Auctions

555-Carat ‘Enigma’ Black Diamond Sells for $4.3M Via Cryptocurrency

AuctionsFeb 10, 2022

555-Carat ‘Enigma’ Black Diamond Sells for $4.3M Via Cryptocurrency

The founder of a cryptocurrency company purchased the stone and will rename it the “Hex.com” diamond.

The founder of a cryptocurrency company called Hex bought this 555-carat black diamond for $4.3 million at auction using cryptocurrency, of course.
Dubai—The 555-carat black diamond initially dubbed “The Enigma” just sold for $4.3 million at auction.

Richard Heart, founder of cryptocurrency company Hex, tweeted Wednesday that he’s the one who purchased the diamond. He said he will rename the stone the “Hex.com” diamond.

Unsurprisingly, he used cryptocurrency to buy it, the auction house confirmed in a tweet of its own

Sotheby’s offered the diamond in a one-lot sale that ran from Feb. 3-9, selling it without reserve, meaning there was no minimum bid required. 

The final hammer price fell at the low end of the auction house’s pre-sale estimated range of £3 million-£5 million ($4.1 million-$6.8 million).

 
The largest faceted diamond of any kind to appear at auction, reports from both the Gemological Institute of America and Gübelin identify the stone as a free-form faceted natural fancy black diamond.

The hamsa, the palm-shaped symbol that is a sign of protection, inspired its shape. The hamsa is associated with the number five, aligning with the diamond’s 555.55 carats as well as its 55 facets.

In 2004, GIA issued a grading report for The Enigma, stating it was “the largest fancy black, natural color and largest diamond” it had graded to date.

The 2006 Guinness Book of World Records also listed it as the largest cut diamond in the world.

Prior to the Sotheby’s sale, the diamond had neither been seen on the market nor exhibited to the public.

The sale of the black diamond via cryptocurrency follows that of the “10138 The Key” flawless diamond in Hong Kong last year.

The buyer paid $12.3 million for the stone using the digital payment system.

 Related stories will be right here …
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

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