Headlining Sotheby’s upcoming “Spring Magnificent Jewels and Nobel Jewels” auction is a 100.09 carat yellow diamond called the Graff Vivid Yellow.
Industry experts believe the yellow diamond could sell for as much as $25 million at the May 13th auction. The stone’s colouring is considered to be similar to that of a daffodil and is among the largest vivid yellow diamonds in the world.
The diamond, which weighed in at 190 carats in the rough, was originally named the “Dream Diamond”. Graff bought that stone in 2005 in Kimberley, South Africa and had it cut and polished and then changed to its current name.
The last yellow diamond of this magnitude to go up for auction was the Sun Drop Diamond which went under the hammer in 2011. The pear-shaped stone weighed in at 110 carats and sold for just over $12.25 million.
The month of May will see another significant yellow diamond up for sale as the Asian auction house Luxeford will be having a Fine Jewels auction featuring a 34.46 carat Fancy Intense yellow diamond. The yellow stone is set on a 41-centimetre necklace that features 67.30 carats of white diamonds. Pre-sale estimates suggest the piece should sell for $1.8 million but no one would be surprised it reached the $2 million range.
Yellow diamonds get their colour when nitrogen molecules are trapped within the stone while it is forming. These molecules give the diamond the ability to absorb blue light making the stone appear yellow. The more nitrogen introduced, the deeper the colour yellow appears.
Colour diamonds have been all the rage at fine auctions of late as “The Orange” sold for almost double the original estimates at Christie’s November auction and “The Pink Star” sold for what would have been a record price for any gem stone when it sold for $83 million. However, the buyer has since defaulted on the purchase and the stone is back in Sotheby’s collection.