20ct. Diamond Breaks Record in Australia

RAPAPORT… A polished stone weighing more than 20 carats has become the most expensive diamond ever sold at an auction in Australia, fetching AUD 1.6 million ($1.2 million), according to the company that carried out the sale.

The emerald-cut, 20.05-carat, H-color, VVS2-clarity diamond, set in a ring, beat its presale high estimate of AUD 1.5 million ($1.1 million) at the December 7 Important Jewels sale in Sydney, Leonard Joel said.

“The ring was greatly admired at the viewings in Melbourne and Sydney,” the Australia-based company noted. “It was sold to a local buyer who bid in the room after they had fallen in love with the piece at the viewing earlier the same day.”

Leonard Joel holds the record for the four most expensive diamonds purchased at auction in Australia, it said. In April, the company sold a 25.02-carat diamond ring for AUD 1.1 million ($801,569). Meanwhile, a ring set with a 9.67-carat, fancy-pink diamond from the Argyle mine went for AUD 725,000 ($516,567) and a 17.34-carat diamond ring brought in AUD 575,000 ($409,691).

In total, Leonard Joel banked AUD 9.8 million ($7 million) from its Important Jewels sales this year.

Image: The 20.05-carat diamond ring. (Leonard Joel)