No mother will mind if her gift is two days late if it just so happens to be a purchase from the world famous Sotheby’s Geneva auction. On May 13, Sotheby’s Geneva will auction a diamond that’s said to be the one of the most sizable colored diamonds in the world. The 100.09-carat yellow diamond is known as the Graff Vivid Yellow, one of the biggest diamonds in the world of any color.
The diamond is the color of a daffodil and will be sold among several other high-end pieces at the world famous Magnificent Jewels and Nobel Jewels auction. The diamond is mounted on a ring that features white diamonds surrounding the band. It’s privately owned and the asking prices is expected to be anywhere between $15 and $25 million.
However, Sotheby’s would not be surprised if the ring actually sells for a significant amount higher than the expected asking price. Recent sales at upscale jewelry auctions prove this might be true. Christie’s in Geneva sold the world’s largest orange diamond in November for more than $35 million, despite the fact that the price was expected to be anywhere from $17 to $20 million. The very next day, Sotheby’s auctioned the world’s largest pink diamond, named the Pink Star, for $83 million. This price is $23 million more than the asking price. It set the world record for the price of a diamond sale, despite the fact that Sotheby’s had to take back the diamond after the buyer defaulted on payments in April.
Sotheby’s sold another pink diamond in November 2010 for $46 million. The Pink Graff was only a bit over 24 carats, and it sold for well over its initial asking price. Whether or not the Graff Vivid Yellow will sell for more than the asking price remains to be seen, but with recent diamond purchases far exceeding asking prices, it’s sure to sell for a price much higher than expected.
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