Diamond the size of a tennis ball could fetch $70 million

LONDON  — It’s a rock for the ages.

A 3-billion-year-old diamond the size of a tennis ball — the largest discovered in over a century — could sell for more than $70 million, auctioneer Sotheby’s said Wednesday.

The auction house plans to offer the Lesedi la Rona diamond in London on June 29.

The diamond was unearthed in November in Botswana at a mine owned by Canada’s Lucara Diamond Corporation. It measured 1,109 carats, the second-largest gem-quality rough diamond ever discovered. Its name means “our light” in the Tswana language of southern Africa.

The auctioneer said the rough gemstone “of exceptional transparency” could yield the largest top-quality diamond ever cut and polished.

David Bennett, chairman of Sotheby’s jewelry division, called the discovery “the find of a lifetime” and the auction 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,” he said.

The largest diamond ever found was the 3,106-carat Cullinan diamond, unearthed in South Africa in 1905. It was cut into nine pieces that form part of the U.K. Crown Jewels.

The Lesedi la Rona could smash the record price for a diamond of $48.5 million, paid at a Geneva sale last year for the 12.03-carat polished “Blue Moon” diamond. Hong Kong billionaire Joseph Lau picked it up as a gift for his 7-year-old daughter. TVJ

source: lifestyle.inquirer.net

Pink diamond nets $28.55M in healthy stone market – Christie’s

GENEVA - A large diamond of a rare pink hue fetched 28.725 million Swiss francs ($28.55 million) on Tuesday, the star lot of Christie's semi-annual jewelry sale in Geneva, where designer eye candy drew strong prices.

A Chinese client based in Hong Kong bought the cushion-shaped pink diamond weighing 16.08 carats and graded vivid fancy pink, which is set in a platinum and gold ring surrounded by a double row of pave-set white diamonds, the auction house said. Its pre-sale estimate was $23 million to $28 million.

The seller was not identified and the buyer, who has named the pink diamond "The Sweet Josephine," wished to remain anonymous, Christie's said. The diamond's origin was not disclosed.


"It is absolutely a top price for a stone of this quality, because of its color. There are few pink-pink the way this one was," said Francois Curiel, chairman of Christie's Luxury Group and its veteran jewelry expert, who conducted part of the evening auction in a packed salesroom.

"It shows we are dealing with a very healthy stone market," he told reporters. "There is lots of cash in the world right now. At the moment, works of art, diamonds and jewels are a safe haven."

In almost 250 years of auction history, only three pure vivid pink diamonds of over 10 carats have appeared for sale, according to Christie's.

A pear-shaped flawless white diamond weighing 50.48 carats fetched 7.89 million Swiss francs in heated bidding, the evening's second-highest lot, selling to a dealer in the room.


Jewels by Harry Winston, Van Cleef & Arpels, Boucheron, Cartier and Bulgari soared above pre-sale estimates, including a Bulgari coral onyx and diamond bracelet-watch designed as a coiled serpent.

In all, some 80 percent of the 400 lots on offer sold for 110.26 million Swiss francs, Christie's said, eclipsing expectations.

Christie's, founded in 1776, is now owned by French retail magnate Francois Pinault's holding company Artemis SA.

A large blue diamond, one of the world's rarest, could fetch $35 million to $55 million at auction on Wednesday, rival Sotheby's said last week, as an industry group reported strong prices for color diamonds ahead of the holiday season.

A Modigliani nude painting was sold to an unnamed Chinese buyer at Christie's on Monday for $170.4 million, the second-highest price ever for a work of art at auction, as deep-pocketed collectors continue to pay, and pay big, for some rare masterpieces up for sale in this year's autumn auctions season.

"China has been very active yesterday in New York and tonight in Geneva," Curiel said. — Reuters

Jeweller Graff unveils $55-mn diamond-encrusted watch

BASEL - British jeweller Graff unveiled Thursday what it described as the "most valuable watch ever created" -- a timepiece replete with more than 110 carats of diamonds costing $55 million (40 million euros).

Unveiled at the watch industry's biggest annual tradeshow, BaselWorld, the glittering wristwatch, called "Hallucination", is set with a multitude of rare colored diamonds.

Gemologists, designers and craftsmen had spent thousands of hours to get the watch right, said the jeweller.

"The Graff Hallucination is a sculptural masterpiece; a celebration of the miracle of coloured diamonds," said company chairman Laurence Graff in a statement.

"For many years I have thought about creating a truly remarkable watch that illustrates our all consuming passion for diamonds. The Hallucination has made my diamond dream a reality."  — Agence France-Presse

source: gmanetwork.com

Engagement Rings That Last A Lifetime

What Are The Celebrities Choosing For Engagement Rings?

Engagement rings are a symbol of commitment and also love that endures a lifetime. Just like the sentiment, the engagement ring you choose should also be timeless. Even as long ago as the early Roman period, men would give betrothal rings to their special loved one to indicate their desire to wed. In those days, the rings used to be crafted from iron. The practice of choosing gold and silver rings was a later adaptation.

Engagement rings have come a long way from the iron rings of middle ages times to the diamond studded platinum rings on the market today. When we discuss jewelry, the very first thing that comes to mind is stars. Over time, stars have been seen donning some of the most exquisite pieces of jewelry including some spectacular engagement rings. Just about the most well-known engagement ring could be the one worn by late lady Diana, Princess of Wales. The ring had incredible 14 gemstones, an enormous 18 carat sapphire in the center, which was surrounded by 14 smaller diamonds. The 6 carat pink engagement ring given by Ben Affleck to Jennifer Lopez before their break up is also rather famous. Nikki Reed may be the latest celebrity to flaunt an incredible engagement ring.

Engagement Ring given by Paul McDonald to Nikki Reed

Twilight star Nikki Reed and Paul McDonald of American Idol fame make a attractive couple. According to a Nikki verified the news concerning her engagement with Paul at the 2011 MTV movie awards. She set the media abuzz with the news about her engagement as she stepped on the red carpet dressed in a chiffon black colored dress, Jimmy Choo peep toes and a gorgeous engagement ring.

Paul and Nikki met the very first time in March 2011. Following a whirlwind romance of only 2 months, they're so deeply in love they have made a decision to take the next step. According to jewelry experts, the engagement ring worn by Nikki is a contemporary type of an eternity ring made from diamond and platinum. The ring can be used as a stunning wedding band as well. It features full diamonds, that are set in interweaving platinum. It is a lovely representation of a lifelong bond between two people. The estimated cost of the ring is just about $30,000.

Tips to Choose the Perfect Engagement Ring

Prior to engagement ring searching, it is advisable to be aware of some things about them so you do not find yourself making a bad bargain. Cost is often the most crucial consideration. Remember that high quality diamonds are usually really costly. In metros, for example at an [Austin jeweler], you may need to spend around $1000 for a good cut of diamond. Various other critical things to consider include the style and color. You can choose silver, gold or platinum rings. Furthermore, you are likely to have more variety, if you buy a stand-alone engagement ring rather than a set of engagement and wedding rings. But you must take care that the rings go well together. Locals from large cities like Austin will have no trouble in getting a wide variety of [Austin engagement rings] to choose from.
The above was written by Michael Crane who is a precious stone expert and past lawyer. He has owned and operated a jewelry store in austin engagement rings and jewelry austin texas being the specialty for clients regarding one of the most incredible decisions in their life.
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