The high estimate of $18 million for the 103.49 carat stone was shattered.
According to IDEX Online, the perfect 103.49-carat diamond known as “The Light of Africa” sold for $20,084,000 at Christie’s New York Magnificent Jewels sale on June 8, above its high estimate of $18 million.
The Type IIa, D-color, flawless, emerald-cut raw diamond weighed 299.3 carats when it was discovered at Petra Diamonds’ Cullinan Mine in South Africa.
“The 103.49 carat Light of Africa D Flawless diamond reached an astonishing $195,000 per carat illustrating the strength of the diamond market at the highest levels,” said Rahul Kadakia, international head of jewelry at Christie’s.
The Magnificent Jewels auction brought in a total of $48,872,000, with 95% of the lots selling by lot and 98% selling by value.
By Deo Vuadi – email@example.com