Bradley Cooper to Wear Unique IWC Watch at Oscars Being Auctioned for Charity by Sotheby’s

Bradley Cooper in an IWC advertisement. Photo credit: IWC

IWC Ambassador Bradley Cooper will wear a unique IWC Big Pilot’s Watch to the Oscars ceremony on Sunday with a special engraving. The watch is being offered by Sotheby’s in an exclusive online auction with all proceeds going to benefit the Antoine de Saint-Exupéry Youth Foundation. Bidding opened $16,000 Friday and will run till March 4. 

A personal letter from Cooper to the new owner will accompany the watch. IWC is donating all proceeds from the sale to the Antoine de Saint-Exupéry Youth Foundation with all funds going to "Arrimage," a charitable organization that focuses on teaching visually impaired children how to read drawings using their sense of touch.

Big Pilot’s Watch single piece with a special engraving (Ref. IW500923), Bidding for the watch will open at $16,000. Photo courtesy of Sotheby’s and IWC

The IWC watch Cooper will be wearing at The Oscars is a Big Pilot’s Watch single piece with a special engraving (Ref. IW500923). The timepiece features a midnight blue dial and is housed in a case made of 18k 5N gold. It is powered by the IWC-manufactured 51111-caliber movement. On the caseback there is an engraving of an iconic quote from Antoine de Saint-Exupéry‘s The Little Prince: “It is only with the heart that one can see rightly."

A triple Oscar-nominee in 2019, Cooper co-wrote, directed, produced and starred in A Star is Born. The film has received eight Oscar nominations: “Best Actor in a Leading Role,” “Best Actress in a Leading Role.” “Best Picture,” “Best Adapted Screenplay,” “Best Actor in a Supporting Role,” “Best Original Song,” “Best Cinematography” and “Best Sound Mixing.” He previously earned Oscar nominations for his performances in Silver Linings Playbook, American Hustle and American Sniper. Bradley Cooper became a brand ambassador for IWC in 2018. 

The unique IWC Pilot's Watch with special engraving: “It is only with the heart that one can see rightly." Courtesy of Sotheby’s and IWC

“The support of disabled children and adolescents is one of the cornerstones of our CSR effort,” said Christoph Grainger-Herr, CEO of IWC Schaffhausen. 

“IWC Schaffhausen’s master watch-makers have produced a complex and beautifully crafted symbol of Antoine de Saint-Exupéry’s pioneering spirit. After witnessing dreams come true on the stage of the Oscars this Sunday, it will be a privilege for us to offer this one-of-a-kind watch in our upcoming sale and to support the important work of the foundation,” added Mikael Wallhagen, head of the Watch Division for Sotheby’s in Geneva.

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Mismatched Diamond Earrings Could Fetch $68 Million At Sotheby’s

Courtesy of Sotheby's

A mismatched pair of fancy colored earrings, offered as individual lots, will lead Sotheby’s spring sale of Magnificent Jewels and Noble Jewels, May 16 at the Mandarin Oriental, Geneva. Together the auction house says they make up the most valuable set of earrings ever sold at auction.

“The Apollo Blue,” a 14.54-carat fancy vivid blue diamond, will be presented with an estimate of $38 – $50 million and “The Artemis Pink,” a 16-carat fancy intense pink diamond, has an estimate of $12.5 – $18 million.

“The Apollo and Artemis diamonds will be the stars of our May sale in Geneva—by far the most important pair of earrings ever offered at auction,” said David Bennett, worldwide chairman of Sotheby’s International Jewellery Division. “These exquisite colored diamonds are enormously rare and each is a wonderful stone in its own right. Together, as a pair of earrings, they are breathtaking.”

They are named after Apollo and Artemis, a twin brother and sister among the most widely venerated of the Ancient Greek deities. 

