Wednesday, October 19, 2011

Giant Yellow Diamond Sells at Christie's for $6.6M

An anonymous bidder paid a whopping $6.6 million for a rare 33.77-carat diamond at Christie’s New York Magnificent Jewels auction, held Tuesday.

The pear-shaped, named Vivid Yellow, has such an intense yellow hue that the Gemological Institute of America (GIA) categorized it as one of the rarest gemstones in its class, according to the trade publication Professional Jeweller.

Rahul Kadakia, head of Jewelry at Christie’s New York, called $201,000-per-carat “a sensational price”, on a par with the famed “Gold Drop” diamond which sold in 1990 at Christie’s London. The Gold Drop diamond was 18.49 carats.

“The Vivid Yellow literally blazes with color, unlike any yellow diamond I’ve ever seen,” said Rahul Kadakia in a Christie's statement. “In the world of diamonds, a naturally colored stone of this incredible color and size represents a freak occurrence — an extremely rare geological phenomenon."

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