Rare Red Diamond Auction at Sotheby’s Sydney

Sotheby’s Australia will be auctioning off a very rare red diamond in Sydney on April 12th, 2010, at its very first Australia-based auction.  The collection will include more than 250 lots of antique and contemporary jewelry.   Presale estimates range from $3.5 million to $4.7 million.

Red Diamond Ring Sotheby's Australia

Not too many people know that pink and red-tinted diamonds most often come from Australia, from the renowned Argyle mines.  The natural highlight of the entire sale is  a fancy purplish-red Argyle diamond ring.  This eye-catching piece has a presale estimate of $642,000 to $916,000.  Rare red diamonds like this are hardly ever auctioned, and it is the first of its type to be auctioned off in Australia, coming with an authentic letter from Argyle attesting to its rarity.  Coming to weigh in at 0.82 carats, the stone is couched between a pair of blue diamonds in round brilliant cut and several sparkling diamonds in glamorous pave settings.

Also under auction are a double strand of graduated emerald beads (amounting to almost 176 carats), which are also highlighted by diamond set rondelles.  A sapphire and diamond ring are to be sold, as well as a 5.52 carat emerald and diamond ring. And it’s not only diamond jewelry that’s up for sale, but also watches from the likes of Rolex, Piaget, Cartier, and Breitling.  And finally there’s a special but unusual addition to the auction: a must-have Vertu ‘pink diamond signature’ mobile phone.  Better not lose it!

7 Interesting Diamond Factoids

Antwerp’s diamond district is a treasure trove of diamond factoids, diamond history and, of course, diamonds. It is the city which handles nearly 80 percent of the world’s rough diamonds and over 50 percent of the world’s precious stone-quality diamonds. The diamond district in Antwerp is a small area (only a square kilometer) and also holds the Diamond Museum, a world-renowned museum which provides an in-depth look into the diamond industry and its worldwide impact. Here are some interesting factoids about the ever-changing world of diamonds that you probably didn’t know.

  1. Pink diamonds originate from Australia. Research shows that nearly all natural pink diamonds are found in Australia’s Argyle Mine.
  2. Until 1990, De Beers owned 90 percent of the diamond market. And what’s even more ridiculous is that almost all diamond purchases before 1990 put some money into De Beer’s deep pockets.
  3. Many dentist drills are embedded with diamonds. That’s because diamond is virtually unbreakable!
  4. Almost 80 percent of diamonds mined are ground into diamond powder. What’s all that diamond dust for? Most of it is melted into the metals of drills, knives, saws and other metal tools.
  5. The word “diamond” has its etymological roots in the word “indestructible”. Not a bad word linkage for what is known to be the hardest substance on the planet. “Diamond” is a mutation of the Greek word “adamas”, meaning “indestructible”.
  6. Diamonds cut before 1950 have a different shape from most diamonds cut after 1950. Gemologists established the “Antwerp” cut in 1950, in which they found a shallower geometry to cut, which distributed more light and sparkle.
  7. The term “carats” is actually a reference to the diamonds equivalent weight in carob seeds. “Carat” is a derivative of the Greek word for “carob seed”.