Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
LAST UPDATE | 11 May 2022
“THE ROCK”, THE biggest white diamond ever auctioned, sold for a hammer price of 18.6 million Swiss francs ($18.8 million) today, far short of the record for such a jewel.
The 228.31-carat stone, larger than a golf ball, was sold by Christie’s auction house in Geneva. The world record for a white diamond still stands at $33.7 million, fetched in the Swiss city in 2017 for a 163.41-carat gem.
The Rock is currently in the hands of an unnamed owner from North America. Pre-auction, it was thought the diamond could fetch up to $30 million (€28 million) – or more.
The 228.31-carat stone, larger than a golf ball, is “a truly exceptional pear-shaped diamond”, said Max Fawcett, head of the jewels department at Christie’s auction house in Geneva.
It is “the largest white diamond ever to be offered at auction”, he told AFP at a preview.
The Magnificent Jewels auction at the luxury Hotel des Bergues in Geneva began at 1400 GMT.
”It’s perfectly symmetrical and is estimated at $20 to $30 million (€19 to €28 million),” Fawcett said.
The expert said that there were only a handful of diamonds of similar size and quality to The Rock. The Christie’s record for a similar white diamond is $33.7 million, fetched in Geneva in 2017 for a 163.41-carat gem.
The large diamond was extracted from a mine in South Africa in the early 2000s and has been shown in Dubai, Taipei and New York ahead of the sale in Geneva.
Red Cross gem
The Rock is up for grabs alongside a historic intense yellow diamond associated for more than a century with the Red Cross, which will receive some of the profits from its sale.
The Red Cross Diamond is a cushion-shaped, 205.07-carat canary yellow jewel, which has a price estimate of seven to 10 million Swiss francs (€6.7 to €9.5 million).
“I expect that it will achieve much more on the day of sale,” said Fawcett.
A large chunk of the proceeds will be donated to the International Committee of the Red Cross, which is headquartered in Geneva.
The original rough stone was found in 1901 in a De Beers company mine in South Africa and is said to have weighed around 375 carats.
As well as ranking among the largest diamonds in the world, a striking feature is its pavilion, which naturally bears the shape of a Maltese cross.
The stone was first put up for sale on 10 April 1918 at Christie’s in London. It was offered by the Diamond Syndicate in aid of the British Red Cross Society and the Order of St John.
The Red Cross Diamond fetched £10,000 – approximately £600,000 (€702,000) in today’s money. It was bought by the London jewellers S.J. Phillips.
It was sold again by Christie’s in Geneva in 1973, fetching 1.8 million Swiss francs, and is now being offered by the auction house for a third time.
Russia restrictions
Several other diamond rings, necklaces and bracelets could fetch over $1 million at the auction.
Also being sold is a tiara that belonged to princess Irma of Furstenberg (1867-1948), a member of one of the most pre-eminent aristocratic families in the Habsburg Empire.
It is estimated to go for 400,000 to 600,000 Swiss francs, or €383,000 to €575,000.
“The diamond market at the moment is very, very strong,” said Fawcett.
He said rising demand, supply constraints due to “geopolitical issues” and inflationary pressure on commodities, including precious stones, was pushing the market to highs not seen since its 2013-2014 peak.
The Russian invasion in Ukraine has had a major impact.
More than 40% of the world’s diamonds are mined in Russia, including the famous Alrosa mine, but international markets no longer have access to Russian gems, said Fawcett.
The supply constraint has created major price hikes and with the sanctions imposed on Moscow following the 24 February invasion, “prices will only continue to increase”, he said.
To those who complain, “Why do we still need Pride?:
Because places like this still exist and could be a death sentence for anyone in the LGBTQIA+ community.
@Honorary Derry Girl: Were there protests about the death sentence for homosexuality in many Muslim majority countries at pride? I’m all for anyone living their lives however they want free of bigots, but the failure of pride to call this out is hypocrital. Maybe they do bring it up and I’m wrong, but I’ve never seen it.
@D74Life: That’s a very good point- I agree that should be done but while we’re at it, we could also include countries right within the EU. Pride is pretty much a large positive demonstration of sexual identity but it should also be a message to the world that we’re all equal without singling out a particular religion or country. Being part of the LGBTQIA+ community can be an executable offence in Christian countries like Uganda as well as Muslim countries like Iran.
@Honorary Derry Girl: Absolutely, and it’s great to see pride highlighting Hungry. They’re not alone in Eastern Europe or Russia of course either. My point was just it’s relatively easy to have a go at European mostly white countries. Doing so about Muslim countries is something that people shy away from for fear of being called racist. Even those these countries literally kill homosexuals. I’m not having a go at pride, it’s a difficult subject. But unless it’s addressed, the accusation of hypocrisy will always be there.
@Honorary Derry Girl: Rubbish. As an old git I have know about gays since I was in high school. They are just like everyone else, free to choose their sexual partner unless it is coercive. I was taught to embrace all humanity in its many forms. Labels are not conducive to understanding.
It says a lot about their sexual insecurities and their fragile beliefs when a cartoon kiss upsets them. There is no place on this planet for unfounded hatred of others that are simply living their lives.
If you have no problem with a man kissing a woman in a Disney movie (especially unconscious women like Snow White and Sleeping Beauty) but have a problem with two girls doing the same thing, you’re a homophobic bigot.
Disney has its many issues but fair play to them for this. Yes they are hypocritical but this is a start. Hopefully they will continue with this
@HarveyLemonade: Compare that with Warners cutting a spoken reference to a same sex relationship in Fantastic Beasts: The Secrets of Dumbledore for release in China.
Ban it over a single kiss? Wtf is wrong with these countries.
It’s Cancel Culture. PC gone mad. So woke.
I never see them take issue with a straight kiss in children’s cartoons. Same with radio discussions; never a topic taking issue with straight people.
@Dean: I think your getting confused. This is right wing conservative censorship. Religious fundamentalism.
Can we not just let Children……. BE CHILDREN….FFS
@Dónal Ó Keeffe: But then they might grow up as adults who aren’t available to be bartered off for a fee to their brothers or uncles.
@Dónal Ó Keeffe: Won’t someone please think of the children!
Dónal “Helen Lovejoy” Ó Keeffe
@Dónal Ó Keeffe: and how are they not being children? Are you suggesting there’s something wrong with the movie?
@Dónal Ó Keeffe: what are you talking about???
I wonder what the anti-woke crusaders make of this. Are they still supporting fReE sPeEcH or are they now aligning their views with conservative Islam, presumably under the guise of their usual “let kids be kids” shtick?
Disney need to keep the kiss in it as in this way at least it might be watched out of curiosity. Going by the reviews, it’s the only interesting thing in the film.
Too bad, how sad. No one is forcing theatres in Malaysia to show this film. People are free to watch or not watch if they want.
have your say