Yellow ‘Sun-Drop’ diamond auctioned for $12.36 million
November 16th, 2011 - 8:13 pm ICT by Aishwarya BhattGeneva, Nov 16 (THAINDIAN NEWS) On Tuesday, a huge yellow diamond known as the Sun Drop broke the record to become the most expensive yellow diamond in the world. During an auction in Geneva, the 110-carat diamond fetched 11.28 million Swiss francs ($12.36 million). The auction was conducted at Sotherby’s on Tuesday.
There were several jewels on sale during the Sotheby’s semi-annual jewellery sale. A total of more than $70 million was realized from the sale on Tuesday.
Sun Drop was mined in South Africa last year. The stone was prepared in the United States by Cora International before it went on the sale. The initial estimate placed the value of the gem between $11 and $15 million.
The chairman of Sotheby’s jewellery department in Europe and the Middle East, David Bennett, said that, “I don’t really see any crisis here at all. We sold nearly every one of the big diamonds within our expectations… It proves the resilience of the diamond market in a time of uncertainty.”
It was not all the jewels that were grabbed during the auction. A blue pearl-shaped diamond was not sold although Sotherby’s had a big expectation of the gem fetching at least $10 million.
A white diamond shaped like a cushion was the second costliest gem during the auction. The stone fetched 6.34 million Swiss francs ($6.96 million).
Another major jewel auction will be held by Christie’s on Wednesday night.
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