Wednesday, November 16, 2011
World’s Largest Yellow Diamond Sold at Auction
BY CAMILLE MAESTRACCI
BY CHRISTINA HARTMAN
Its the largest yellow diamond ever sold - and now might become one lucky girl’s best friend.
The precious gem, called the Sun-Drop Diamond, was sold to an anonymous buyer for almost 11 million dollars at Sotheby's annual jewelry auction in Geneva.
BBC reports the gem is 110-carats - and “about 100 times heavier than most diamonds you see in rings and necklaces."
The fancy jewel was sold by Cora International, which discovered the diamond in South Africa last year. Then it travelled to Hong Kong and at London's Natural History Museum earlier this year where American model Jerry Hall showed it off.
“I’ve never seen such a big one and certainly never modeled such a big one. It’s amazing. there are so many colors and yellow and the light... When the light hits and these different colors come out it’s really wonderful. It must be very very valuable”
Indeed - it was the eighth most expensive diamond ever sold at auction. This -- after Sotheby's sold a fancy intense pink diamond last year for a record-breaking $46 million. A journalist for the BBC says it’s proof that the global economic crisis hasn’t undermined the luxury jewels market.
“I think Sotheby’s feels that this diamond has been sold in the range they had predicted which was between eleven million and fifteen million dollars and at the end they got almost $12.4 million. So I think they are happy with that partly because overall, despite what we’re seeing with the global economic downturn, the jewelry sales in Geneva this season have been very very brisk”
Posted by Crude Oil Daily at 9:52 PM
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