An internally “flawless” 100-carat emerald-cut diamond that will go under Sotheby’s hammer in New York on Tuesday is expected to fetch up to $25 million.
The gem, discovered a decade ago at one of De Beers mines in South Africa, is one of just five diamonds over 100 carats and of comparable quality to have been offered at auction, according to Sotheby’s.
“Simply put, it has everything you could ever want from a diamond: the classic shape begs to be worn, while the quality puts it in an asset class of its own,” said Lisa Hubbard, Chairman of North and South America for Sotheby’s International Jewellery Division, in the press release.
The current owner of the diamond spent more than a year studying, cutting and polishing the rough diamond before delivering the stone to the auction house.
Sotheby’s sold the first 100-carat perfect diamond at an auction in 1990. The price per carat for these diamonds has increased from $125,000 to $260,000 from the first auction until the most recent, in 2013, the auction house said.
The stone’s details include “100.2-carat, D colour, Internally Flawless, Type IIa stone”, which, for the uninitiated, means it has the clearest colour, without any blemishes on being magnified and is free from imperfections.
Sotheby’s estimates that the auction, which features more than 350 other pieces, is estimated to achieve more than $50 million in sales.