The oldest White diamond never auctioned will be auctioned next Wednesday in Genevaalong with a historic canary yellow diamond, the sale of which will be used in part to finance the humanitarian work of the Red Cross.
At 228.31 carats, “‘The Rock’ is the White diamond largest ever auctioned. This is a truly exceptional pear-cut diamond,” Max Fawcett, head of the diamond department, told AFP. jewelry from Christie’s.
The price of the precious stone, whose owner is originally from North America but remains anonymous, could reach records.
“It’s perfectly symmetrical and estimated at $20 million to $30 million,” said Fawcett, who says only a “handful” of such diamonds exist.
The last record held by Christie’s for a White diamond similar (163.41 carats) raised the price of the stone to 33.7 million dollars in a sale in November 2017, also in Geneva.
Larger than a golf ball, “The Rock” was mined in South Africa in the early 2000s. It was later sold by Christie’s as part of a direct sale to a private collector.
red cross diamond
Bidders will also have a shot at “The Red Cross Diamond,” a 205.07-carat cushion-shaped canary yellow diamond, on Wednesday.
“It is estimated at between 7 and 10 million Swiss francs (7.4 and 10.6 million dollars). Much of the proceeds from its sale will be donated to the International Committee of the Red Cross,” Fawcett said.
The original gem was mined in 1901 at a South African mine owned by the De Beers company and would have weighed about 375 carats, according to Christie’s.
Ranked among the largest diamonds in the world, a striking feature of the stone is its pavilion, naturally faceted into the shape of a Maltese cross.
On April 10, 1918, the stone was first put up for sale at Christie’s in London by the Diamond Syndicate, for the benefit of the British Red Cross Society and the Order of Saint John (known as the Order of Malta).
At the time, the diamond was priced at 10,000 pounds (approximately 600,000 pounds today, or more than $740,000).
It was bought by the famous jewelry Londoner SJ Phillips.
On November 21, 1973, it was again put up for sale at Christie’s in Genevafor 1.8 million Swiss francs ($1.9 million).
It is now proposed for the third time by Christie’s.
The seller wished to remain anonymous but released this statement: “For nearly half a century, our family has been privileged to hold the Red Cross Diamond. At this propitious moment in history, we honor the calling that others have made before us.”
Several other diamonds will be proposed on Wednesday, as well as a tiara that belonged to Princess Irma of Fürstenberg (1867-1948), a member of one of the most important aristocratic families of the Habsburg Empire.
Its price is estimated at between 400,000 and 600,000 Swiss francs ($408,000 and $612,000).
“The diamond market is incredibly strong this year because of the geopolitical situation. There are inflationary pressures and diamond prices have never been this high in seven or eight years,” Max Fawcett explained.
The Russian invasion of Ukraine has a major impact on this market. More than 40% of diamonds are mined in Russia, especially with the Alrosa mine, but international markets no longer have access to Russian gems, the official said.
The conflict has “significant repercussions due to the strong restriction of supply in the current market, creating significant price increases,” said the expert, who expects that the maintenance of international sanctions against Russia “will continue to increase prices.”
