Close Menu
    Facebook X (Twitter) Instagram Pinterest YouTube LinkedIn TikTok
    TopBuzzMagazine.com
    Facebook X (Twitter) Instagram Pinterest YouTube LinkedIn TikTok
    • Home
    • Movies
    • Television
    • Music
    • Fashion
    • Books
    • Science
    • Technology
    • Cover Story
    • Contact
      • About
      • Amazon Disclaimer
      • Terms and Conditions
      • Privacy Policy
      • DMCA / Copyrights Disclaimer
    TopBuzzMagazine.com
    Home»Science»‘The Rock’ diamond dazzles in Geneva
    Science

    ‘The Rock’ diamond dazzles in Geneva

    By AdminMay 20, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    ‘The Rock’ white diamond could fetch $20-30 million — or more.

    The biggest white diamond ever to be sold at auction, dubbed “The Rock,” will go under the hammer in Geneva on Wednesday and could fetch up to $30 million—or more.

    The 228.31-carat stone is up for grabs alongside a historic intense yellow diamond associated for more than a century with the Red Cross, which will receive some of the profits from its sale.

    The Rock is “a truly exceptional pear-shaped diamond,” said Max Fawcett, head of the jewels department at Christie’s auction house in Geneva.

    It is “the largest white diamond ever to be offered at auction,” he told AFP at a preview on Friday.

    The Rock is currently in the hands of an unnamed owner from North America.

    It could even break records when it goes under the hammer.

    “It’s perfectly symmetrical and is estimated at $20 to $30 million—and I expect there be fireworks on Wednesday,” Fawcett said.

    The equivalent in euros is 19 to 28 million.

    The expert said that there were only a handful of diamonds of similar size and quality to The Rock. The Christie’s record for a similar white diamond is $33.7 million, fetched in Geneva in 2017 for a 163.41-carat gem.

    Larger than a golf ball, The Rock was extracted from a mine in South Africa in the early 2000s. It has been shown in Dubai, Taipei and New York ahead of the sale in Geneva.

    Red Cross gem

    Bidders will also be vying for The Red Cross Diamond, a cushion-shaped, 205.07-carat canary yellow jewel, which has a price estimate of seven to 10 million Swiss francs ($7.09 to $10.13 million).

    “I expect that it will achieve much more on the day of sale,” said Fawcett.

    A large chunk of the proceeds will be donated to the International Committee of the Red Cross, which is headquartered in Geneva.

    The ‘Red Cross Diamond’ is among the largest diamonds in the world and bears the shape of a Maltese cross.

    The original rough stone was found in 1901 in a De Beers company mine in South Africa and is said to have weighed around 375 carats.

    As well as ranking among the largest diamonds in the world, a striking feature is its pavilion, which naturally bears the shape of a Maltese cross.

    The stone was first put up for sale on April 10, 1918 at Christie’s in London. It was offered by the Diamond Syndicate in aid of the British Red Cross Society and the Order of St John.

    The Red Cross Diamond fetched £10,000—approximately £600,000 ($740,000) in today’s money. It was bought by the London jewellers S.J. Phillips.

    It was sold again by Christie’s in Geneva in 1973, fetching 1.8 million Swiss francs, and is now being offered by the auction house for a third time.

    “For nearly half a century, our family has had the privilege of safeguarding The Red Cross Diamond,” the gem’s anonymous private owner said in a statement.

    Russia restrictions

    Several other diamonds will be auctioned on Wednesday, plus a tiara that belonged to princess Irma of Furstenberg (1867-1948), a member of one of the most pre-eminent aristocratic families in the Habsburg Empire.

    It is estimated to go for 400,000 to 600,000 Swiss francs.

    “The diamond market at the moment is very, very strong,” said Fawcett.

    He said rising demand, supply constraints due to “geopolitical issues” and inflationary pressure on commodities, including precious stones, was pushing the market to highs not seen since its 2013-2014 peak.

    The Russian invasion in Ukraine has had a major impact.

    More than 40 percent of the world’s diamonds are mined in Russia, including the famous Alrosa mine, but international markets no longer have access to Russian gems, said Fawcett.

    The supply constraint has created major price hikes and with the sanctions imposed on Moscow following the February 24 invasion, “prices will only continue to increase,” he said.

    Giant white diamond ‘The Rock’ makes debut in Dubai

    © 2022 AFP

    Citation: ‘The Rock’ diamond dazzles in Geneva (2022, May 6) retrieved 20 May 2022 from https://phys.org/news/2022-05-diamond-dazzles-geneva.html

    This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

    Read The Full Article Here

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Failed Soviet probe will soon crash to Earth – and we don’t know where

    May 9, 2025

    After 170 years, Thoreau’s river observations inform our changing climate

    May 8, 2025

    World’s first silicon-based quantum computer is small enough to plug into a regular power socket

    May 7, 2025

    Nothing is stronger than quantum connections – and now we know why

    May 7, 2025

    Astronomers observe the cooling process of a young stellar object following an accretion burst

    May 6, 2025

    ‘Titanic: The Digital Resurrection’ documentary sheds light on night ship sank

    May 6, 2025
    popular posts

    How the Senate Climate Bill Could Slash Emissions by 40

    The Raw, Gritty Story of One Man’s Battle With Big

    Florida Man Trailer Previews Netflix’s Crime Drama

    Buildings tumbling, survivors living in tents: Medieval descriptions of an

    Bookish Is a Bad Thing? A History of The Word

    Madewell Greta Ballet Flats Review With Photos

    Nicola Coughlan Weighs in on ‘Big Mood’ & ‘Bridgerton’s Friendship

    Categories
    • Books (3,212)
    • Cover Story (2)
    • Events (18)
    • Fashion (2,381)
    • Interviews (41)
    • Movies (2,511)
    • Music (2,789)
    • News (153)
    • Science (4,362)
    • Technology (2,505)
    • Television (3,234)
    • Uncategorized (932)
    Archives
    Facebook X (Twitter) Instagram Pinterest YouTube Reddit TikTok
    © 2025 Top Buzz Magazine. All rights reserved. All articles, images, product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Terms of Use and Privacy Policy.

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Do not sell my personal information.
    Cookie SettingsAccept
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT