The Rock goes cheap-cheap

Geneva – The Rock, the biggest white diamond yet auctioned, sold for 21.7 million Swiss francs (about R335 million) on Wednesday, far short of the record for such a jewel.

The 228.31-carat stone, larger than a golf ball, was sold in Geneva by Christie’s auction house.

There had been high hopes that The Rock would smash the world record for a white diamond, which stands at $33.7 million (R547 million), a sum fetched in Geneva in 2017 for a 163.41-carat gem.

But the bidding, which started at 14 million Swiss francs, ground to a halt after two minutes at 18.6 million, with the price rising to 21.7 million once the buyer’s premium was added on.

The pre-sale estimate had been 19 to 30 million Swiss francs.

The Rock, a perfectly symmetrical pear-shaped diamond, was sold by an unnamed owner from North America. It was bought by a private collector bidding by telephone.