Alrosa Spectacle, a 100.94 carat diamond that is thought to be the largest ever cut in Russia, will be auctioned in Geneva later this month.
The diamond could fetch between 12 million and 18 million Swiss francs ($13.32 million – $19.96 million) when it goes under the hammer at Christie’s May 12.
“This fantastic 100 carat D color diamond was cut from a rough stone that originally weighed more than 200 carats. It was called the Sergei Diaghilev rough diamond and it was mined in 2016,” Marie-Cecile Cisamolo, a specialist in the auction house’s jewelry department, said.
“Between the rough and diamond that we’re offering today, it took one year and eight months to cut into this perfect stone.”
The diamond is one of 144 lots on offer in the sale, which also includes rings, earrings, brooches and other pieces made with diamonds, sapphires and rubies.
Christie’s will sell a 100.94 carat diamond at its upcoming Magnificent Jewels auction in Geneva, where it expects the stone to fetch up to $18 million.
The emerald cut, D color, internally flawless diamond, called the Spectacle, originated from a 207.29-carat rough Alrosa unearthed in 2016 at its Zarnitsa pipe in Yakutia, Christie’s said Monday.
Alrosa cut the stone at its polishing facility in Moscow over the course of a year and eight months, Christie’s noted. The diamond the largest ever manufactured in Russia will lead the May 12 auction.
The Spectacle is the third D-color, 100-carat-plus diamond the auction house has sold over the past 10 years. The Winston Legacy, a 101.73 carat, D flawless stone, went for $26.7 million in Geneva in 2013, and the 163.41 carat, D flawless Creation I fetched $33.7 million in 2017.
“We are fascinated to present this long awaited gem,” said Alrosa CEO Sergey Ivanov. “A part of our The Spectacle Collection, bearing the same name, this exceptional 100.94 carat diamond displays a breathtaking performance, which is a natural wonder revealed by human hand. Astonishing size, combined with impeccable color and quality, characteristics and flawless provenance guarantees, make the Spectacle a unique occurrence.”
Amid economic uncertainty, the super-rich are looking to ultra-rare precious gemstones as a ‘safe’ store for their wealth
Fine jewellery sales are seeming to weather the coronavirus crisis, thanks to lockdown proposals and demand for precious pieces to mark birthdays and anniversaries. Some jewellers report that people are spending more on gifts than usual, in lieu of ‘proper’ face-to-face celebrations.
And at the high end of the market, collectors are still investing in rare gemstones – sometimes seeing them as a safer store for their money than the volatile stock market or property.