A 1,086-carat diamond, the largest of its kind to be auctioned in Dubai, has been sold for an undisclosed amount.
The huge yellow-orange rock is unusual in terms of not only its look, but also its composition.
It is not one crystal, but several merged together, giving it its distinctive colour.
The gem-quality stone is from a mine in Southern Africa, said Martin Leake, a special adviser on diamonds to the Dubai Diamond Exchange at Dubai Multi Commodities Centre (DMCC).
It is a very speculative stone and it will be up to the buyers to try and unravel what polished outcomes will be possible
Martin Leake,
adviser on diamonds to the Dubai Diamond Exchange
“This is a very unusual diamond in that it is not one crystal, but rather a number of diamond crystals merged together, which is a natural gemological feature,” he said.
“Some of these individual crystals are darker than others and therefore give a yellow-orange glow.
“It is a very speculative stone and it will be up to the buyers to try and unravel what polished outcomes will be possible.”
It was sold in at an online auction earlier this week, generating huge interest among potential buyers.
“Given the exceptional size of this gem-quality rough diamond, experts have flown in from across the world to view it,” said Mr Leake.
“Viewing appointments were at full capacity throughout the five-day tender.”
The gem was sold at an online auction earlier this week.
The company that held the tender, Koin International, would not reveal the price it fetched. But it could be considerable, as "fancy diamonds" as they are known, can be very valuable.
It is not known what colour the diamond will be after it is polished, but coloured gems are possible and rare.
Diamonds are normally graded on the absence of colour, because colourless diamonds are the rarest, according to Gemological Institute of America. And even the slightest hint of colour can affect a normal diamond’s value.
But fancy diamonds, which are those outside the normal colour range and created via changes in their chemical structure as they form, can fetch vast sums.
They account for only 0.1 per cent of all diamonds, with colours ranging from pink to purple, red, blue, yellow, brown and every colour in between, according to the Gem Society.
Red diamonds are the rarest, with only 20 to 30 in existence. They cost on average more than $1 million per carat. The largest sold was 5.11 carats and was bought for $8 million, which is $1.6 million per carat.
Yellow is the most common colour for fancy diamonds, accounting for more than half the market.
The most expensive yellow diamond ever sold was the Graff Vivid Yellow. It weighed 100.90 carats, selling for $16.3 million in 2020.
The world’s largest fancy black natural-colour diamond was on show at Sotheby’s in the Dubai International Financial Centre earlier this month.
Acknowledged as one of the world’s rarest gems, The Pink Star diamond made history when it was auctioned by Sotheby’s in Hong Kong in 2017, becoming the most expensive jewel sold at auction.
Sotheby's unveils rare 555-carat black diamond in Dubai — in pictures
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test India won by innings and 53 runs at Colombo
- 3rd Test August 12-16 at Pallekele
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UAE currency: the story behind the money in your pockets
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Killing of Qassem Suleimani
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
RESULTS
5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).
5.30pm: Maiden (PA) Dh80,000 1,400m
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.
6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.
6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.
7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.
7.30pm: Maiden (TB) Dh80,000 1,600m
Winner: Dubai Canal, Harry Bentley, Satish Seemar.
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Rankings
ATP: 1. Novak Djokovic (SRB) 10,955 pts; 2. Rafael Nadal (ESP) 8,320; 3. Alexander Zverev (GER) 6,475 ( 1); 5. Juan Martin Del Potro (ARG) 5,060 ( 1); 6. Kevin Anderson (RSA) 4,845 ( 1); 6. Roger Federer (SUI) 4,600 (-3); 7. Kei Nishikori (JPN) 4,110 ( 2); 8. Dominic Thiem (AUT) 3,960; 9. John Isner (USA) 3,155 ( 1); 10. Marin Cilic (CRO) 3,140 (-3)
WTA: 1. Naomi Osaka (JPN) 7,030 pts ( 3); 2. Petra Kvitova (CZE) 6,290 ( 4); 3. Simona Halep (ROM) 5,582 (-2); 4. Sloane Stephens (USA) 5,307 ( 1); 5. Karolina Pliskova (CZE) 5,100 ( 3); 6. Angelique Kerber (GER) 4,965 (-4); 7. Elina Svitolina (UKR) 4,940; 8. Kiki Bertens (NED) 4,430 ( 1); 9. Caroline Wozniacki (DEN) 3,566 (-6); 10. Aryna Sabalenka (BLR) 3,485 ( 1)
Hunger and Fury: The Crisis of Democracy in the Balkans
Jasmin Mujanović, Hurst Publishers
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
