The First Art Newspaper on the Net Established in 1996 United States Sunday, September 21, 2014


Sotheby's Hong Kong sets world auction record for any white diamond in Magnificent Jewels & Jadeite Sale
A Sotheby's phone auctioneer (R) gestures during an auction that saw a 118.28-carat white diamond break a world record when it fetched more than 30 million USD in Hong Kong on October 7, 2013. The egg-shaped stone, dubbed the "Magnificent Oval Diamond", was discovered in a deep mine in an undisclosed southern African country in 2011. AFP PHOTO / ANTHONY WALLACE.
HONG KONG (AFP).- A 118.28-carat white diamond broke a world record Monday when it fetched more than $30 million at a Hong Kong auction.

The sparkling translucent stone was sold to an unnamed phone bidder at the Sotheby's auction for HK$238.68 million ($30.6 million) following bidding that lasted for more than six minutes, leaving auctioneers thrilled.

"We are extremely thrilled," Quek Chin Yeow, deputy chairman of Sotheby's Asia, told reporters following the sale, describing the buyer only as a "private collector".

He said the sale signalled a "moving trend" for the southern Chinese city to host major global auctions.

Hong Kong has become a centre for jewellery auctions thanks to growing wealth in China and other parts of the region.

"The sale alone proves that we can actually sell major diamonds here in Hong Kong. It's a moving trend," he said.

"The downturn everybody thinks is happening in Asia, or the slowdown... a lot of the collectors are still extremely wealthy individuals," he said.

The egg-shaped stone sold Monday has been described as the finest of its kind ever to appear at auction. Earlier estimates valued it at $28-$35 million.

The stone, dubbed the "Magnificent Oval Diamond", was discovered in a deep mine in an undisclosed southern African country in 2011.

As a rough stone before being cut, it weighed 299 carats.

The stone, described by Sotheby's as "the largest D colour flawless diamond" sold at auction, has been given the highest quality rating awarded by the Gemological Institute of America.

"D colour" diamonds are rare and colourless and fetch premium prices.

The sale beat the record set at a diamond auction last year, when a 101.73-carat diamond was sold for $26.7 million.

Another rare gem, a 7.59-carat blue diamond, was not sold, however, because bids fell short of auctioneer's expectations.

Earlier, the stone was estimated to fetch up to $19 million.



© 1994-2013 Agence France-Presse



Today's News

October 8, 2013

Frida Kahlo / Diego Rivera: Art in Fusion opens at Musée de l'Orangerie in Paris

Pissarro and van Gogh among highlights at Bonhams Impressionist & Modern Art auction

Three Metropolitan Museum exhibitions generated $742 million economic impact for New York

Sotheby's Hong Kong sets world auction record for any white diamond in Magnificent Jewels & Jadeite Sale

Sotheby's appoints Haunch of Venison's Fru Tholstrup Director of new S/2 Gallery in London

"The Future of America: Lewis Hine's New Deal Photographs" on view at the International Center of Photography

Cornell Fine Arts Museum at Rollins College announces curator appointment

First major solo exhibition of work by artist Abdulnasser Gharem opens in London

Frick Art & Historical Center announces retirement of Director Bill Bodine

Rare 'Visage Noir' service highlights Christie's first online-only Picasso Ceramics sale

Exhibitions showcase Modern masters, Contemporary Photography and new media film

Sales of 'less elitist' contemporary art soar according to research published by Artprice

Contemporary art in editions fair, Multiplied, returns to Christie's South Kensington this October

Sotheby's appoints Julian King as International Specialist and Carrie Li as Senior Specialist

British achievers are celebrated in new display of previously un-exhibited photographs

Eugenio Re Rebaudengo launches new online gallery with exhibition of Luigi Ghirri prints

2013 Carnegie International opens in Pittsburgh

Gavin Gardiner Ltd announces Auction of Modern & Vintage Sporting Guns & Rifles

"Women Call for Peace: Global Vistas" opens at John Jay College of Criminal Justice

Valencian Institute for Modern Art opens "Pedro Valdez Cardoso. Discourse of the method"

Most Popular Last Seven Days



1.- Fever mounts as stunning statues found at Alexander The Great-era tomb

2.- Hi-tech underground scans reveal vast complex of monuments at Britain's Stonehenge

3.- National Geographic Museum opens exhibition featuring shark-munching Spinosaurus

4.- First major New York City exhibition to explore Vienna Actionism opens at Hauser & Wirth

5.- Elizabeth I 'airbrushed' for 18th century make-over and a bug is found in Edward VI

6.- Award winning Swedish director Daniel Fridell to direct Kalliope Films' Vincent Van Gogh biopic

7.- Comprehensive retrospective exhibition of Joan Miró's work opens at the Albertina

8.- Synchrotron radiation technology in art conservation: Science to the rescue of art

9.- Mona Kuhn's first solo exhibition in the US opens at Edwynn Houk Gallery

10.- Sotheby's announces details of its sales series for Property from the Collection of Mrs. Paul Mellon



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher: Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez - Marketing: Carla Gutiérrez
Special Contributor: Liz Gangemi - Special Advisor: Carlos Amador
Contributing Editor: Carolina Farias

Royalville Communications, Inc
produces:

ignaciovillarreal.org theavemaria.org juncodelavega.org facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site