The Sun-Drop Diamond of South Africa, a giant pear-shaped yellow gem weighing 110.3 carats has sold for more than £6.8m million in an auction, the diamond was the top lot at Sotheby’s who had estimated that the jewel would make between £7-9m at an auction in Geneva, Switzerland.
The diamond is a rarity because of its colour and size, and it is also the first of its kind to be seen anywhere in the world. It was purchases by a telephone bidder who wished to anonymous. The price which the diamond sold for does not include the auctioneer’s commission or any taxes the buyer might be burdened with paying.
The stone itself was discovered in South Africa last year and cut and polished by New York-based Cora International which put it up for sale, the auction house had said in its catalogue.
Many would be thinking about how the diamond got its colour, well the yellow in the diamond is caused by nitrogen impurities trapped inside carbon molecules and hardened over the course of millions of years.
This is not the first time the auction house has sold a unique diamond, it was only last year when it sold a 24.78-carat pink diamond for the record price of $46 million. Many expected the yellow-diamond to also achieve a higher price, but it wasn’t to be, even after the fact that it has the highest possible colour grading.
This was also not the only diamond to be sold in the same auction, 38.88 carat white-cushion shaped diamond weighing 38.88 carats sold for almost $7 million after commission was deducted. Despite these diamonds finding homes there were other diamonds that may have slipped slip through the net as they did not find homes.
‘Oh my god’
An elaborate gold and diamond ‘peace down’ brooch, a blue diamond ring which was estimated at $7.5 million some imperial jewels failed to find a buyer. Highlighting that buyers know what they are after and as such, with the lowering of the price they might have a better chance of selling the jewels, this is because inflation has hit many people hard.
“It sold for a record for a yellow diamond… It was exactly within our expectations for this spectacular stone. Every time we’ve shown it around the world, people have gone ‘oh my god’. It was also never owned by so the buyer will be the first person to wear it,” said David Bennett, Sotheby’s auctioneer.