Sotheby’s Plans October Auction of 118-carat Diamond

CTV News reported that on October 7, Sotheby’s will auction off an egg-sized, 118-carat white diamond in Hong Kong. It is estimated that the gem will go for $28 to $35 million.

As quoted in the market news:

It was discovered in 2011 as a 299-carat rough diamond in an undisclosed southern African nation.

The current record for any white diamond is $26.7 million. That pear-shaped stone was more than 101 carats. It was sold at Sotheby’s Geneva last spring.

The stone being auctioned next month is nearly 20 per cent larger.

Click here to read the full CTV News report.