Auction house Sotheby's said Wednesday that rare and precious gemstones are generating a strong following in the Asian region. This as Sotheby's unveiled a 72-carat, flawless white diamond set to be hammered off for $10 million to $12 million in the upcoming Asian sale.
Quek Chin announced that this D-color, white stone will be the third largest "pear-shaped" stone ever auctioned globally and the most expensive diamond ever sold at auction in Asia.
The April 10 auction will cater to a "very discerning" Asian clientele, and the stone is expected to fetch $10 to $12 Million because of its size, symmetry and esteemed "TypeIIA" rating -- a distinction given to the most brilliant of white D-color diamonds.
The most expensive diamond ever sold at Sotheby's auction is the 100-carat "Star of the Season" which fetched $16.5 million in 1995.
The new owner of the great gem gets to name the stone.
Earlier, rival auction house Christie's announced the May 28 auction of a 101.27-carat colorless diamond in Hong Kong.
The still unnamed stone came from the Premier diamond mine of South Africa, and forms part Christie's Spring Masterpieces Exhibition - a collection which showcases art, jewelery, and contemporary and impressionist paintings worth $342 million.
