118-Carat White Diamond To Be Auctioned In New York

118 carat diamondA 118-carat diamond from Africa will be showcased at an auction house in New York City. They call it “the world’s greatest white diamond on the block”.

For what it’s worth

The oval diamond was placed in a glass case last Wednesday at Sotheby’s Manhattan headquarters.On Oct. 7, it will be auctioned off in Hong Kong. The diamond is the size of a small egg andis estimated to be worth around $28 million to $35 million.

The international diamond expert and deputy chairman of Sotheby’s Asia, Quek Chin Yeow, said “this is the greatest white diamond we’ve ever had the privilege to sell,” when asked about the diamond’s size, polish, color, and quality.

Currently, the world record for any white diamond sold is $26.7 million. It was sold last spring at Christie’s in Geneva. It was a 101-carat pear-shaped diamond.

Shine bright like a diamond

The white 118-carat gem is part of a group of precious stones up for bids. The line-up also includes a 7.6 carat blue diamond, worth approximately $19 million.

Blue diamonds are rarer than white ones. The famous Hope Diamond displayed in the Smithsonian Institution in Washington, is from the same color family.