In Geneva, the largest white diamond ever auctioned


The Rock, the largest white diamond ever auctioned, will be offered in Geneva on May 11, 2022. Picture taken on May 6, 2022 (AFP/Fabrice COFFRINI)

The largest white diamond ever put up for auction will be offered next Wednesday in Geneva, alongside a historic canary yellow diamond, part of the proceeds of which will go to the Red Cross.

At 228.31 carats “The Rock” “is the largest white diamond ever offered at auction. It is a truly exceptional pear-cut diamond,” Max Fawcett, head of the department, told AFP. Christie’s jewelry store in Geneva.

The price of the gemstone, whose owner is from North America but who remains anonymous, could reach record highs.

“It is perfectly symmetrical. It is estimated between 20 and 30 million dollars, and I expect an explosion in bidding,” said Mr. Fawcett.

According to the expert, there is only a “handful” of diamonds of this ilk. The last record obtained by Christie’s for a similar white diamond (163.41 carats) brought the stone to 33.7 million dollars during a sale in November 2017 in Geneva.

‘The Rock’, whose height exceeds that of a golf ball, was extracted from a mine in South Africa in the early 2000s. It was then sold by Christie’s in a voluntary sale by private collector.

– The Red Cross diamond –

The yellow diamond The Red Cross Diamond will be auctioned in Geneva on May 11, 2022. Photo taken on May 6, 2022

The yellow diamond “The Red Cross Diamond” will be auctioned in Geneva on May 11, 2022. Photo taken on May 6, 2022 (AFP/Fabrice COFFRINI)

Bidders will also be able to try to acquire “The Red Cross Diamond”, a 205.07 carat cushion-shaped canary yellow diamond on Wednesday.

“It is estimated between 7 and 10 million Swiss francs. I expect it to achieve fantastic results when it is sold. A large part of the proceeds from its sale will be donated to the International Committee of the Red Cross” , Fawcett said.

The original gem was mined in 1901 at a De Beers company’s South African mine and is said to have weighed around 375 carats, according to Christie’s. As well as ranking among the largest diamonds in the world, a striking feature of the stone is its pavilion, which is naturally faceted in the shape of a Maltese cross.

On April 10, 1918, the stone was first offered for sale at Christie’s in London by the Diamond Syndicate, to benefit the British Red Cross Society and the Order of St. of Malta).

At the time, the diamond was sold for 10,000 pounds (about 600,000 pounds today, or more than 700,000 euros). It had been bought by the famous London jeweler SJ Phillips.

On November 21, 1973, it was put up for sale again at Christie’s in Geneva, for 1.8 million francs. It is now offered for the third time by Christie’s.

The seller wished to remain anonymous but released this statement: “For nearly half a century our family has had the privilege of keeping the Red Cross Diamond. (…) At this auspicious moment in history , we honor the call that others have made before us”.

– More Russian diamonds –

the Furstenberg tiara will be offered for sale in Geneva on May 11, 2022. Photo taken on May 6, 2022

the Furstenberg tiara will be offered for sale in Geneva on May 11, 2022. Photo taken on May 6, 2022 (AFP/Fabrice COFFRINI)

Several other diamonds will be offered on Wednesday, as well as a tiara that belonged to the Princess of Fürstenberg (1867-1948), a member of one of the most important aristocratic families of the Habsburg Empire. Its price is estimated between 400,000 and 600,000 francs.

“The diamond market is incredibly robust this year. The geopolitical situation has been difficult, there are inflationary pressures and diamond prices have not been so high for seven or eight years”, explained Max Fawcett.

The Russian invasion in Ukraine has a major impact on this market.

More than 40% of diamonds are mined in Russia, including the Alrosa mine, but international markets no longer have access to Russian gems, he said.

The conflict has “significant repercussions due to this strong restriction of supply in the current market, by creating strong price increases”, indicated the expert.

And he expects the continued international sanctions on Russia to “continue to drive up prices”.

© 2022 AFP

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