The pear-shaped Apollo Blue is the largest internally flawless fancy vivid blue diamond ever to be offered at auction, Sotheby’s said. It was graded as a Type IIb diamond, which amounts to less than 1% of all diamonds. In recent years, the only mine to produce blue diamonds with any regularity is the Cullinan mine in South Africa. When in full production, less than 0.1% of diamonds sourced showed any evidence of blue color, according to the Gemological Institute of America, which graded both diamonds and issued reports on them. An infinitesimally small percentage of those is graded Fancy Vivid Blue.

The pear-shaped Artemis Pink, graded by the GIA as a Type IIa diamond, describing this category as “the most chemically pure type” of diamonds. The occurrence of pink diamonds remains exceedingly rare: according to the GIA, of all diamonds submitted to their specialists each year, ‘no more than 3% are classified as colored diamonds; less than 5% of those colored diamonds are predominantly pink’. 

“Thus, a fancy intense pink stone of such rich color and impressive size can only be described as phenomenally rare,” the auction house said.

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Collectors See Value In Richard Mille Watches At Sotheby’s Hong Kong Auction

Richard Mille RM008

The appeal of contemporary independent watchmaker, Richard Mille, continues to grow. Demand has now extended to the auction market, where his rare, expensive and technically advanced timepieces are earning a following among collectors. 

All four Richard Mille watches (including a women’s watch) on offer sold at the Sotheby’s Hong Kong Important Watch Sale with two of them among the top five lots. It was one of the main stories at April 5 auction where collectors were attracted to a variety of established and contemporary brands. 

“Collectors’ interest has become increasingly diverse, with the top ten lots comprising not only traditionally sought-after brands, but also complex models and those by independent watchmakers,” said Jessie Kang, Sotheby’s head of Watches, Asia. “Unique designs and rare pieces remain popular, with all four Richard Mille watches on offer sold. Bidding from 33 countries was vibrant, with many new buyers in the sale room and a number of Sotheby’s existing clients exploring the field of watch collecting for the first time.”

The top lot wasn’t a watch but a clock and art object. The Cartier “Flamingo and Lotus Automaton Clock” sold for $537,924, above estimate. It features a bejeweled flamingo and lotus set on an 18k yellow gold rectangular base set with onyx and gray mottled hardstone. One of four large round lapis lazuli buttons activates the lotus automaton. The top of the base is in mother-of-pearl with a large yellow diamond and diamond-set lotus. Its ten petals open to reveal the dial, all on nephrite leaves. The large flamingo standing on one leg is covered with brilliant-cut diamonds. Its plumage set with square-cut sapphires, rubies and emeralds, with the beak made of pink hardstone and onyx. Sapphire eyes are the final touch. 

The top lot among watches was the Richard Mille RM008, a pink gold tourbillon split seconds chronograph (top photo) that sold for $383,053. This highly complicated watch is powered by the manually wound caliber RM-008/1 with a one-minute tourbillon carriage visible at 6 o'clock with compensation balance, semi-skeletonized matte charcoal dial, two subdials for constant seconds and 30-minute register, outer scale calibrated for tachymeter, fan-form power reserve indicator at 11 o'clock position and torque indicator at 1 o'clock. It’s all housed in an 18k pink gold tonneau-shaped case.

The third lot of the sale fell to one of the most popular brands on the auction market, Patek Philippe, with a pink gold minute repeater perpetual calendar, reference 5013, which sold for $352,611, within its estimate. 

A Jaeger-LeCoultre white gold Spherotourbillon watch with date, flyback seconds and power reserve indicator, was the fourth highest seller, fetching $281,509. 

Rounding out the top five was the Richard Mille RM 015 “Tourbillon Perini Navi.” It’s inspired by the sailing vessels of the yacht builders Perini Navi of Viareggio. The white gold tonneau-shaped semi-skeleton Tourbillon timepiece fetched an above-estimate, $273,466.

The sale at the Hong Kong Convention and Exhibition Centre took in more than $7.4 million, with 75.2% sold by lot and 84.8% sold by value. A total of 303 lots were on offer.

“We are pleased with the solid results and the healthy sell-through rate of the sale,” Kang said. 

