A 10.10 carat vivid blue diamond is expected to set the record for the most
expensive piece of jewellery sold at auction in Asia despite an ongoing
growth slowdown in China’s economy,
Sotheby’s said Friday.
The “De Beers Millennium Jewel 4” is expected to fetch between 30 million
US dollars
and 35 million US dollars at the April 5 sale in Hong Kong, and is
described by the
auction house as the largest oval blue diamond ever to appear at auction and
“internally flawless”.
The diamond, which is slightly larger than an almond in size, came from
South Africa’s Cullinan Mine and was one of 12 displayed at London’s
Millennium Dome to mark the year 2000.
“There are no more than a dozen or so blue diamonds of fancy vivid colour
and over 10 carats in the world, so they are very, very rare,” Sotheby’s
Deputy Chairman for Asia Quek Chin Yeow told AFP.
The sale will come five months after the 12.03-carat “Blue Moon of
Josephine” was bought for a record 48 million US dollars in Geneva by an
Asian property
tycoon — a further sign the jewellery auction market remains strong despite
slowing Chinese growth.
The world’s second-largest economy expanded 6.9 percent in 2015, the worst
performance in a quarter of a century and a far cry from years of
double-digit
increases.
“Of course people are concerned about the China slowdown” Quek said, but
added that sales of rare items seem to be largely unaffected by growth
numbers.
“It’s the rarity and the collectability of these wonderful objects.
When they come to the market, they will have strong interest from all over
the
world,” Quek said, adding that the location of the upcoming sale was a sign
of
confidence in the Asian market.
The previous record for a diamond sold in Hong Kong was set in 2013, with
the sale of a 118-carat white diamond for 30.6 million US dollars.
(AFP)