*NEWSFLASH* *NEWSFLASH*
Sotheby’s Hong Kong:
Spectacular 88.22-Carat Oval
Diamond
Sells for HK$108 Million /
US$13.8 Million / £10.6 Million
To a Japanese Private
Collector who names the stone,
the ‘Manami Star’ after his
eldest daughter
*Perfect
according to Every Critical Criterion: Colour, Clarity, Cut and Carat*
One of only three
Oval Diamonds over 50 Carats to appear at Auction in Living Memory
The 88.22-carat, D Colour,
Flawless, Type IIa, Oval Brilliant Diamond
Moments ago at Sotheby’s in Hong Kong, a
spectacular 88.22-carat, D Colour, Flawless, Type IIa, oval brilliant diamond,
perfect according
to every critical criterion, sold
for HK$108 million / US$13.8 million / £10.6 million.
One
of only three oval diamonds of over 50 carats to
appear at auction in living memory, and the largest to be auctioned in over
five years, it was acquired by a Japanese private collector who
first saw the stone while on exhibit in Japan.
Immediately after the sale, he
named the precious stone, the ‘Manami Star’, after his eldest daughter. Pursued
by three bidders, the diamond eclipsed its estimate of HK$88-100 million
(US$11.2-12.7 million) and established a price per carat of HK$1,224,133
(US$156,150).
Patti Wong, Sotheby’s Chairman in Asia, said: “We were thrilled to
handle a diamond of such rarity, which now takes its place in the roster of top
white diamonds to have come to the market here at Sotheby’s Asia.
"Three clients
from the region competed for the stone – testament to the strong demand for
diamonds of this quality in this part of the world. At 88.22 carats, this lucky
stone now carries the name of the fortunate child whose father has chosen to
give it her name. A happy moment in the journey of one of the earth’s greatest,
oldest treasures.”
Perfect according to every critical criterion, the diamond has
achieved the highest rankings under each of the standards by which the quality
of a stone is judged (‘the four Cs’).
The diamond is D colour (the
highest grade for a white diamond); of exceptional clarity (it is completely flawless,
both internally and externally), and has excellent polish and symmetry.
As with
the Koh-i-noor diamond (also oval) and the Cullinan I, which are part of the
British Crown Jewels, the stone belongs to the rare subgroup comprising less
than 2% of all gem diamonds, known as Type IIa. Diamonds in this group
are the most chemically pure type of diamond and often have exceptional optical
transparency.
Finding a rough diamond that allows the cutter
to fashion a stone of over 80 carats is a true and very rare discovery. The
242-carat rough stone which yielded the diamond was discovered in Botswana in
the mine of Jwaneng, a mine owned in partnership by De Beers and the government
of Botswana and known for producing roughs of the highest quality.
Following
its discovery, the rough was cut and polished over a period of intense months
to produce a symmetrical and striking oval brilliant diamond. Given the
elongated shape of the rough the oval shape was chosen to preserve the greatest
amount of weight.
Great skill and precision was needed to cut a stone of this
importance – a level of expertise and craftsmanship possessed by only a small
handful of cutters in the world.
A symbol of perfection and eternity, often
associated with prosperity, the number eight is considered a lucky number in
China and other Asian cultures. The Chinese pronunciation of 8 (bā),
similar to that of 發 (fā) meaning
wealth or fortune, is welcomed as a blessing of affluence.
In its duality - 88
– it is believed to bring good wishes in abundance. There is also a visual
resemblance between 88 and 囍 (literally: "double joy"), a popular decorative design
composed of two stylized characters 喜
("joy").
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