The 102-carat flawless white diamond was bought for $15.7 million.

Hong Kong, China:

An exceedingly uncommon 102-carat flawless white diamond bought for $15.7 million at a web based public sale in Hong Kong on Monday night.

Described as “fully flawless” by auctioneer Sotheby’s, the 102.39-carat stone went to an unnamed phone bidder for HK$122 million in an public sale held on-line due to the coronavirus pandemic.

“The client of this diamond has bagged a discount,” mentioned Tobias Kormind, managing director of on-line jeweller 77 Diamonds.

Throughout a time of financial uncertainty, he mentioned, “savvy buyers are at the moment falling over themselves to accumulate different secure haven belongings like diamonds, property and gold”.

Solely seven different white diamonds larger than 100 carats and of the identical high quality have ever gone beneath the hammer.

The stone was bought with no reserve worth, which means the diamond went to the very best bidder and didn’t want to fulfill a minimal threshold, the primary time in public sale historical past {that a} diamond of this calibre has been supplied that manner.

The tactic could be dangerous however may generate a buzz that sellers hope will elevate the ultimate worth.

On this case, the vendor’s transfer was “a courageous choice that has come again to chunk them”, in accordance with Kormind.

Initially a 271-carat tough stone, the gem was found within the now-closed Canadian Victor Mine in 2018.

“(The) diamond is the most effective of the most effective relating to distinctive white diamonds and it’s tough to overstate its rarity and wonder,” mentioned Sotheby’s worldwide jewelry chairman Gary Schuler forward of the sale.

In November 2017, the most important diamond ever introduced at public sale, with greater than 163.41 carats, bought in Geneva for greater than $33.eight million, charges and commissions included — a world file on this class.

However it isn’t a file general for a diamond: in April 2017, the enormous “Pink Star” pink diamond bought for $71.2 million at a Sotheby’s public sale in Hong Kong.

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