A 303-Carat Yellow Diamond Is Being Sold at Auction Without Reserve
“The Golden Canary” is one of the world’s largest polished diamonds, valued at more than $15 million.
Just days after announcing a group of eight blue diamonds, Sotheby’s has unveiled another notable gem: “The Golden Canary,” a 303.10-carat fancy deep brownish-yellow diamond.
Sotheby’s said it’s one of the largest polished diamonds in the world and the largest flawless or internally flawless diamond ever graded by the Gemological Institute of America.
Adding to its notability is its interesting provenance.
The Golden Canary’s story started in the early 1980s, when a young girl playing in her uncle’s backyard in the Democratic Republic of the Congo found it in a pile of rubble.
At the time, miners from the nearby Miba diamond believed the rubble to be too bulky to be diamond-bearing and discarded it, Sotheby’s said. Within it, there ended up being an 890-carat rough diamond.
The girl gave the stone to her uncle, who sold it to local diamond dealers.
The public got its first chance to see the rough diamond in 1984 at the Smithsonian National Museum of Natural History where it was on display alongside some of the world’s most notable diamonds and became a global sensation.
Over the next five years, it was cut into 15 finished stones, the largest of which was a shield-shaped 407.49-carat fancy deep brownish-yellow diamond formerly known as the “Incomparable Diamond.”
The Incomparable appeared in many museum exhibitions around the world, including “The Nature of Diamonds” at the American Museum of Natural History in New York in 1997, “Diamants” at the Muséum National d’Histoire Naturelle in Paris in 2001, and most recently in “The Nature of Diamonds,” an exhibition that toured The Royal Ontario Museum and the Houston Museum of Science in 2008.
The stone was eventually recut to maximize the depth of its color, brighten its hue, and improve its shaped, resulting in what’s now being presented as The Golden Canary.
The GIA had this to say about the stone, post-recutting: “The re-cut of the Incomparable to the current 303.10-carat pear modified brilliant is to look at the diamond as new; a re-creation bringing to bear the advances in technology, computer modeling, and visual evaluation available today. Everything from the orientation of the stone to its shape and cutting style has been considered.”
The Golden Canary will go up for auction during the Sotheby’s Magnificent Jewels auction in New York on Dec. 7.
It’s estimated to sell for more than $15 million but will be offered without reserve, meaning there is no minimum price the seller is willing to accept for the stone.
The diamond will be showcased on a worldwide tour, starting this week in Sotheby’s galleries in Dubai, followed by cities including Taipei, Geneva, and Hong Kong.
“We have had an exceptional year of presenting extraordinary colored diamonds at our global jewelry auctions, as the demand and appetite for these rarities continues to grow. Just two weeks after the record-breaking sale of the Williamson Pink Star for $57.7 million, we are honored to offer the largest polished diamond in present existence to appear at auction,” said Quig Bruning, head of jewelry for Sotheby’s Americas.
“Steeped in history, The Golden Canary is one of the most exquisite diamonds to ever be discovered, not only for its sheer size and intensity in color, but for its stunning beauty that is sure to captivate collectors around the world. Sotheby’s is privileged to help write the next chapter for this incomparable, reborn gem.”
The Latest
The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.