Editor’s Note
This article reports on the record-breaking auction of a unique 1,086-carat diamond in Dubai. Its remarkable size, fused-crystal structure, and distinctive color make it a notable geological and commercial specimen.
A 1,086-carat diamond, the largest of its kind auctioned in Dubai, has been sold for an undisclosed amount.
The enormous yellow-orange stone is unusual not only in terms of its appearance but also its composition. It is not a single crystal, but several fused together, giving it its distinctive color.
The online auction earlier this week generated great interest among potential buyers.
The company that conducted the bidding, Koin International, did not disclose the price obtained. But it could be considerable, as “fancy” diamonds, as they are known, are usually very valuable.
It is not known what color the diamond will be after polishing, but colored gems are possible and rare.
Diamonds are normally graded based on the absence of color, because colorless diamonds are the rarest, according to the Gemological Institute of America. Even the slightest hint of color can affect the value of a normal diamond.
But fancy diamonds, which are outside the normal color range and are created through changes in their chemical structure as they form, can fetch large sums of money.
They represent only 0.1 percent of all diamonds, with colors ranging from pink to purple, red, blue, yellow, brown, and all colors in between, according to the Gem Society.
Red diamonds are the rarest, with only 20 to 30 in existence. They cost on average more than one million dollars per carat. The largest sold was 5.11 carats and was purchased for eight million dollars, which is 1.6 million per carat.
Yellow is the most common color for fancy diamonds and accounts for more than half of the market. The most expensive diamond of that color ever sold was the Graff Vivid Yellow. It weighed 100.90 carats and sold for 16.3 million dollars in 2020.
The world’s largest elegant natural black diamond was displayed at Sotheby’s in the Dubai International Financial Centre earlier this month.
Recognized as one of the world’s rarest gems, The Pink Star diamond made history when it was auctioned by Sotheby’s in Hong Kong in 2017, becoming the most expensive jewel sold at auction.