Japanese father buys 88-carat diamond for US$14 million at Sotheby's auction - Kogonuso

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Apr 2, 2019

Japanese father buys 88-carat diamond for US$14 million at Sotheby's auction

HONG KONG: A rare 88.22-carat oval diamond was sold to an anonymous Japanese collector for HK$108 million (US$13.8 million), including fees, at Sotheby's Asia on Tuesday (Apr 2).
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The D colour, flawless, type IIa, oval brilliant diamond is the largest to be auctioned in more than five years, Sotheby’s said in a release.

Three clients from the region competed for the stone.

The Japanese buyer who eventually won the bid named the stone Manami Star after his eldest daughter.

"This lucky stone now carries the name of the fortunate child whose father has chosen to give it her name. A happy moment in the journey of one of the earth’s greatest, oldest treasures," said Patti Wong, chairman of Sotheby's Asia.

The polished diamond came from a 242-carat rough stone that was discovered in the Jwaneng mine in Botswana, the African country that provides almost 40 per cent of the world's diamond rough supply.

"This spectacular 88.22-carat oval diamond is perfect in every way," said Yvonne Chu, Sotheby's Asia acting head of jewellery.

The bidding battle lasted for about 10 minutes.

In 2017, a 59.60-carat pink diamond was sold for a record US$71.2 million in Hong Kong to local jewellers Chow Tai Fook. The Pink Star, now the CTF Pink Star, holds the world auction record for any diamond or jewel.

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