Sotheby’s is offering what it calls “the greatest white diamond ever to appear at auction”—a 118.28 oval D-Flawless—at its Hong Kong Magnificent Jewels and Jadeite auction on Oct. 7.
The remarkable diamond is the size of an egg, says Chin Yeow Quek, the chairman of Sotheby’s jewelry division in Asia. It is expected to sell for between $28 million to $35 million, which would be the highest price for a white diamond, topping the the 101.73 D-Flawless Winston Legacy's $26.7 million record set in May at Christie's.
The oval stone originated from a 299 ct. rough, which was found in Southern Africa in 2011. The winner will get “naming rights” to the stone; most of the stones of this size have been named.
This white diamond will be auctioned alongside the Premier Blue, the 7.5 ct. fancy vivid blue stone that is expected to set a per-carat record for a diamond at the sale.
“We have made a concerted effort to make this a wonderful sale to celebrate Sotheby’s 40 years in Asia,” Quek says.
Given the two large items, he says he hopes the October sale will set a record for the largest jewelry auction ever.