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Signed Jewels That Sparkle At Sotheby’s Hong Kong Sale

Unique pair of ruby and diamond bangles by Bhagat and a diamond, sapphire and emerald ‘Panthère’ Ring by Cartier. All photos courtesy of Sotheby's

Among the approximate 196 lots at Sotheby’s Hong Kong “Magnificent Jewels and Jadeite Spring Sale” are an Art Deco mystery clock by Cartier, a pair of ruby and diamond bangles by famed Indian designer, Bhagat, and a gem and diamond necklace by Mauboussin. 

You may have also heard about a particular 59.60-carat pink diamond known as the “Pink Star.” 

While the focus will be deservedly on the Pink Star, there are many other jewels, gems and art objects that will be offered at the April 4 sale at the at the Hong Kong Convention and Exhibition Centre. Among the highlights are: 

Art Deco Gem Set and Diamond Mystery Clock, ‘Le Ciel’ by Cartier, 1928
This collection of clocks produced by Cartier between 1922 and 1931 incorporated antique Chinese jade carvings from the 18th and 19th centuries. Le Ciel is one of only thirteen clocks from the collection still known to exist, according to the auction house. The dial is embellished with bejeweled shooting stars and planets on a night sky. The dial is supported by two antique jade carps. Its estimate is $1.36 million - $1.81 million.

Important Jadeite and Diamond Demi-Parure
Being a Hong Kong sale, jadeite will always play starring role. The necklace in this set consists of seven highly translucent oval jadeite cabochons of brilliant emerald green color, embellished with circular-cut diamonds. It comes with a matching set of jadeite cabochon earrings. Its estimate is $2.58 million $3.87 million.

Gem Set and Diamond Pendent Necklace by Mauboussin
This colorful necklace by the Parisian jeweler features circular- and single-cut diamonds, embellished with sapphires, rubies and emeralds, accented by black enamel. The diamonds weigh approximately 18 carats. Its estimate is $765,000 - $970,000.

Fine Diamond Bracelet by Harry Winston
Designed as six rows of pear-shaped diamonds decorated with circular-cut diamonds, the platinum necklace has a total diamond weight of approximately 124.06 carats. Its estimate is $258,000 - $323,000.

Unique Pair of Ruby and Diamond Bangles by Bhagat
Sotheby’s refers to the Indian jewelry brand as “one of the greatest living jewelers,” with works that represent a fusion of artistry and craftsmanship that draws inspiration from classic Indian themes. Each bangle is set with 38 oval rubies (60 carats), to the edge of floral motifs embellished with circular-cut diamonds (30 carats). Its estimate is $252,000 - $361,000.

Diamond, Sapphire and Emerald ‘Panthère’ Ring by Cartier
This panther ring is pavé-set with circular-cut diamonds weighing approximately 4.50 carats, embellished with sapphire spots, emerald eyes and an onyx nose, mounted in platinum. Its estimate is $194,000 - 258,000. 

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59-Carat ‘Pink Star’ Diamond Could Fetch At Least $60 Million In Sotheby’s Second Attempt To Sell It

Courtesy of Sotheby's 

“The Pink Star” diamond will be given a second chance to smash world auction records. The Largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America will be placed on the auction block for the second time at Sotheby’s Hong Kong Magnificent Jewels and Jadeite sale on April 4.

The 59.60-carat oval-cut diamond has an estimate is more than $60 million, which, if matched, will be a world auction record. 

The diamond first sold for a remarkable $83 million at Sotheby’s Geneva in November 2013, a figure that remains the highest ever for a diamond to this day. However, in February 2014, in its annual report, Sotheby’s said the consortium of buyers, led by diamond cutter Isaac Wolf, had defaulted on the sale. The diamond was placed in its inventory valued at approximately $72 million. The auction house reportedly had to buy back the diamond for $60 million because it had guaranteed that price to the original seller of the diamond.

