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    Nov 23
    The Rhone through Geneva, Switzerland.

    The record for yellow diamonds at an auction has been broken by the famed Sun Drop Diamond in the recent auction held by Sotheby’s in Geneva, Switzerland. There has always been a lot of demand for exceptional and rare demands in the auction circuits amongst the collectors, and such records keep getting broken on a regular basis. The Sun Drop Diamond, which is an extremely rare and unique diamond, went for more than USD 10.9 million. The iconic diamond’s true value i.e. its value plus the commission amounts to USD 12.4 million. The pre auction estimates for the value of the Sun Drop Diamond was in the range of USD 11 million and USD 15 million.

    The Sun Drop Diamond is a giant yellow colored and pear shaped diamond that weighs a whopping 110.3 carats. It is a relatively new diamond as it was only discovered last year in South Africa. The diamond also has a rating of fancy, vivid yellow which is the best rating any yellow diamond can get. Experts suggest that diamonds get the rare yellow color through Nitrogen deposits or impurities that get trapped within the carbon molecules before hardening to give off the yellow color. Needless to say, it takes millions of years for the impurities to quicken and give the right color.

    The fact that this is the most any yellow diamond has ever been sold for through an auction was also stated by the head of Sotheby’s jewelry division, David Bennett. David Bennett also went on to reveal that the USD 12.4 million price of the Sun Drop Diamond makes it the eighth most expensive diamond ever sold at an auction. The diamond was bought by an unknown and mysterious telephone bidder while it was put up for auction by Cora International, a New York based company.

    The whole lot put under the hammer by Sotheby’s at this auction consisted of some very rare and brilliant pieces of premiere jewelry full of gems and diamonds. The whole lot was valued at a whopping USD 70 million and was held at the Beau – Rivage Hotel of Geneva. The lot also consisted of a white cushion shaped diamond. This diamond, that weighs 38.88 carats, was sold for an amount of USD 7 million, inclusive of the commission. Another diamond of the lot was sold for USD 1.4 million. This was a 12.01 carats diamond that was mined at Colombia’s Muzo Mines.

    There was also extremely rare premiere jewelry in the lot, of which, only a blue diamond ring sold for USD 4.3 million. While the auction went well in all, there were also certain items of the lot that failed to find buyers. Items of the lot that failed to find buyers include an intricate gold and diamond brooch that looks like a peace dove, another blue diamond ring whose pre auction value was estimated to be USD 7.5 million and a collection of imperial jewels which were expected to draw a lot of attention.

    The imperial collection consisted of a necklace, a brooch and earrings. The suite of imperial jewelry did get a bid but it was not close enough to its valuation. The bid was to the tune of USD 9.3 million. As is the case with any kind of imperial collection of jewelry, this one also carries with it a rich piece of history. This collection of jewels was given to the wife of Khedive of Egypt by Sultan Abdul Hamid II of the Ottoman Empire in the 19th century. In addition to this, further back in time, there were suggestions by Sotheby’s that they were a part of the peace offering made in 1711 to Ottoman Sultan Ahmed II by the wife of the Russian Czar, Peter the Great.

    It is worth mentioning at this point that Sotheby’s has been on somewhat of a roll of late when it comes to auctioning diamonds at record-breaking amounts. Only last year, it sold a diamond for an unbelievable value of USD 46 million. The diamond that broke all records was a fancy, intense pink diamond known as the Graff Diamond. The weight of the diamond was 24.78 carats.

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