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Diamond Expected to Fetch up to US$35M

Diamond Expected to Fetch up to US$35M

Rapaport News, division of the Rapaport Diamond Price List recently reported that Sotheby’s Hong Kong hopes to raise $30 million to $35 million (HKD 235 million to 280 million) from the sale of the largest oval fancy vivid blue diamond ever to appear at an auction.

The Rapaport News goes not to say: “The rare and superb, 10.10-carat stone, known as the ‘De Beers Millennium Jewel 4,’ is internally flawless and will appear at the Magnificent Jewels and Jadeite Spring Sale in Hong Kong on April 5, according to a statement by Sotheby’s Hong Kong March 11.”

The gem is from an Asian private collection, and is the only oval-shaped stone among the twelve rare diamonds – eleven blue and one colourless – that form the De Beers Millennium Jewels collection unveiled by De Beers in 2000 in celebration of the millennium.

Prior to auction, the diamond will be exhibited in New York, London, Geneva, Singapore, Taipei and Hong Kong. The Sotheby’s auction will be hosted at the Hong Kong Convention and Exhibition Centre in April 2016.

“The market for coloured diamonds has gone from strength to strength and this spring we are thrilled to present the ‘De Beers Millennium Jewel 4,’ the largest oval fancy vivid blue diamond ever to appear at auction,” said Quek Chin Yeow, Sotheby’s deputy chairman for Asia and chairman of international jewellery for the continent.

“Fifteen years ago I had the great opportunity of seeing this magnificent stone for the first time and it is an absolute delight now to have it in one’s hand, to admire it again and to offer it for auction in Asia.”

The news comes after Sotheby’s sold the 12.03-carat, internally flawless Blue Moon diamond for a world record $48.5 million at its auction in Geneva last November.

Investment quality diamonds continue to attract major investors around the world, while in South Africa the urgency for a hedge against the weakening SA Rand drives demand even further.


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