Courtesy of Sotheby's

In June 2016 Sotheby’s announced it has entered into a partnership with two other firms, Diacore and Mellen Inc., for the diamond. 

Diacore is a multi-national company that specializes in the manufacturing of large, fancy colored and rare stones. The company said it was the original owner of the 132.50-carat rough diamond that created the Pink Star.

Mellen Inc. is a third generation, family run private jeweler based in New York.

View a video of The Pink Star diamond on Sotheby's website.

“At a time of unprecedented demand for the finest in colored diamonds, I am delighted to be bringing this magnificent stone back to the market,” David Bennett, worldwide chairman of Sotheby’s Jewellery Division, said in a statement. “The extraordinary size of this 59.60-carat diamond, paired with its richness of color, surpasses any known pink diamond recorded in history.” 

Currently, the world’s most valuable diamond sold at auction is the 14.62-carat “Oppenheimer Blue,” which sold for more than $57.5 million at Christie’s Geneva sale held May 18, 2016. The Pink Star has the possibility of not only breaking the record but shattering it. 

Courtesy of Sotheby's

The Pink Star is graded as Type IIa, which is rare for any pink diamond, much less one of this size and color. It originated from a 132.5-carat rough mined by De Beers in 1999 and was cut and polished over a period of two years. The Pink Star is more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for any pink diamond sold at auction. It sold for $46.2 million, at Sotheby’s Geneva in 2010. 

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Blue And Pink Diamonds Topped Auction Sales For 2016

As in the past few years statement blue and pink diamonds garnered the most attention and highest bids at Chrisite’s and Sotheby’s in 2016. White diamond earrings and a rare green diamond also made the cut.

Without further delay here are the top 10 jewelry auction sales of 2016: 

The Oppenheimer Blue (top photo), a 14.62-carat fancy vivid blue rectangular-cat diamond fetched a world record for any jewel sold at auction, more than $58 million, at Christie’s Geneva Magnificent Jewels sale in May. 

The De Beers Millennium Blue, a 10.10-carat fancy vivid blue diamond sold for more than $32 million at Sotheby’s Magnificent Jewels and Jadeite sale in April. 

The Unique Pink, a 15.38-carat pear-shaped fancy vivid pink diamond sold for a world auction record price for any fancy vivid pink diamond, fetching more than $31.5 million at Sotheby’s Geneva Magnificent Jewels and Noble Jewels sale in May. 

The Cullinan Dream, a 24.18-carat mixed-cut fancy intense blue diamond, sold for more than $25.3 million. It is the largest fancy intense blue diamond ever to be offered at auction. It was sold at Christie’s New York Magnificent Jewels & the Cullinan Dream sale in May.

A 17.07-carat fancy intense pink diamond with a step-cut sold for more than $20.7 million at Sotheby’s Geneva Magnificent Jewels and Noble Jewels sale in November.

A 9.14-carat fancy vivid pink pear-shaped diamond sold for more than $18.2 million at Christie's Geneva Magnificent Jewels sale in November

Miroir de l'Amour (Mirror of Love), a pair of 52.55- and 50.47-carat pear-shaped D color, flawless type IIa diamond earrings, by Boehmer et Bassenge sold for nearly $17.7 million at Christie's Geneva Magnificent Jewels sale in November. They are the world’s largest perfect pear-shaped diamond drops ever to be offered at auction.

A 7.32-carat pear-shaped fancy vivid blue diamond sold for more than $17.1 million at Sotheby’s Geneva Magnificent Jewels and Noble Jewels Sale in May.

The Sky Blue Diamond, an 8.01-carat fancy vivid blue diamond mounted on a diamond ring designed by Cartier, sold for more than $17 million at Sotheby’s Geneva Magnificent Jewels and Noble Jewels in November.

A 5.03-carat rectangular-cut fancy vivid green diamond, within a circular-cut pink diamond surround, sold for more than $16.8 million at Christie’s Hong Kong Magnificent Jewels sale in May. 

