About My Health Careers Internship MedBlogs Contact us
Medindia LOGIN REGISTER
Advertisement

White Diamond Fetches Record $30.6 Mn at Hong Kong Auction

by Bidita Debnath on October 8, 2013 at 10:41 PM
Font : A-A+

 White Diamond Fetches Record $30.6 Mn at Hong Kong Auction

At a Hong Kong auction, a 118.28-carat white diamond broke a world record when it fetched more than $30 million.

The sparkling translucent stone was sold to a phone bidder at the Sotheby's auction for HK$238.68 million ($30.6 million) following bidding that lasted for more than six minutes.

Advertisement

The egg-shaped stone has been described as the finest of its kind ever to appear at auction. Earlier estimates valued it at $28-$35 million.

The stone, dubbed the "Magnificent Oval Diamond", was discovered in a deep mine in an undisclosed southern African country in 2011.

As a rough stone before being cut, it weighed 299 carats.
Advertisement

The stone, described by Sotheby's as "the largest D colour flawless diamond", has been given the highest quality rating awarded by the Gemological Institute of America.

"D colour" diamonds are rare and colourless and fetch premium prices.

The sale beat the record set at a diamond auction last year, when a 101.73-carat diamond was sold for $26.7 million.

Hong Kong has become a centre for jewellery auctions thanks to growing wealth in China and other parts of the region.

Source: AFP
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
News Category
What's New on Medindia
First Dose of COVID-19 Vaccines May Improve Mental Health
Printed Temperature Sensors help with Continuous Temperature Monitoring
Health Benefits of Giloy
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.


Recommended Reading
Internally Flawless $60-mn Pink Diamond for Auction in Geneva
Sotheby's showed off a 59.6-carat pink diamond that will be auctioned in the Swiss city of Geneva .....
Nanodiamonds can Boost Effectiveness of a Common Leukemia Drug
A joint study has found that the delivery of a common leukemia drug to leukemic cells can be ......
Giant White Diamond In Hong Kong Could Fetch $35mn
Auction house Sotheby's said that a 118.28-carat white diamond, set to break records, is to go ......
Hong Kong to Host Auction of Rare Blue Diamond
October will see the auction of a rare round blue diamond in Hong Kong...

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2021

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use