100-carat diamond could fetch $25 million at auction

Perfection happens far and few between. For $25 million, it can be yours.

Today Sotheby’s New York will be selling a 100-carat, emerald cut diamond, the largest of its clarity and cut every shown at auction. Labeled as “flawless” and the “perfect” diamond, the stone is expected to fetch upwards of $25 million.

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"Simply put, it has everything you could ever want from a diamond: the classic shape begs to be worn, while the quality puts it in an asset class of its own," said Lisa Hubbard, Chairman of North and South America for Sotheby's International Jewelry Division, in a press release.

The record for any diamond sold is $46 million for a 24.78-carat emerald-cut pink stone, which occurred at Sotheby’s in 2010. According to sources, only five “perfect” diamonds over 100 carats have sold at auction in the last 25 years.

"People everywhere have been drawn to it from across the room and they are in awe of its size, particularly when they put it on their hand," says Gary Schuler, the head of Sotheby's jewelry department in New York. "They can't believe there's a diamond this pure of such impressive scale."

The diamond was found by De Beers in southern Africa within the last 10 years. The current owner spent more than a year studying, cutting and polishing the rough diamond before delivering the stone to the auction house.

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"A classic emerald cut like this one allows for a wide expanse of pure material to be viewed without the distraction of a more complex facet arrangement," Schuler says. "It's almost like looking at the glimmer of a reflecting pool."