Yellow Diamond Fetches Record Price at Diamond Auction

It’s yellow, pear-shaped, originates from South Africa, weighs 110.3 carats and was just bought at auction for a cool US$10.2 million.

It’s called the Sun-Drop Diamond and was the headline act at the recent Sotheby’s diamond and gem auction in Switzerland.  The successful bidder, who participated by phone, ended up paying over US$12 million for the diamond including commission.  That’s a new record price for a yellow diamond at auction.

The diamond, discovered last year in South Africa, was rated by gemologists as a fancy, vivid yellow – the highest grade possible on the diamond colour scale.  Yellow diamonds are created when nitrogen impurities trapped within carbon molecules harden over millions of years.

It was a busy day at the Beau-Rivage Hotel in Geneva as Sothebys auctioned off US$70 million worth of diamonds and gems.  Other sales included a white cushion-shaped diamond weighing over 38 carats that went for close to US$7 million, a blue-diamond ring that sold for over US$4 million and a 12 carat emerald hailing from Colombia that was an absolute steal at US$1.4 million.

What’s staggering is that the Sun Drop diamond didn’t come near the record for the most expensive diamond ever sold at auction.  That prize goes to a 24.78-carat fancy intense pink diamond sold last year (also by Sothebys) for a US$46 million.

A lot of New Zealanders don’t realise the real value of their diamond rings.  You could be sitting on a potential windfall from a diamond ring you have at home that’s out of fashion or a diamond ring from a former relationship.

You may not have something like the Sun Drop diamond at home but EzyCash Gold Buyers in Auckland can and will give you a good wholesale price for your diamond ring as well as the gold that your jewellery may contain.  We’re based in Panmure, Auckland so visit us for an in-store valuation today or call us on 09 570 1511.

And remember that we are always looking to buy gold, silver and luxury watches as well and can provide you with instant cash loans.