In plush, quiet rooms in selected locations across the world, you can just about make out the hushed whispers of diamond enthusiasts as they quote millions for some of the rarest gems ever found, often anonymously over the phone. Auctions of rare, natural diamonds are meticulously planned events involving unbridled passion, obscenely huge sums of money and racing pulses carefully veiled in a shroud of studied patience and elite company. At stake here are spectacular stones unearthed once in a few billion years, valued for their weight, shape, colour and history and sought after by collectors who will stop at nothing to get their hands on the exclusive pieces.
Each year witnesses record-breaking sales as the demand for rarity rises and a penchant for investment diamonds increases. There are stones, such as the ‘Princie Diamond’ and ‘The Blue’ that have gone down in history for fetching millions. Some have never appeared at auctions, such as the ‘most famous diamond in the world’ – the 45.52-carat ‘Hope Diamond’ – a deep blue gem dating back to the 17th century that is worth $350 million and was bequeathed to the Smithsonian Institute by Harry Winston in 1958. A handful of less fortunate ones find no takers, such as the Lesedi la Rona. But, this brief spell of lull can’t withstand the force that the diamond market is reckoned with.
Christie’s and Sotheby’s, who dominate the auction market worldwide, recorded an estimated $1.2 billion in gem and jewellery sales between them for the year 2015-2016. Other auction houses that sold significant gems include Bonham’s of London and Tiancheng International in Hong Kong, adding $70-$80 million to the total. While the total is slightly down from the last year, a fact that Francois Curiel, chairman of Christie’s, Asia-Pacific, admits, it seems like the market showed great interest in rare, top-quality stones with very high prices.
Here’s a lowdown on the mind-bogglingly expensive diamonds (polished and rough) that went under the hammer in 2015-2016.
The Perfect Diamond. Photo: Instagram @champagnegem
1. A 100.20-carat ‘Perfect Diamond’ led the sales at Sotheby’s in New York in April, 2015. The classic Type II a, emerald-cut, internally flawless, D colour stone sold for $22.1 million (approx. £16.6 m) – the highest price ever achieved for a colourless diamond auctioned in New York. Mined in southern Africa within the last 10 years, its transparency was likened “to an icy pool of water”.
Fancy Vivid Pink. Photo: Instagram @frankbeverett
2. In May 2015, Sotheby’s in Geneva sold an 8.72-carat GIA-graded Fancy Vivid Pink diamond for $15.9 million (approx. £11.9 m). The cushion-cut VS2 diamond was reportedly linked to Princess Mathilde Bonaparte, niece of Napolean Bonaparte. It had been stored in a bank vault since the end of World War II.
The Sweet Josephine. Photo: Instagram @diamondhousejewellery
3. A Hong-Kong bidder named Joseph Lau bought a Fancy Vivid Pink diamond weighing 16.08 carats for a whopping $28.5 million (approx. £18.8 m) at Christie’s in Geneva in November, 2015. He named it ‘The Sweet Josephine’ for his daughter, named Josephine. The large cushion-shaped stone was owned by an American family for the past 15 years and is one of only three certified gems of its type offered for sale in 250 years.
The Blue Moon of Josephine. Photo: Instagram @anthonysfinejewellery
4. A rare and flawless 12.03-carat Fancy Vivid Blue diamond was sold at Sotheby’s in Geneva on November 19, 2015, for $48.4 m (£36.3 m). The cushion-shaped diamond, mounted on a ring, was bought by the same Hong Kong bidder who bought ‘The Sweet Josephine’ a day earlier. He named it ‘The Blue Moon of Josephine’. The diamond set a world record for any jewel at more than $4 m a carat, and was found in South Africa’s Cullinan mine in January 2014.
De Beers Millennium 4. Photo: Instagram @bostonbijoux
5. The April of 2016 saw the De Beers Millennium Jewel 4 sold for $32 million (£22.5 m) to an Asian private buyer at Sotheby’s in Hong Kong, setting off a chain of high-priced auctions of rare gems. The 10.10-carat oval-shaped Vivid Blue diamond which is internally flawless was part of the Millennium Jewels collection that was unveiled by De Beers in 2000 to commemorate the millennium. It was the target of an attempted multi-million pound robbery in November 2000, which was foiled by the police. The Millennium Blue diamonds originated in South Africa’s Cullinan mine.
The Oppenheimer Blue. Photo: Instagram @mussonjewellers
6. The largest Fancy Vivid Blue diamond ever offered at auction sold for a record $57.5 million (£43 m) on May 18, 2016. The ‘Oppenheimer Blue’, a 14.62-carat rectangular-shaped gem, was auctioned at Christie’s in Geneva and bagged the highest price ever paid for any gemstone at auction. The magnificent stone with VVS1 clarity is set in a platinum ring, flanked on either side by a trapeze-shaped diamond. It was previously owned by Sir Philip Oppenheimer, a member of the family that once controlled the De Beers Mining Company.
The Unique Pink. Photo: Instagram @queenyprestigegems
7. The month of May 2016 proved productive for diamond auctions, with the ‘Unique Pink’ becoming the most expensive Fancy Vivid Pink diamond ever to sell at auction. Sotheby’s in Geneva sold the pear-shaped 15.38-carat Fancy Vivid Pink diamond for $31.6 million (£23.7 m) to an Asian private buyer who bid over telephone and remains anonymous. Set in a simple ring, it is the largest diamond of that grade ever to go under the hammer. The diamond was mined in the old Kimberley deposits in South Africa.
The Aurora Green. Photo: Instagram @mussonjewellers
8. A 5.03-carat green diamond, named the ‘Aurora Green’, set two world auction records for a green diamond on May 31, 2016 when it sold for $16.8 million (£12.6 m) at Christie’s Hong Kong Magnificent Jewels sale. The rectangular-cut Fancy Vivid Green diamond with VS2 clarity is mounted on a gold ring and surrounded by circular-cut pink diamonds. It was purchased by Hong-Kong-based Chow Tai Fook Jewellery, one of the largest jewellery retailers in the world.
The Constellation. Photo: Instagram @lucaradiamond
9. The year 2016 so far clearly belongs to ‘The Constellation’ that sold for $63 million (£47 m) on May 8, 2016, a new record for a rough gem. Canadian mining firm Lucara Diamond Corporation sold the 812.77-carat rough to Dubai-based Nemesis International DMCC, but has retained a 10 per cent interest in the gem, allowing it to profit from further transactions after it is polished and cut. The diamond was pulled out of a mine in Botswana in November 2015.
The 404-carat rough gem. Photo: Instagram @degrisogono
10. On May 8, 2016 Swiss jeweller De Grisogono SA bought the rights to market a 404-carat rough diamond – another of Lucara Diamond Corporation’s major finds – from Nemesis International DMCC, which had purchased it for $22.5 million (£16.9 m) earlier in 2016. One of the world’s 30 largest, top-quality rough diamonds ever found, the stone was discovered at Lulo mine in Angola and would take about six months to cut.