88ct. Oval Diamond Fetches $14M

RAPAPORT… A rare oval diamond sold for nearly $14 million at Sotheby’s
in Hong Kong Tuesday, beating its high estimate.

The oval brilliant-cut, 88.22-carat, D-color, flawless, type
IIa stone is one of only three oval diamonds over 50 carats offered in auction
history, Sotheby’s said. The hammer went down on it at $13.8 million, or $156,150 per carat, at the
Magnificent Jewels and Jadeite sale. It carried a presale estimate of $11.2 million to $12.7 million.

The gem was purchased by a private Japanese collector who
first saw the stone while it was on display in Japan. He named it the Manami
Star, after his eldest daughter.

Fashioned from a 242-carat rough stone from De Beers’
Jwaneng mine in Botswana, the 88-carat polished diamond is considered lucky, as
the number eight signifies good fortune in Chinese and other Asian cultures,
Sotheby’s noted.

“[The diamond] now takes its place in the roster of top
white diamonds to have come to the market here at Sotheby’s Asia,” said Patti
Wong, chairman of Sotheby’s Asia. “Three clients from the region competed for
the stone —
testament to the strong demand for diamonds of this quality in this part of the
world.”

Image: The 88.22-carat diamond. (Sotheby’s)