Published: Wed, November 15, 2017
Finance | By Loren Pratt

Biggest diamond ever to be sold fetches £25 million at auction

Biggest diamond ever to be sold fetches £25 million at auction

Geneva - A flawless 163-carat clear diamond fetched $34m (approximately R487m) at an auction at Christie's in Geneva - but not enough to dispel concerns about the health of the market.

With a drawn-out round of rapid-fire bidding starting at £15million, the necklace was finally sold to a telephone bidder, who wished to remain anonymous. The item is expected to fetch at least $30m (£23m) at auction. The brilliant, which is of extremely high-quality and clearness is made of the 404-carat diamond found past year in Angola.

A further highlight of the sale was Le Grand Mazarin, a light pink diamond of 19.07 carats, and one of the most famous and important Golconda diamonds in history.

The stone, the centrepiece of a gem-studded necklace designed by De Grisogono founder Fawaz Gruosi, was the largest of its kind ever auctioned.

Unsurprisingly it comes with a hefty price tag.

It has since passed through the hands of famous French jeweller Frederic Boucheron and later the Baron von Derwies.

Yesterday's sale marked the first time the diamond appeared at auction in 130 years. It was the final lot of the auction and sold for $14,463,393.

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

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