Lifestyle

Giant 205-Carat ‘Red Cross Diamond’ To Be Sold, With Some Of Proceeds Going To Namesake Aid Group

Topline

One of the world’s largest diamonds goes up for public sale subsequent month, with a portion of proceeds from the sale set to go to the International Committee of the Red Cross, the world’s largest humanitarian group, which it has been related to for greater than 100 years.

Key Facts

The “Red Cross Diamond” is a 205-carat canary yellow, cushion-shaped diamond that has a particular pavilion design that kinds a Maltese cross.

The tough stone is believed to have been mined by De Beers in South Africa in 1901, and to have initially weighed about 375 carats, in line with Christie’s, the public sale home that’s promoting the diamond for the third time in about 100 years.

The diamond obtained its title when it was first public saleed in 1918 by Christie’s to profit the British Red Cross Society and the Order of St John – which makes use of the Maltese cross as a logo.

London vintage vendor S.J. Phillips bought it for £10,000, or greater than $780,000 in the present day.

At one level, the gem was reportedly bought by a member of a European royal household, however when it appeared at public sale once more at Christie’s Geneva in 1973, it was offered by an American businessman for about CHF 1.8 million, or about $4.3 million in the present day.

The public sale might be held May 11 in Geneva–Christie’s didn’t instantly reply to Forbes questions on public sale estimates for the diamond or how a lot of the ultimate value might be donated to the Red Cross.

Tangent

Supporting the Red Cross’ humanitarian trigger is “even more poignant in the midst of current events,” mentioned François Curiel, Christie’s Europe and its luxurious division mentioned in a press release. Red Cross groups have helped evacuate some 58,000 folks from the preventing in Ukraine, and have distributed 1,000 tons of emergency help like meals, bedding, tents and water, in line with the American Red Cross.

Key Background

Diamond costs proceed to rebound after falling in 2020 because of the coronavirus pandemic. Since demand picked up once more final yr, extra massive and distinctive diamonds have been put up on the market, just like the 555.55 carat diamond – the largest to ever seem at public sale – that offered for $4.3 million at public sale in February. The Red Cross Diamond might be offered off on the similar Geneva sale subsequent month as a 228.31-carat pear-shaped diamond referred to as “The Rock,” which is the largest white diamond to ever be auctioned and is anticipated to fetch as a lot as $30 million.

Further Reading

This $30 Million White Diamond Is The Largest To Ever Appear At Auction (Forbes)

Enigma Black Diamond Sells For $4.3 Million At Auction (Forbes)

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