The future is bright for one deep-pocketed diamond lover.
Sotheby’s is auctioning off a 102-carat diamond, which is expected to fetch between $10 million to $30 million and could potentially be the most expensive stone ever sold, the New York City-based auction company announced Thursday.
The sparkler is a 102.39-carat D Colour Flawless Oval Diamond. The gem is the second-largest oval diamond ever to be up for sale at auction, according to Sotheby's. Only seven D Colour white diamonds over 100 carats have ever been sold at auction.
The diamond will be offered without reserve, so the winning bid is the highest bid regardless of its amount or the value of the diamond itself, Sotheby’s said. The live auction will be held on Oct. 5, and bidding starts online Sept. 15.
Sotheby’s says this diamond was cut from a 271-carat rough and discovered in Ontario, Canada, in 2018, in the Victor Mine. The rough was then cut and polished over a year by diamond specialists Diacore to bring out its brilliance. Other diamonds in the elite category have sold for up to $30 million.
Like many industries, the diamond market has faced its challenges during the coronavirus pandemic. Diamond miners have been forced to delay or cancel sales due to travel restrictions, and rough diamond prices were down between 15% and 27% at recent shows, Reuters reported.