Auctions

‘The Rock,’ the Biggest White Diamond Ever Put Up for Auction, Sells for $22M

AuctionsMay 12, 2022

‘The Rock,’ the Biggest White Diamond Ever Put Up for Auction, Sells for $22M

The 228-carat stone came in at the low end of its estimated range while “The Red Cross Diamond” exceeded expectations at $14.3 million.

“The Rock,” a 228.31-carat near colorless diamond, sold for within its pre-sale estimate when it garnered $21.9 million at Christie’s Geneva this week. (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
Geneva—The largest white diamond to ever appear at auction is also now one of the most expensive.
 
On Wednesday, “The Rock,” a 228.31-carat, G-color, VS1 clarity, pear-shaped diamond, sold for $21.9 million at Christie’s Geneva Wednesday, coming in at the low end of its $20-$30 million pre-sale estimated range.

It sold for $96,000 per carat. It is the fifth most expensive white or colorless diamond in auction history.
 
It falls behind the 163.41-carat, D-color, flawless “The Art of De Grisogono, Creation I” diamond, which fetched $33.7 million at Christie’s Geneva in 2017; the 112.28-carat, D-color, flawless oval-shaped diamond that sold for $30.8 million at Sotheby’s Hong Kong in 2013; the 101.73-carat, D-color, flawless pear-shaped “Winston Legacy,” which sold for $26.7 million at Christie’s Geneva in 2013; and the 100-carat, D-color, flawless emerald-cut diamond sold at Sotheby’s New York in 2015 for $22.1 million. 

 Related stories will be right here … 

Also appearing at Wednesday’s sale was “The Red Cross Diamond,” a fancy intense yellow cushion-cut diamond with VS2 clarity weighing 205.07 carats, which ultimately sold for $14.3 million, or $70,000 per carat, topping its pre-sale estimate by about $4 million.
 
The stone with a fascinating history was estimated to sell for between $7.5 million and $10.7 million.

Christie’s said the Red Cross Diamond, which it has put on the auction block three times in a century, set a world auction record for a fancy intense yellow diamond. 
 
A “significant” portion of its sale will benefit the Red Cross, though the auction house would not disclose the exact amount. 
 
“For nearly half a century, our family has had the privilege of safeguarding the Red Cross Diamond. Since it was first brought to market in 1918, the legacy of this symbol of humanity has always been the support of communities ravaged by war, famine and other hardships endured by people across the world,” the stone’s anonymous consigner said in a statement shared via Christie’s. 
 
The Red Cross Diamond (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
The Red Cross Diamond (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)

“At this moment in history, we honor the call others have made before us. A significant share of the proceeds will be donated to the great institution whose name it bears as we acknowledge the tireless efforts of the volunteers of the International Committee of the Red Cross.”
 
International Head of Christie’s Jewelry Rahul Kadakia added: “It was a privilege to present this legendary stone, which was first sold at Christie’s in 1918 as part of the Red Cross Appeal. 
 
“Over a century since that first sale, the diamond sold after 11 minutes of competitive bidding for ($14.3 million), a world auction record for a fancy intense yellow diamond. We are delighted that a significant share of the proceeds will benefit the humanitarian efforts of the International Committee of the Red Cross.”
 
The Furstenburg Tiara (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
The Furstenburg Tiara (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)

Other high-performing jewels at Christie’s Geneva included the “Furstenberg Tiara,” a 19th century natural pearl and diamond tiara that demolished its $400,000 to $600,000 pre-sale estimate when it sold for a whopping $2.4 million.

25.2-carat, D-color, potentially IF rectangular-cut diamond ring by Harry Winston (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
25.2-carat, D-color, potentially IF rectangular-cut diamond ring by Harry Winston (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
 
A 25.2-carat, D-color, potentially IF rectangular-cut diamond ring by Harry Winston sold for $2.4 million, or $94,000 per carat, just over its $1.8-$2.2 million estimate.

Cartier's Art Deco bracelet (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
Cartier's Art Deco bracelet (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
 
An Art Deco diamond bracelet from Cartier was the next highest-earning jewel, selling for $2.2 million, within its pre-sale estimate, followed by a 40.41-carat Colombian emerald and diamond necklace attributed to Harry Winston that also fell within its estimated range when it sold for $2.2 million.

40.41-carat Colombian emerald and diamond necklace by Harry Winston (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
40.41-carat Colombian emerald and diamond necklace by Harry Winston (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
 
Rounding out the sale was a 17.8-carat Colombian emerald and diamond ring by Chaumet estimated to earn $450,000-$650,000 but ultimately garnered $1.9 million, or $103,000 per carat.

17.8-carat Colombian emerald and diamond ring by Chaumet (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
17.8-carat Colombian emerald and diamond ring by Chaumet (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
 
A 16.93-carat, VS2 clarity, fancy light purplish-pink cut-cornered rectangular diamond ring fell within its $1.6-$2.2 million estimate, selling for $1.8 million, or $103,000 per carat.

16.93-carat, VS2 clarity, fancy light purplish-pink cut-cornered rectangular diamond (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
16.93-carat, VS2 clarity, fancy light purplish-pink cut-cornered rectangular diamond (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
 
Next, a sapphire and diamond necklace by Reza expected to fetch $250,000-$350,000 sold for $1.5 million.

Sapphire and diamond necklace by Reza (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
Sapphire and diamond necklace by Reza (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
 
The final of the auction’s top 10 lots was a 7.14-carat ruby and diamond ring that sold within its pre-sale estimate for $1.2 million, or $160,000 per carat.

