April 2, 2019 marks the date of Sotheby's latest auction event, wherein the world's top jewelry audiences will arrive to bid for a D-flawless 88.2ct oval-brilliant diamond. Most estimates for the sale of this rare gemstone range from between 11.2 to 12.7 million dollars. A very small number of large oval cut diamonds have been released at auction houses during the recent years, but a previous 118 ct oval did sell for about 30.6 million dollars in 2013.
The current stone, weight at just a bit over the lucky number 88, is sure to please many collectors at the event's location in Hong Kong. The number represents a 'double infinity' for many cultural societies, and it's very rare to see such a large diamond in this exact carat weight. The rise of asia as a primary force in the jewelry-buying sector shows how its influence also affects the decision of high-end diamond cutters to tailor stones precisely for this growing market.
Patti Wong, chairman of Sotheby’s Asia, labeled the stone as a rare “treasure” in a statement made dates before the event. Sotheby's has always been a driving force in the auction world, most especially for jewelry and the arts. They've been able to publicise and sell some of the world's largest faceted diamonds, in all manners of shapes and color hues. Last year (2018), the sales totalled from their jewelry auctions is said to be somewhere slightly over 400 million dollars.
