Markets

Dlawless 163-carat diamond fetches $49.4 million in Geneva auction

Dlawless 163-carat diamond fetches $49.4 million in Geneva auction

Previously, Christie's set an auction record in May 2016 with the sale of a 14.62-carat diamond known as the "Oppenheimer Blue" for $50.6m (£34.7m).

This marks "a new world-record price for a D colour diamond at auction", Rahul Kadakia, auctioneer and head of Christie's worldwide jewels division, told AFP. The auction house said it expected the "masterpiece of unparallelled beauty and exquisite workmanship" to fetch around United States dollars 25 million, with other experts saying it could rake in double that amount. Ten diamond-cutting specialists worked on the rough in NY after it was analysed in Antwerp. A team from Swiss luxury jeweller de Grisogono then created 50 different designs around the 163.41-carat diamond, before opting for an asymmetric necklace with the stone as its centrepiece. The left side of the necklace is made up of 18 emerald- cut diamonds and the right side composed of two rows of pear- shaped emeralds.

The rough diamond was 404.20 carats before it was cut. Christie's Images Ltd 2017
Image The rough diamond was 404.20 carats before it was cut. Pic Christie’s

Some of the world's rarest and most valuable gemstones are up for auction, they all command multi-million dollar price tags, but there is one particular diamond that has become the talk of the town. Originally from the Golconda mines in India, the stone was set in the crowns of almost all kings and emperors of France since the early 18th century, Christie's said. This is the first time that the spectacular diamond has been sold at public auction since the famous sale of the French Crown Jewels in 1887.

The Geneva autumn auction season concludes on Wednesday, when Sotheby's will auction a pink diamond worth as much as US$30 million.

China to send special envoy to North Korea
About 30,000 North Koreans have fled to South Korea, mostly via China, since the end of the 1950-53 Korean War. South Korea said the 12 women, and one man, had chosen to defect to the South.


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