Giant diamond sells for $33.7 million

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Geneva: The largest diamond ever offered at auction is set to go under the hammer in Geneva Tuesday evening, with bids expected to top $25 million.

The Art of de Grisogono, Creation 1, an emerald and diamond necklace set with a rectangular cut, D-color, flawless diamond of 163.41 carats, sold for $33,705,994, setting a new world auction record at Christie's auction in Geneva.

The diamond was first taken from a 404-carat stone that was found in the African nation of Angola previous year.

It went under the hammer at Geneva's Four Seasons Hotel following a series of public viewings in Hong Kong, London, Dubai and NY.

The 404-carat diamond was found in Angola by Australian-listed company Lucapa Diamond. Ten diamond-cutting specialists worked on the rough in NY after it was analysed in Antwerp.

It took the 80-year-old six months to polish the diamond down into an emerald-cut.

Giant diamond sells for $33.7 million
Giant diamond sells for $33.7 million

Diamonds are one of the world's best-known and most precious and sought-after gemstones since ancient times.

Geneva jewellers de Grisogono then took on the task of transforming the massive diamond into a piece of wearable jewellery. He also said that it also gave him a big headache as there was an huge pressure of "dressing" such an wonderful diamond and doing something out of the box, as reported by Sky News.

"I have never had a problem finding creative ideas, but this time there was the huge pressure of "dressing" such an fantastic diamond. I needed a design that is outside the box".

The flawless 163-carat clear diamond, the centrepiece of an asymmetric gem-studded necklace, was the largest of its kind ever auctioned.

The stone can be detached from the necklace and attached to other jewellery.

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