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8-Carat ‘Sky Blue Diamond’ Could Be Yours For $25 Million

The latest blue diamond to come up for auction is an 8.01-carat fancy vivid blue diamond being called the “Sky Blue Diamond.” It is the top item in Sotheby’s auction of Magnificent Jewels and Noble Jewels in Geneva to be held November 16. 

The ring set on a Cartier mount surrounded by white diamonds, has a presale estimate of $15 - $25 million.

Describing the diamond, David Bennett, worldwide chairman of Sotheby’s International Jewellery Division, said, “The Sky Blue Diamond is of a wonderfully clear celestial blue, presented in an extremely elegant square emerald cut—in my view, the most flattering of all the cuts for a colored diamond.”

In recent years, colored diamonds have been highly prized at auctions with blue diamonds being the most sought after—setting numerous records. Among them:

* The 14.62-carat “Oppenheimer Blue” diamond, which sold for more than $57.5 million at Christie’s Geneva in May, setting a world record for any jewel sold at auction. 

* The 12.03-carat “Blue Moon of Josephine,” which sold for $48.4 million at Sotheby’s Geneva, November 2015, setting a world record for the price per carat for any diamond or gem at just over $4 million.

* The 9.75-carat Zoe Diamond, which sold for more than $32.5 million at Sotheby’s New York, November 2014.

* The 10.10-carat Millennium Blue Fancy, which sold for more than $31.8 million at Sotheby’s Hong Kong, April 2016.

* The 24.18-carat “Cullinan Dream,” which sold for $25.3 million at Christie’s New York in June. 

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No Buyer For 1,100-Carat Rough Diamond At Sotheby's London Auction

The Lesedi la Rona

Could the Brexit have played a role in this? 

Whatever the reason, the “Lesedi la Rona,” a 1,109-carat uncut diamond, failed to sell during a stand-alone auction, held Wednesday at Sotheby’s London. It is the world’s largest gem-quality rough diamond to be discovered in more than a century and the largest rough diamond in existence today. However, it failed to meet its reserve price. The bidding stalled at $61 million. Its estimate was $70 million. 

“Sadly it was not sold but it is a magnificent stone, one of the greatest stones ever discovered,” said David Bennett, worldwide chairman of Sotheby’s Jewellery Division.

Bidding opened at $50 million and moved up by $1 million increments at a steady pace until reaching $61 million, as seen through the auction house’s streaming video feed from its London facility. The total sale lasted fewer than 15 minutes. 

The auction was conducted in US dollars as opposed to British pounds sterling, even though the sale was held in London. Again, perhaps the instability of the British currency was the reason.

Prior to the auction Bennett described the reaction from some of the potential buyers who viewed the diamond. “I’ve seen grown men with tears in their eyes believe it or not.”

It’s rare for a rough diamond to be sold at auction, much less a standalone auction. The only other items at bid prior to the Lesedi la Rona, were three rough diamonds being sold for charity. 

Most rough diamonds are sold privately to those experienced with cutting gems. It appears this diamond will now go through these more traditional channels.

The gem is around the size of a tennis ball with “exceptional transparency and quality” and is around 2.5 to more than 3 billion years old, the auction house said. It was unearthed in November 2015 by Lucara Diamond Corp., a Canadian diamond mining company, at its Karowe mine in Botswana.

Its name means “Our Light” in the Tswana language spoken in Botswana.

It’s been more than 100 years since a diamond of this size and quality of the Lesedi La Rona has been found. Its size is exceeded only by the legendary Cullinan Diamond, mined in South Africa in 1905. The 3,016.75-carat diamond produced nine major diamonds that are part of the historic Crown Jewels of the United Kingdom, including the Great Star of Africa—considered to be the largest top-quality polished diamond in existence, weighing 530.20 carats.

The Gemological Institute of America said the Lesedi La Rona’s “top color and transparency exemplify the ‘limpid’ appearance commonly associated with type IIa diamonds,” which accounts for fewer than 2 percent of all gem-quality diamonds. 

