We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

A Sotheby's employee displays the 118-carat diamond. Nick Ansell/PA Wire
Bling Bling

118 carat diamond to go on auction in October

The diamond is expected to fetched between $28 and 35 million at an auction next month.

IF YOU ARE in the market for ostentatious bling, Sotheby’s in New York has just the item for you.

The auction house is set to sell off what it calls the greatest white diamond in the world, a 118-carat stone the size of a small egg.

The diamond is expected to raise between $28 and $35 million and a diamond expert at Sotheby’s says that it is a “privilege” to be selling it.

“This is the greatest white diamond we’ve ever had the privilege to sell,” said Quek Chin Yeow, deputy chairman of Sotheby’s Asia and an international diamond expert.

The owners of the diamond wish to remain anonymous, but this is just the fourth time Sotheby’s have sold off a diamond of over 100 carats.

It’s the largest, most significant such diamond graded by the Gemological Institute of America

The reason these stones are going on the block in Hong Kong, Quek said, is that it has become a centrefor jewellery sales and it’s there that the $1.7 million record price per carat for vivid blue diamonds was set — with the sale of a 6-carat blue diamond for $10.2 million in 2011.

Read: French police arrest member of infamous ‘Pink Panther’ jewel-theft gang
Read: Another jewel theft in Cannes as thieves swipe €70,000 diamond ring

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.