Sunday, September 27, 2020

Carbon Markets: "102.39-Carat Flawless White Diamond Will be Unprecedentedly Offered ‘Without Reserve’ in Hong Kong"

From The Value:
Sotheby’s Hong Kong autumn auction is scheduled to be held in early October. After unveiling its highlights for the modern and contemporary art sales, the auction house has just revealed another leading lot this season: a 102.39-carat D-colour flawless oval diamond, which will be offered without reserve in a single-lot auction.

So far, only seven D colour Internally Flawless or Flawless white diamonds over 100 carats (in regular shapes) have been sold at auction and many fetched over HK$100m (about US$12.9m). Now the eighth diamond will be offered without reserve, meaning the winning bid is the highest bid regardless of its amount or the intrinsic value of the diamond itself. Why is Sotheby’s offering such a valuable diamond with this unprecedented approach?

....MUCH MORE, but hurry, previews October 3 - 5, auction immediately after the Modern Art evening sale.