The Dayton-based jeweler, which has been in business since 1985, was formerly known as Stafford Jewelers.
Sotheby’s Is Selling This Perfect 102-Carat Diamond with No Reserve
Online bidding for the D flawless stone starts Sept. 15, with the live in-person auction set for early October in Hong Kong.

Hong Kong—This fall, a 102.39-carat D flawless diamond will go up for sale at Sotheby’s Hong Kong, with what the auction house describes as an “unprecedented twist” for these unusual times.
The oval-shaped stone has no reserve price and is being offered by the auction house without a pre-sale estimate, Quig Bruning, head of Sotheby’s jewelry department in New York, explained in a phone interview Wednesday.
A reserve price is the confidential minimum selling price agreed upon between the auction house and the consigner.
Bruning said sometimes, items are offered at auction without reserve—Bonhams, for example, is selling a collection of intaglios and cameos without reserve at a sale later this month—but there’s usually still an estimate given.
This stone will go up on the auction block without either, meaning the highest bid will be the winning bid.
“This is absolutely going to be a gauge of the market,” he said. “We are truly looking at, what will the market bear?”
Despite the toll COVID-19 has taken on the global economy and the havoc it’s wreaked on live events, Bruning said Sotheby’s has had success selling jewelry online and at the live auctions it has held this year.
He pointed to the fancy colored hearts sold in Hong Kong this summer as examples.
He said the auction house has confidence in the value of large, exceptional diamonds, and views it as an “ideal time” to offer this stone via a hybrid online-offline sale and “set the market.”
The 102.39-carat D flawless diamond has excellent polish and symmetry; Bruning called it “an extraordinary stone” that is “a beautiful example of a diamond.”
“It just transfixes anyone who looks at it,” he said. “There’s something above and beyond that this stone possesses. There’s a life and a character to it that you don’t normally see.”
Though Sotheby’s is not revealing the name of the company that consigned the diamond for sale, it did say Diacore cut and polished the stone over the course of a year from a rough diamond weighing 271 carats (pictured above) discovered at De Beers’ now-closed Victor Mine in Canada in 2018.
The auction house said it is one of only eight diamonds of “regular shape” (meaning modern cuts, not old mine, old European, etc.) that are over 100 carats and D color and flawless or internally flawless ever to be offered at auction.
Sold for between $11
The 102.39-carat stone is also the second-largest oval-shaped diamond of its kind to appear at auction, surpassed only by the 118.28-carat oval Sotheby’s sold for $30.8 million, or $260,252 per carat, in Hong Kong in 2013.

Sotheby’s will sell the diamond in a live single-lot auction in Hong Kong on Oct. 5.
Bruning said the auction house does plan to have bidders present at the auction—in addition to taking absentee, online and phone bids—though it will ultimately depend on the situation on the ground in Hong Kong at that time.
By-appointment-only previews are taking place in Beijing, Shanghai, New York and Taipei before the stone returns to Hong Kong for the sale.
Online bidding opens next Tuesday, Sept. 15.
The Latest

Reeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.

The piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.

Supplier Spotlight Sponsored by GIA

The Indian jewelry brand recently opened stores in Atlanta and Seattle.


CEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.

The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Chris Anderson is joining the insurance provider as the new chief financial officer and treasurer.

Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.

The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.

Bhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.

The New York City-based brand has opened its first U.K. location with a permanent shop-in-shop at Liberty in London.

Organizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.

Kenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.

The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.

Ahead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.

Founded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.

Those attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.

The organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.

Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.

Scottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.

Ahead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.

The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.

The annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.