Di­a­mond brings record $21.5 mil­lion

The Pak Banker - - Front Page -

GENEVA

The Arch­duke Joseph Di­a­mond. The in­ter­nally flaw­less stone, weigh­ing 76.02 carats, orig­i­nated from the Gol­conda mines in In­dia. It was sold by Christie's In­ter­na­tional dur­ing its jewel auc­tion in Geneva, Switzer­land, on Nov. 13, 2012 for a price of $21.5 mil­lion. Known as the Arch­duke Joseph Di­a­mond, the in­ter­nally flaw­less stone was the most highly val­ued lot in a jew­elry auc­tion held by Christie's In­ter­na­tional at the Four Sea­sons Ho­tel des Ber­gues, Geneva.

The gem was bought by tele­phone bid­der against an es­ti­mate of $15 mil­lion to $25 mil­lion, based on ham­mer prices. Us­ing Christie's ex­change-rate fig­ures this gives a price of $282,545 per carat, a record for a col­or­less stone, beat­ing the $276,600 set for the Beau Sancy di­a­mond at Sotheby's (BID), Geneva, in May.

The Arch­duke Joseph was orig­i­nally sourced from the Gol­conda mines in In­dia, which pro­duced the 105.6carat Koh-i- Noor of the U.K. Crown Jew­els. The stone was the largest per­fect Gol­conda di­a­mond to have ap­peared at auc­tion.

"The best di­a­monds have be­come ex­traor­di­nar­ily valu­able," Geoffrey Munn, manag­ing di­rec­tor of the Lon­don­based jew­eler Wart­ski, said in an in­ter­view be­fore the sale. "There's a sense at the mo­ment that money is like sand run­ning through fin­gers and there's a scram­ble to buy jew­els as a hedge."

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.