In exciting huge diamond news, Sotheby’s NY will auction a 74.9 carat diamond on April 17th .The gargantuan sparkling majesty will be part of 399 other items sold, and is potentially flawless. The pear-shaped diamond is expected to be worth between $9 and $12 million.
According to Sotheby’s this is the most important white diamond auctioned in North and South America. It is also exceedingly rare to discover a pear-shaped diamond with more than fifty carats with a D color designation. The owner purchased the diamond in 2001 for the basement bargain price of $4.3 million; if the auction house’s estimates are correct, he’ll have tripled his investment in a just 12 years. That certainly beats the stock market performance over the same period.
That said, an auction house’s estimate isn’t the same as a sold diamond. 2011 saw a 50-carat diamond which expected to bring $10 million at auction sell in Canada for a paltry $2.7 million. Even more surprising, that number still set a Canadian record for the high value of a diamond sold at auction. The 50-carat bargain was approximately the size of a quarter.
Start with a quarter-sized 50-carat diamond and add half again. Now you’ve got the most important white diamond to ever be auctioned in North or South America. The pear shaped diamond is also known as the teardrop diamond. It is a combination of marquise and the round-brilliant cut. It captures light and reflects it with sparkle, brilliance, and elegance. We can only imagine how elegant it looks at a size bigger than a quarter.
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