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100-Carat Flawless Diamond Up for Auction Today

Posted on April 21st, 2015 by Joe G

Sotheby’s Magnificent Jewels sale starts today in New York, and includes the largest emerald cut flawless diamond ever to be sold at auction.

The 100-carat, emerald cut diamond is expected to sell for up to $25 million. It will lead the auction following a six-city exhibition with stops in London, Hong Kong and Dubai.

Discussing the diamond, Lisa Hubbard, Chairman of North and South America for Sotheby’s International Jewellry Division, said “Simply put, it has everything you could ever want from a diamond: the classic shape begs to be worn, while the quality puts it in an asset class of its own.” Adds Gary Schuler, head of Sotheby’s jewelry department in New York, “People everywhere have been drawn to it from across the room and they are in awe of its size.”

This diamond was mined by De Beers in southern Africa and originally weighed over 200 carats. Only five other flawless diamonds over 100 carats have been sold at auction, including an 118.28 carat oval diamond that sold in Hong Kong in 2013 for $30.6 million.

Other colored diamonds and jewelry, as well as several Art Deco pieces from Cartier, will also be featured at the auction, which is expected to reach over $50 million in sales.

Courtesy of CNN

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