Giant diamond in necklace sells for $33.7m at Geneva auction

Bulgaria The Largest Diamond was Sold for USD 34 million

According to the Daily Mail, the D color 11A type diamond was first cut from a 404-carat rough rock which was discovered in the Lulo mine in the African nation of Angola in February 2016; the rock was then analyzed in Antwerp in Belgium and cut in NY.

The Art of de Grisogono, Creation 1, an emerald and diamond necklace set with a rectangular cut, D-color, flawless diamond of 163.41 carats, sold for $33,705,994, setting a new world auction record at Christie's auction in Geneva.

D is the highest colour grade attributed to a diamond, indicating that the stone is completely colourless, and thus extremely rare.

Set in an emerald and diamond necklace, the massive gem had been on tour to Hong Kong, London, Dubai and NY.

"The Art of de Grisogono is one fabulous Christmas present and wallflowers need not apply", Tobias Kormind, head of the 77 Diamonds firm that tracks the global diamond market, said in a statement.

The diamond itself was cut from a 404 carat rough rock which was found in February of 2016 in Angloa's Lulo mines.

The necklace is made of 18 diamonds on one side and two rows of pear-shaped emeralds on the other.

The stone up for sale Tuesday is meanwhile a "much larger diamond, and its title of the largest flawless stone could see it attract a winning bid of over $50 million", he suggested.

It went under the hammer, again to an unidentified telephone bidder, for 12.5 million francs, with the final price tag after taxes and commissions ticking in at 14.4 million francs ($14.5 million, 12.3 million euros).

Also on the block was "Le Grand Mazarin", a 19-carat pink diamond that once belonged to King Louis XIV, Napoleon Bonaparte and other French rulers. Originally from the Golconda mines in India, the stone was set in the crowns of nearly all kings and emperors of France since the early 18th century, Christie's said. The identity of the buyer, however, has not been revealed.

The Geneva autumn auction season concludes on Wednesday, when Sotheby's will auction a pink diamond worth as much as US$30 million.

Tuesday┬┤s sale marked the first time the diamond appeared at auction in 130 years.

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