Christie's to Sell Famed 32-carat Diamond

By JCK Online Staff -- JCK Online, 7/23/2009 8:48:00 AM

Christie’s fall auction will have a notable diamond on the selling block with the 32-carat emerald-cut Annenberg diamond up for sale. The esteemed auction house hopes the diamond will fetch $5 million, according to a Reuters report.

The 32-carat emerald-cut Annenberg diamond.

Even in today’s economic climate, experts are optimistic the Annenberg diamond will realize $5 million or perhaps slightly more based on the 35.6-carat Wittelsbach blue diamond’s selling price of $24.3 million in December.

The flawless ring-mounted diamond, owned by philanthropist Lee Annenberg (widow of publishing mogul Walter Annenberg) will top Christie’s Magnificent Jewels sale on October 21.

“Gems of this size are extremely rare, and their presence on the market is always an important event in the world of diamonds,” said Rahul Kadakia, Christie’s head of jewelry in the Reuters report. “This gem’s impeccable color, clarity, and polish as well as its prestigious provenance will attract jewelry collectors from all over the world.”

The gem will go on tour before the sale with stops in Geneva, London, Hong Kong, Los Angeles and New York.