colour, Flawless, Excellent Cur, Polish and Symmetry; together with a type IIa classification letter. Stamped Pt950 for platinum, Swiss maker's mark. For more information on the diamond please refer to GIA report. Metal in like new condition. Gross weight approximately 14 grams. 

MORE ON THE 102.34 CARAT 

At 102.34 carats, the stone was the rarest white diamond ever to come to the market and the largest, round D colour flawless diamond known to man. The only stone of its kind ever graded by the GIA (Gemological Institute of America), the diamond achieved the highest rankings under each of the criteria by which the quality of a stone is judged (‘the four Cs’). It is of D colour (the highest grade for a white diamond); of exceptional clarity (it is completely flawless, both internally and externally, belonging to a rare subgroup known as Type IIa), and of excellent cut, polish and symmetry.

ON THE MARKET FOR WHITE DIAMONDS

Demand for exceptional diamonds of all kinds, including white, has been particularly strong in recent years. In October 2013, Sotheby’s established a world auction record price per carat for a white diamond at US$ 260,252 per carat when a 118.28 carat oval diamond sold for US$30.8 million. Last year, 91% of all white diamonds offered in Sotheby’s auctions found buyers, with half of them achieving prices above their high estimate. 

The two diamonds were unveiled in London on public view from 7 until 10 April. This will then be followed by an international tour. 

13 - 17 April: New York 27 - 28 April: Singapore (round brilliant-cut diamond only) 1 - 2 May: Taipei (round brilliant-cut diamond only) 1 - 2 May: Dubai (oval diamond only) 12 - 14 May: Geneva.

SALE: MAGNIFICENT JEWELS & NOBLE JEWELS Tuesday 15 May 2018 Mandarin Oriental, Geneva 1, Quai Turrettini, 1201 Geneva