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Two Firms Invest In 59-Carat ‘Pink Star’ Diamond

Sotheby’s is partnering with two firms for a rare, valuable diamond it has held in inventory for nearly two years.

“Diacore and Mellen Inc. have acquired an ownership interest in one of the world’s natural treasures: the remarkable Pink Star diamond,” the auction house said in a brief statement distributed to just a few people, including me. “The three parties have formally partnered to achieve the value of the 59.60-carat stone, which Sotheby’s holds in its inventory.”

The financial details were not disclosed as well as information on what will happen to the oval-cut diamond. However, the auction house previously estimated the value of the diamond at $72 million.

It remains the largest internally flawless, fancy vivid pink diamond ever graded by the Gemological Institute of America.

Diacore is a multi-national company that specializes in the manufacturing of large, fancy coloured and rare stones. In the same statement the company said it was the original owner of the 132.50-carat rough diamond that created the Pink Star.

“From the moment it was unearthed as a rough diamond, we have always believed in the singular importance and value of the Pink Star,” said Nir Livnat, chairman of Diacore.

Mellen Inc. is a third generation, family-run private jeweler based in New York.

You may remember the diamond was sold for a world record price of $83 million in the November, 2013, Sotheby’s Geneva Magnificent Jewels sale. In an unusual move for such a high-stakes sale, the buyer revealed himself, diamond cutter Isaac Wolf, who said he was representing a group of investors.

In February, 2014, Sotheby’s announced in its annual report that Wolf and his investors defaulted on the sale. The auction house paid the diamond’s seller $60 million, which was the guaranteed price. The diamond remains in Sotheby’s inventory valued at approximately $72 million.

“Such stones have been and always will be the very definition of rarity, with the Pink Star sitting at the pinnacle of this privileged list,” said David Bennett, Worldwide Chairman of Sotheby’s Jewellery Division.

Currently, the world’s most valuable diamond is the 14.62-carat “Oppenheimer Blue,” which sold for more than $57.5 million at Christie’s Geneva Magnificent Jewels sale, held May 18. 

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‘Unique Pink’ Sells For Record $31.5 Million At Sotheby’s

A 15.38-carat fancy vivid pink diamond sold for more than $31.5 million at Sotheby’s sale of Magnificent Jewels and Noble Jewels in Geneva Tuesday, setting a record for a stone of its type. 

Called the “Unique Pink,” it achieved more than $2 million per carat. It is the largest fancy vivid pink diamond ever to come to auction.

It was sold by phone to a private Asian buyer, according to a source who requested anonymity. The buyer doesn’t appear to be Joseph Lau, the Hong Kong billionaire who has gained a reputation for paying exuberant sums at auction for diamonds and gems for his daughters, including the “Blue Moon, which set a world auction records for any diamond, gem or jewel. 

“It is difficult to imagine a diamond that better illustrates the term Vivid Pink than this outstanding stone,” David Bennett, worldwide chairman of Sotheby’s International Jewellery Division, said in a statement. “The color is simply astonishing and, for its size, it is in my experience truly unique.” 

The gem was sold by Cora International, a New York-based company that specializes in cutting and polishing rare important diamonds, including the Blue Moon. 

“Pink diamonds are among the rarest in the world and they are increasingly being viewed as an investment, said Ehud Laniado, Cora International chairman. “Diamonds are beautiful and a treasure of nature, but more than this, they offer an economy of rarity that is making them increasingly attractive to savvy investors.”

It was the top lot of a sale that set a world record for any jewelry auction, achieving more than $175 million with 83 percent of items sold by lot and with 70 percent of lots sold above high estimate. Three lots sold for more than $10 million and six lots for more than $5 million.

In addition the auction set a new record for an online purchase during a live auction with the sale of a pear shaped fancy blue and fancy orangy pink diamond earrings that sold for nearly $6 million, double its high estimate. 

