AuctionsJan 12, 2022
Bonhams Acquires Nordic Auction House BukowskisAuctionsJan 18, 2022
‘The Enigma,’ a 555-Carat Black Diamond, Could Sell for $6M at Auction
The massive natural fancy black diamond will be offered without reserve at Sotheby’s next month.
The 555.55-carat “Enigma” diamond will be the largest cut diamond to appear at auction when it hits the block at Sotheby’s next month. The diamond will be sold without reserve.
Dubai—A mammoth black diamond soon will make its auction debut.
In February, Sotheby’s will put “The Enigma” up on the block. Weighing 555.55 carats, Sotheby’s said it is the largest faceted diamond of any kind to ever appear at auction.
The Engima is being sold without reserve, meaning there is no minimum bid required to win the stone, though the auction house said it believes the diamond could achieve £3 million-£5 million ($4.1 million-$6.8 million).
Both GIA and Gübelin issued reports for The Engima, identifying it as a natural fancy black diamond.
GIA’s library said natural fancy black diamonds have a Mohs hardness of 10, like other diamonds.
They owe their color to numerous minute dark crystals or clouds of graphite, magnetite, hematite, or native iron, it added, and because they have so many inclusions, black diamonds are difficult to polish.
The Enigma is a free-form faceted stone, both labs stated in their reports. Its shape is inspired by the hamsa, a palm-shaped symbol that is a sign of protection.
The hamsa is associated with the number five, reflected in the diamond’s 555.55 carats as well as its 55 facets.
In 2004, when it issued the grading report, GIA said The Enigma was “the largest fancy black, natural color and largest diamond” it had graded to date, and Gübelin said it was the largest faceted diamond it had examined to date.
The stone was also listed as the largest cut diamond in the world in the 2006 Guinness Book of World Records.
Related stories will be right here …
In February, Sotheby’s will put “The Enigma” up on the block. Weighing 555.55 carats, Sotheby’s said it is the largest faceted diamond of any kind to ever appear at auction.
The Engima is being sold without reserve, meaning there is no minimum bid required to win the stone, though the auction house said it believes the diamond could achieve £3 million-£5 million ($4.1 million-$6.8 million).
Both GIA and Gübelin issued reports for The Engima, identifying it as a natural fancy black diamond.
GIA’s library said natural fancy black diamonds have a Mohs hardness of 10, like other diamonds.
They owe their color to numerous minute dark crystals or clouds of graphite, magnetite, hematite, or native iron, it added, and because they have so many inclusions, black diamonds are difficult to polish.
Another view of “The Enigma”
The Enigma is a free-form faceted stone, both labs stated in their reports. Its shape is inspired by the hamsa, a palm-shaped symbol that is a sign of protection.
The hamsa is associated with the number five, reflected in the diamond’s 555.55 carats as well as its 55 facets.
In 2004, when it issued the grading report, GIA said The Enigma was “the largest fancy black, natural color and largest diamond” it had graded to date, and Gübelin said it was the largest faceted diamond it had examined to date.
The stone was also listed as the largest cut diamond in the world in the 2006 Guinness Book of World Records.
The diamond has never been seen on the market nor has it been exhibited to the public, but now “The Enigma” will take center stage as part of a dedicated online-only auction at Sotheby’s.
Sotheby’s unveiled the diamond Monday. It will be on view at the Dubai International Financial Centre from Jan. 17-20, after which it will travel to Los Angeles from Jan. 24-26 and then London from Feb. 2-9.
The one-lot auction will be open for online bidding from Feb. 3-9.
Sotheby’s will again accept cryptocurrency as payment, following the sale of the “10138 The Key” for a record $12.3 million via cryptocurrency last year in Hong Kong.
More on Auctions
The Latest
CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in ChicagoChicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.
SourcingFeb 27, 2026
South African Diamond Mine Closes Amid Search for Missing WorkersOwners of the Ekapa Mine reportedly filed for liquidation about a week after a mudslide trapped five workers who have yet to be found.
MajorsFeb 27, 2026
Jewelers Mutual to Donate $10M to Savannah College of Art and DesignA 10-year alliance has also begun to address the shortage of bench jewelers through scholarships, enhanced programs, and updated equipment.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsFeb 27, 2026
Renato Cipullo Turns Gold into HardstonesThe “Splendente” collection has evolved to feature hardstone letter pendants, including our Piece of the Week, the onyx “R.”
Weekly QuizFeb 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingFeb 26, 2026
Anglo American CEO Gives Insight Into De Beers SaleThe update came as Anglo took its third write-down on the diamond miner and marketer, which lost more than $500 million in 2025.
ColumnistsFeb 26, 2026
Practical Ways Jewelers Can Leverage AI in 2026Emmanuel Raheb discusses the rise of “GEO” and the importance of having well-written, quality content on your website.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
CrimeFeb 26, 2026
Three Sentenced in California Jewelry HeistEach received around four years for burglarizing a jewelry store and a coffee shop in Simi Valley, California, last May.
Events & AwardsFeb 26, 2026
GIA Names 2026 Jewelry Design Contest Winner, Retires Annual AwardCatherine Aulick, a GIA graduate, received the ninth and final Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.
TrendsFeb 25, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
SourcingFeb 25, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
EditorsFeb 25, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
PodcastsFeb 25, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
WatchesFeb 25, 2026
Private Equity Firms Write Down Value of Breitling, Report SaysThe Swiss watchmaker is battling declining sales amid a rapid retail expansion, according to a Financial Times report.
CollectionsFeb 25, 2026
Rahaminov Diamonds’ New Campaign Honors Its MatriarchThe campaign celebrates Giustina Pavanello Rahaminov, the co-founder’s wife and matriarch of the family-owned brand, for her 88th birthday.
IndependentsFeb 25, 2026
Borsheims Names 2025 ‘Ike-It’ Award WinnerRachel Bennett, a senior jeweler who has been with Borsheims since 2004, earned the award.
Policies & IssuesFeb 24, 2026
IEEPA Tariffs Terminated, New 10% Tariff Already ImposedAfter the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
