Unique And Rare, This Largest White Diamond Sold Far Below Expectations, 'Only' Sold IDR 317 Billion

JAKARTA - The largest white diamond ever auctioned has surprised many people, when it was sold at a price far below expectations despite being called unique and rare.

The price when it was sold at auction at Christie's, Geneva, Switzerland, was below expectations, but the figure was still 'wow', reaching 21,681,000 Swiss francs or around IDR 317,406,839,783.

This 228.31-carat pear-shaped gem, nicknamed 'The Rock', comes from South Africa, where some of the world's largest diamonds have been found, including the pear-shaped 'African Star' and the 'Golden Jubilee.

'The Rock', which is the size of a golf ball, was previously worn as a luxurious Cartier necklace by its former owner, CNN reported May 12.

In addition to the pear-shaped stone, the new owners will also receive a round diamond and platinum pendant set from the French luxury brand.

Ahead of the sale, the head of Christie's jewelry department in Geneva, Max Fawcett, explained why 'The Rock' is such a unique rock.

"Often with these largest stones, they sacrifice some form to maintain the weight," he told Reuters.

"This is a very symmetrical pear shape and one of the rarest gems ever sold at auction."

Despite its splendor, The Rock's 'hammer price' fell far short of its expected low during Wednesday's quick bidding period. The auction house has given the diamond a high estimate of 30,000,000 Swiss francs.

In 2017, an elaborate emerald and diamond necklace from Swiss luxury jeweler de Grisogono, featuring a 163.41-carat rectangular fireworks display, broke a white diamond sales record for 33,500,000 Swiss francs.

But other lots in the sale of 'Magnificent Jewels' shattered expectations, including 1940s pink sapphires, rubies, and diamond brooches set by Cartier, which sold for 579,600 Swiss francs, more than 11 times their high estimate.

As well as 19th century jewelry, a diamond and pearl tiara, which sold for more than triple its estimated high at 2,394,000 Swiss francs. The final lot was a diamond nearly as big as 'The Rock', a 205.07 carat cushion-shaped yellow stone nicknamed 'The Red Cross Diamond'.

The gem sold for 14,181,250 Swiss francs, a portion of which will be donated to the Geneva-based International Committee of the Red Cross (ICRC).

First sold at Christie's more than a century ago to help the British Red Cross during World War I, the diamond is estimated to fetch between $7 million and $10 million, according to Fawcett.