Next month, Sotheby's will offer a D-color diamond of more than 100 carats in Hong Kong. In particular, at this first price, the diamond did not have a starting price.
On Thursday, Sotheby's said the 102.39-carat oval-shaped lla-type stone is one of only eight white diamonds over 100 carats to ever appear at auction. Global manufacturer Diacore cut and polished the diamond over the course of a year from a 271-carat rough diamond recovered by De Beers at its Victor mine in Canada.
On October 5, Sotheby's will present the diamond in an independent live auction, with online bidding starting on September 15. The company will display the stone in Beijing, Shanghai, New York, Taipei and Hong Kong before the auction.
Image: 102.39 carat white diamond. (Sotheby's)The auction house will offer the diamond without reserve, meaning it does not have a floor price that it needs to meet. Instead, the highest bidder takes home the diamond, regardless of what Sotheby's believes the selling price should be. This is the first time in auction history that an item of its importance and value has been offered for sale in this way, Sotheby's stated.
Patti Wong, President of Sotheby's Asia region, said: “Demand has shown tremendous resilience throughout the first part of the year and we feel it is time to let the market have its say. “Diamonds of this caliber attract interest far beyond traditional collectors. This innovative sale seemed to us the best way to introduce this exceptional diamond to the world in the current circumstances. “