Feds to Sell Seized 43-Carat Fancy Yellow Diamond

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A 43.51-carat internally flawless fancy intense yellow diamond will be up for auction September 6 – 9 at online auction site, Bid4Assets. The minimum bid for this cushion modified brilliant cut beauty is set at $900,000 and is currently on preview on the auction website.

The diamond was seized in a drug sting in 2006 by the U.S. Marshals Service Northern District of Ohio. The feds had the diamond authenticated by the GIA (REPORT 15154097, June 8). However, the diamond’s origin cannot be determined.

This diamond spans a 1.42 length-to-width ratio. It has a pure yellow hue with no green or orange modifying color and the color distribution is very even with no visible zoning present, according to a joint statement from USMS and Bid4Assets. “The diamond is believed to be one of the world’s most perfect and flawless canary yellow diamonds.”

The diamond belonged to Ohio businessman Paul Monea, according to court documents. Monea was convicted of money laundering and conspiracy in 2007 in U.S. District Court in Akron. He tried to sell the gem, known as the “Golden Eye,” to undercover agents posing as brokers for a South American drug cartel.

The USMS requires that bidders submit a refundable pre-bid deposit of $180,000 prior to placing a bid. Instructions for submitting the deposit can be found on the auction listing page.

There will be a viewing held for this diamond from August 29 till September 2 in Cleveland, Ohio. Only serious, qualified buyers who have submitted a deposit may view the diamond.