Giant diamond in necklace sells for $33.7M at Geneva auction

Angola Diamond To Sell For USD30M

Dlawless 163-carat diamond fetches $49.4 million in Geneva auction

He pointed out that when rival auction house Sotheby's sold an 118.28-carat flawless D diamond in 2013, it was sold for United States dollars 30.6 million.

The Art of de Grisogono, Creation 1, an emerald and diamond necklace set with a rectangular cut, D-color, flawless diamond of 163.41 carats, sold for $33,705,994, setting a new world auction record at Christie's auction in Geneva.

This marks "a new world-record price for a D colour diamond at auction", Rahul Kadakia, auctioneer and head of Christie's global jewels division, told AFP.

A team of 10 specialists in NY cut the jewel from a rough 404-carat stone discovered in Angola previous year, the biggest diamond ever found in that country. Ten diamond-cutting specialists worked on the rough in NY after it was analysed in Antwerp.

Nonetheless, Rahul Kadakia, auctioneer and head of Christie's worldwide jewels division, said that it was a record price for a D-colour diamond at an auction.

The Art of de GRISOGONO Creation I was sold at Christie’s auction for USD 33,701,000- a record breaking price
The Art of de GRISOGONO Creation I was sold at Christie’s auction for USD 33,701,000- a record breaking price

The necklace is made of 18 diamonds on one side and two rows of pear-shaped emeralds on the other.

"I am disappointed that the Art of de Grisogono didn't sell for a more dazzling price", said Tobias Kormind, head of 77 Diamonds, a large European online diamond jeweller, who had said before the sale he thought the price might top $50 million.

Unsurprisingly it comes with a hefty price tag.

Sotheby's plans to sell the ring at the Magnificent Jewels auction at the Four Seasons Hotel des Bergues in Geneva on Wednesday.

The stone up for sale Tuesday is meanwhile a "much larger diamond, and its title of the largest ideal stone could see it attract a winning bid of over $50 million", he suggested.

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