World's largest white diamond sold for $18.8M, far short of record

By Peter Kenny

GENEVA (AA) – “The Rock,”​​​​​​​ the largest white diamond ever auctioned, sold for 18.6 million Swiss francs ($18.8 million) on Wednesday evening, far below the record and the price sought for the massive gem.

Auction house Christie’s hoped to get a price of between 19 million and 30 million Swiss francs for the 228.31-carat, perfectly pear-shaped diamond.

Bidding at Geneva’s Hotel des Bergues began at 14 million francs and lasted for two minutes before it was sold to a telephone bidder.

The final price for the stone bigger than a golf ball, including taxes and added premiums, was 21,681,000 Swiss francs.

“This exceptionally rare gemstone was mined and polished in South Africa over two decades ago and is the largest white diamond ever to appear for sale at auction,” said Christie’s.

The auction record for the biggest white diamond is held by a 163.41-carat gem, which sold in Geneva in November 2017 for $33,701,000.

The Rock had been shown in Dubai, Taipei and New York ahead of the sale in Geneva.

Other luxury items such as rare jewels and watches sold at the auction exceeded their expected prices.

Christie’s said another stone sold for the third time since 1901 was an intense yellow, cushion-shaped diamond weighing 205.07 carats – the Red Cross Diamond.

It realized a price of 14,181,250 Swiss francs, with part of the revenue from the sale going to the International Committee of the Red Cross.