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Friday, February 13, 2015

100-Carat ‘Perfect Diamond’ May Fetch $25 Million at Sotheby’s

A 100.20-carat D color internally flawless Type IIa stone will be the top lot of Sotheby’s Magnificent Jewels auction in New York on April 21. Its pre-sale estimate is $19 - $25 million.

The auction house is calling it the “perfect diamond,” saying that it joins a group of only five other diamonds of more than 100 carats with similar attributes that have been sold at auction worldwide. This gem is further distinguished by its emerald cut, making it the largest perfect diamond with a classic emerald-cut ever to be offered at auction.

It is a diamond “unlike any other before,” the auction house says.

The original rough weighed more than 200 carats and was mined by De Beers in southern Africa. It took more than a year to study, cut and polish the rough into the 100-carat diamond.

The diamond will be exhibited in Dubai, Los Angeles, Hong Kong, London and Doha, before returning to New York for exhibition beginning April 17.

Gary Schuler, head of Sotheby’s Jewelry Department in New York, said the diamond “is the definition of perfection. The color is whiter than white, it is free of any internal imperfections, and so transparent that I can only compare it to a pool of icy water. It is the first true emerald-cut diamond over 100 carats to be offered at auction—the most classic of cuts, quietly elegant and very contemporary.”

Lisa Hubbard, chairman of North & South America for Sotheby’s International Jewelry Division, added: “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.”

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