RapNet


Rapaport News

 

Polished Markets

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

De Grisogono Diamond Set to Sell for Over $30M

Emerald-Cut 163ct. Jewel Unveiled as Bespoke Necklace or Bracelet
Oct 18, 2017 10:55 AM   By Avi Krawitz
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
The owners of a historic emerald-cut diamond are expecting the jewel to sell for more than $30 million when it goes under the hammer at Christie’s Geneva next month.

The 163-carat, D-flawless diamond, known as The Art of de Grisogono, Creation 1, was presented at the Dubai Diamond Conference on Tuesday, initially in its necklace setting (pictured below) and then as the centerpiece of a bracelet (pictured above).

The transformation was a surprise element in the display, as the diamond had previously only been unveiled as part of a necklace featuring another 18 emerald-cut diamonds and two rows of pear-shaped emeralds.

“We wanted to provide the lucky woman who possesses this work of art with an option of how to wear it,” Fawaz Gruosi, founder and creative director of de Grisogono, told Rapaport News at the conference. “It can be part of the necklace or the bracelet.”

Christie’s has not provided a pre-sale estimate for the piece, billed as the largest emerald-cut, D-color, flawless diamond ever to go on auction. However, Gruosi told Rapaport News he had a price of $30 million to $40 million in mind.

The polished diamond came from a 404-carat rough stone mined at the Lulo mine in Angola, which the Swiss jeweler bought for $16 million in partnership with Nemesis International, a Dubai-based diamond manufacturer.

In its rough form, the stone had an unprecedented purity, said Konema Mwenenge, CEO of Nemesis. Some 14 craftsmen worked on the diamond, primarily in New York. Another four or five smaller satellite stones were also polished from the rough, but will be sold separately, Mwenenge added.

The decision to sell the stones as independent pieces, rather than as a set, is part of de Grisogono’s and Nemesis’s strategy to present truly special diamonds as works of art, Mwenenge noted. In that spirit, he explained, the sale of Creation 1 is not just about price.

“It’s not only about the diamond,” added David Warren, Christie’s Middle East head of jewelry. “It’s about an artistic jewel.”

Since its unveiling in Hong Kong in September, The Art of de Grisogono, Creation 1 has set out on a world tour that has so far included a stop in London as well as Dubai. A New York viewing is scheduled for November 4 and 5, and the final stop will be in Switzerland the week before the November 14 sale.
Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Angola, Art of de Grisogono, Avi Krawitz, De Grisogono, diamond, diamonds, jewellery, Jewelry, Lulo mine, Nemesis International
Similar Articles
Dubai Conference Lab Grown PanelSynthetics vs. Natural: The Battle over Value
Nov 13, 2019
In a jam-packed program, the Dubai Diamond Conference set the stage...
7ct. Blue Fetches $12M at Christie’s Geneva
Art Deco Jewels Lead Bonhams Auction
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us