The stone last sold in 1973 for roughly $4.75 million in today's dollars.
“The Red Cross Diamond” was originally cut from a rough stone believed to weight 375 carats that was found the De Beers South African mine in in 1901, according to Christie’s. The resulting cushion-shaped diamond is one of the largest in the world and is famous for its distinctive pavilion, which is faceted in the shape of a Maltese cross.
Christies expects the diamond to sell for significantly more on May 11. The auction house has slapped a pre-sale estimate on the stone of CHF 7 million to CHF 10 million, or roughly $7.5 million to $10.7 million,. A portion of the gavel price will go to charity, too. François Curiel, chairman of Christie’s Europe and head of its luxury department, said the stone will live up to its name with part of the proceeds from the sale going to the International Committee of the Red Cross.
As noteworthy as “the Red Cross Diamond” may be, it won’t be the headline lot Christie’s oversees that day. That distinction the largest white diamond to ever be offered at auction. That stone is expected to sell for upwards of $30 million.
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