Flawless 102-Carat Diamond A Bargain At $16m

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Flawless 102-Carat Diamond A Bargain At $16m

A rare 102-carat white diamond has sold at auction for $15.7m (£12.1m) in what experts say is a “bargain”.

The gemstone went to an unnamed telephone bidder. The auction was held online by Sotheby’s in Hong Kong due to the pandemic.

The diamond was taken from a 271-carat stone which was discovered at a Canadian mine in 2018.

Only seven other diamonds larger than 100 carats and of the same quality have gone under the hammer.

The stone did not have a reserve price – a minimum price that the seller is willing to accept for an item.

It is the first time in history that a diamond has sold at auction this way.

Sotheby’s described the diamond as “flawless” and said it was “difficult to overstate its rarity and beauty”.

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Tobias Kormind, managing director of online jeweller 77 Diamonds, said the buyer had “bagged a bargain”.

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He said that by not having a reserve price, the seller had made a “brave decision that has come back to bite them”.

In 2017, a necklace featuring a 163-carat diamond fetched $33.7m at a Christie’s event in Geneva. The diamond, taken from a 404-carat stone in Angola, is said to be the largest diamond ever presented at auction. The buyer’s identity was not revealed.

The same year, a rare pink diamond weighing just under 19 carats fetched 50.3m Swiss francs (£42.3m) at auction, a record price per carat.

The price of around $2.6m per carat marked a world record for a pink diamond, according to the Europe head of auction house Christie’s.

Flawless 102-Carat Diamond A Bargain At $16m

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