Other records set at the auction held at the Hôtel Beau-Rivage are:

* An Alexandra Reza brooch featuring a 6.64-carat fancy intense blue diamond sold for more than 13.6 million, setting an auction record for a jewel sold by the famed Parisian designer. 

* An 18.51-carat fancy pink diamond pendant sold for more than $9.7 million ($528,021 per carat), setting an auction record for a fancy pink diamond.

* An 8.2-carat fancy purplish pink diamond ring sold for nearly$3.7 ($450,744 per carat), setting a record for a diamond of this color. 

There was a year-over-year 41 percent increase in the number of items sold online. In addition, the sale attracted bidders from 45 countries with 25 percent of bidders from Asia. 

Later today will be the sale of the 14.56-carat “Oppenheimer Blue,” the largest and finest fancy vivid blue diamond ever offered at auction at Christie’s Geneva Magnificent Jewels sale at the Four Seasons Hotel des Bergues. If the results of Tuesday’s auction are any indication, it will have a chance to eclipse the “Blue Moon.”

The first of two sessions of the auction is underway and so far sales are brisk with several items selling above the high estimate. 

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$70 Million Auction Estimate For 1,100-Carat Rough Diamond

Photo credit: Donald Bowers/Getty Images for Sotheby's

Using over-exuberant superlatives is commonplace among international auction houses but the item that Sotheby’s will be auctioning in London on June 29 may defy ordinary words.

Calling it “one of the greatest finds of the century,” the auction house is offering a 1,109-carat rough diamond in a standalone auction. Is it hyperbole? Not likely. It is the largest gem-quality rough diamond to be discovered in more than a century and the largest rough diamond in existence today, the auction house said.

Named the “Lesedi la Rona,” it is estimated to sell for more than $70 million.

Photo credit: Donald Bowers/Getty Images for Sotheby's

The gem was unearthed by Lucara Diamond Corp., a Canadian diamond mining company, in November 2015, at its Karowe mine in Botswana. Described as being about the size of a tennis ball (measuring approximately 66.4 x 55 x 42 mm), this rough diamond of “exceptional transparency and quality” is around 2.5 to more than 3 billion years old, the auction house said.

Sotheby’s said it has been more than 100 years since a diamond of this size and quality of the Lesedi La Rona has been found. Its size is exceeded only by the legendary Cullinan Diamond, mined in South Africa in 1905. The 3,016.75-carat diamond produced nine major diamonds that are part of the historic Crown Jewels of the United Kingdom, including the Great Star of Africa—considered to be the largest top-quality polished diamond in existence, weighing 530.20 carats.

Photo credit: Donald Bowers/Getty Images for Sotheby's

According to Sotheby’s, the Gemological Institute of America said the Lesedi La Rona’s “top color and transparency has the ‘limpid’ appearance commonly associated with type IIa diamonds,” which accounts for fewer than 2 percent of all gem-quality diamonds. They are considered “the most chemically pure and often show extraordinary optical transparency,” according to the GIA.

Sotheby’s adds that, according to independent reports, it has the potential to yield the largest top-quality diamond that has ever been cut and polished with an additional “high probability” that the resulting polished diamonds will be “D” color—the highest color classification for white diamonds.

Photo credit: Donald Bowers/Getty Images for Sotheby's

“The Lesedi la Rona is simply outstanding and its discovery is the find of a lifetime,” said David Bennett, worldwide chairman of Sotheby’s Jewellery Division. “Every aspect of this auction is unprecedented. Not only is the rough superlative in size and quality, but no rough even remotely of this scale has ever been offered before at public auction.”

“We are very excited to be partnering with Sotheby’s on this landmark auction,” added William Lamb, president and CEO of Lucara Diamond Corp., “The forthcoming sale presents a unique opportunity to present this extraordinary diamond to a worldwide audience.”

Photo credit: Donald Bowers/Getty Images for Sotheby's

The Lesedi la Rona will be on view at Sotheby’s New York on May 7 and at Sotheby’s London from June 18 - 28.

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