Giant diamond sells for $33.7 million

Giant diamond sells for $33.7 million

A flawless 163-carat clear diamond fetched about $US34 million ($49.4 million) at Christie's in Geneva. Lucapa, the Australian diamond company which mined the stone, says that the diamond originally measured over seven centimetres in length, which makes it the largest diamond ever discovered in Angola.

The largest-ever D-flawless diamond to be put up for auction, the "Creation 1", sold for $33.7 million Tuesday night during an auction at Christie's in Geneva.

The auction house said it expected the "masterpiece of unparalleled beauty and exquisite workmanship" to fetch around $25 million (21.2 million euros), with other experts saying it could rake in double that amount.

The stone was 404.20 carats when it was a rough diamond mined in eastern Angola on 4 February previous year. It took more than 1700 hours to create. He began splitting the rough diamond into two in June previous year and eventually polished the diamond down to an emerald-cut.

Christie's described the stone as "a timeless symbol of beauty" and said it hoped to rake in $6.0-9.0 million (5.1-7.7 million euros) for the diamond.

The Art of de GRISOGONO Creation I was sold at Christie’s auction for USD 33,701,000- a record breaking price
The Art of de GRISOGONO Creation I was sold at Christie’s auction for USD 33,701,000- a record breaking price

Mounted in a diamond and emerald necklace, the white, matchbox-size rock from Swiss jeweler de Grisogono was acquired by an unidentified buyer.

Diamond cleaver Ben Green analysed the gem for months and eventually started working on splitting the rough diamond in two in June past year. It has been set in a necklace which has been called The Art of de Grisogono.

Founder of the Swiss jewellery maker, Fawaz Gruosi, has described the gem as "the most lovely diamond in the world".

Mr Gruosi and his team eventually came up with an asymmetric necklace featuring 18 emerald-cut diamonds on one side with the 163.41-carat diamond as the centrepiece.

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