A white diamond, no bigger than an egg, has been sold for a record $30.6million on Monday night at an Hong Kong auction.
Two phone bidders competed for the 118-carat white diamond from Africa in six minutes of measured bidding until one dropped out in the Sotheby’s jewelry auction, part of fall sales of art and collectibles by the firm and its rivals.
The “flawless” white oval diamond, mined and cut two years ago, was hammered down for $27.3 million, just under the low end of the $28 million to $35 million estimate range set by Sotheby’s. Total price including commission came to $30.6 million.
That was more than the previous record of $26.7 million for a white diamond set in May at Christie’s in Geneva.
The stone, which weighed 299 carats when it was found in the rough in 2011, is the largest and most significant such diamond graded by the Gemological Institute of America. Sotheby’s says it was discovered in southern Africa but won’t name the country because the seller wishes to remain anonymous.