7.14-carat ruby and diamond ring (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
7.14-carat ruby and diamond ring (Image courtesy of CHRISTIE'S IMAGES LTD. 2022)
 
In all, Christie’s Geneva’s jewelry auction sold 92 percent by lot and 98 percent by value. Full results are available online.

The Latest

Recorded WebinarsMay 27, 2022
Watch: The 5 Things I Always Take to a Trade Show

Editor-in-Chief Michelle Graff is joined by three industry veterans to talk about the items they never leave behind and why.

CollectionsMay 27, 2022
92Y Has Selected its 2022 Artist in Residence

German jewelry artist Alexander Blank is the fourth designer to receive the honor.

CollectionsMay 27, 2022
Piece of the Week: Which Movie Inspired This Chopard Masterpiece?

The answer is “Hair,” and the necklace is from Chopard’s 2022 Red Carpet Collection, rolled out at the Cannes Film Festival.

Brought to you by
3 Reasons to Offer Estate Buying at Your Store

Provide your customers with a seamless selling solution by partnering with Windsor Jewelers, Inc.

Supplier BulletinMay 26, 2022
Extraordinary Italian Jewelry at JCK and COUTURE

Sponsored by Italian Trade Agency

Weekly QuizMay 26, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
SourcingMay 26, 2022
Q&A: Deciphering De Beers’ Blockchain Platform

David Prager virtually sat down with Editor-in-Chief Michelle Graff to answer questions about the rollout of Tracr at scale.

FinancialsMay 26, 2022
Movado Posts Record Q1 Sales Despite ‘Challenging’ US Market

The company opted not to raise its fiscal guidance, citing a slowdown in the U.S. market as a key reason.

Brought to you by
Dive into GIA’s Pearl Expertise

When it comes to knowing the identity and quality of your pearls, count on GIA as your independent pearl experts.

TechnologyMay 26, 2022
State of Retail: The Pros and Cons of 4 Jewelry-Selling Platforms

From “old-school” eBay to new kid on the block 1stDibs, we asked jewelers about their experiences selling jewelry in non-traditional places.

Policies & IssuesMay 26, 2022
Barbara Wheat Named Executive Director of Ethical Metalsmiths

She has nearly 30 years’ experience in the gem and jewelry industry and a background in nonprofit management.

EditorsMay 25, 2022
7 Standout Tiaras in Sotheby’s Platinum Jubilee Exhibition

Senior Editor Brecken Branstrator chooses the pieces she’d most want to see in person.

MajorsMay 25, 2022
Anne Hathaway Is Bulgari’s Newest Ambassador

The actress joins Zendaya and others in a new advertising campaign.

IndependentsMay 25, 2022
The Mexican Shack to Close After 47 Years

Owner Steve Delzio shares his thoughts on retirement after nearly five decades in the jewelry industry.

IndependentsMay 25, 2022
Designer Theo Fennell Has Written a Memoir

“I Fear for This Boy” takes readers through the ups and downs of his business and is available for pre-order now.

IndependentsMay 25, 2022
MVEye, Wedding Report Partner on New Jewelry Research Platform

“Today’s Wedding Jewelry Consumer” shares data about engagement ring market size, lab-grown and natural diamonds, and more.

ColumnistsMay 24, 2022
The PR Adviser: 10 Questions to Contemplate

Columnist Lilian Raji wants to walk you through the customer journey. But first, she’d like you to answer a few questions.

Events & AwardsMay 24, 2022
8 Gold Jewelry Designers Unveil New Platinum Designs

Several Couture brands have partnered with Platinum Guild International ahead of the jewelry trade show.

Lab-GrownMay 24, 2022
Kendra Scott Unveils Lab-Grown Engagement Ring Collection

The jewelry company is moving into bridal just a month after branching out into the watch world.

SourcingMay 24, 2022
State of the Diamond Industry: Where Does Supply Go From Here?

The 2008 economic crisis, COVID-19, and sanctions on Russian goods have set the stage for an interesting decade for natural diamond supply.

Events & AwardsMay 24, 2022
WJA to Host Diversity Keynote at New Las Vegas Breakfast Event

The Generating Community Impact fundraiser on June 11 will feature Karine Bah Tahé of Blue Level Training.

WatchesMay 23, 2022
Steven Kaiser, Watch Industry Veteran and Beloved Mentor, Dies at 68

Kaiser, whose illustrious career spanned decades, died suddenly on Friday.

IndependentsMay 23, 2022
Long’s Jewelers to Open New Location

The family-owned jeweler is relocating its Braintree, Massachusetts, store to a new space.

IndependentsMay 23, 2022
Luxury Goods Veteran Olivier Stip Joins Chicago Jeweler CD Peacock

He will step into the retailer’s newly created role of chief development officer.

GradingMay 23, 2022
Gem-A Launches Digital Entry-Level Gemology Course

GemIntro is meant to give a broad introduction to gems and gemology.

Recorded WebinarsMay 20, 2022
Watch: Responsible Sourcing and the Gold Supply Chain

Three industry experts discuss “recycled” gold vs. mined, their challenges and benefits, and how jewelers can navigate the area.

FinancialsMay 20, 2022
Richemont’s 2022 Jewelry Sales in the Americas Nearly Double

Cartier, Van Cleef & Arpels, and Buccellati put on stellar performances.

SurveysMay 19, 2022
5 Predictions for Jewelry Retail in the Second Half of 2022

From a slowdown in sales growth to rising costs, Fruchtman Marketing outlines its expectations for the second half of the year.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy