One of the largest diamonds in the world will soon be on auction at Christie’s next month.
A gorgeous 205.07-carat canary yellow diamond, dubbed “The Red Cross Diamond,” made its debut at Christie’s acution during World War I will be sold for the third time by the auction house in Geneva, Switzerland at Christie’s “Magnificent Jewels” sale on May 11. Prestimate between US$7.5 million and US$10.7 million.
A portion of the proceeds from the sale will go toward the International Committee of the Red Cross. “Part of the proceeds of the sale will benefit the International Committee of the Red Cross, for a cause that is even more poignant in the midst of current events,” François Curiel, chairman of Christie’s Europe and head of the luxury department, said in a statement.
“This is the third time in over 100 years for Christie’s to present this extraordinary canary yellow diamond of 205.07 carats,” said François Curiel, chairman of Christie’s Europe and head of its luxury department, in a statement. “This is a very special bond and tremendous honor.”
Courtesy of Christie’s
Curiel called the Red Cross a “cause that is even more poignant in the midst of current events.”
The cushion-shaped diamond, cut from a 375-carat rough stone found in 1901 in a De Beers South African mine, is one of the largest diamonds in the world, according to Christie’s. After cutting and polishing, the yellow diamond features a distinctive shape of a Maltese cross, consisting of four “V”s on the top facet.
It first appeared at Christie’s London in April 1918, in an auction benefiting the Red Cross. The stone sold for $782,000 today (or £10,000) to London jewelry firm S.J. Phillips, while the entire sale netted approximately $3.9 million today (£50,000).
The jewel was offered for the second time by Christie’s in Geneva in 1973, going for roughly $4.7 million today (CHF 1.8 million) and returning it to private ownership, the auction house said.
Courtesy of Christie’s
Christie’s has staged sales in support of the Red Cross on numerous occasions over the last 100 years, many tied to major world crises. Benefit events were held at the auction house during World War I in 1918, World War II in 1940, the Sudanese Civil War in 1986, and the outbreak of wildfires in California in 2018.
Gagosian gallery also announced a sale benefiting a humanitarian aid organization. The gallery is producing a limited run of 500 silk scarves designed by artist Ed Ruscha, each of which bears the phrase “Science Is Truth Found Out,” and is priced at $1,200 a pop. All proceeds will go toward (RED), the organization established by Bono and Bobby Shriver in 2006, to support its effort in bringing pandemic relief to vulnerable communities around the world. The Bill and Melinda Gates Foundation will match every dollar raised.
Courtesy of Christie’s
“The Red Cross Diamond” will highlight Christie’s sale of magnificent jewels on May 11 in Geneva. The sale’s top item is “The Rock,” a 228.31-carat white diamond with a presale estimate between US$20 million and US$30 million, the auction house announced previously.
Both gems will be on public exhibition at Christie’s New York galleries from April 29 to May 1.