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Jeweler buys ‘Pink Legacy’ diamond for record $50 million: Christie’s

GENEVA: The “Pink Legacy”, a diamond weighing just under 19 carats, fetched a record 50.375 million Swiss francs ($50 million), purchased by U.S.-based luxury jeweler Harry Winston, Christie’s said on Tuesday. Harry Winston, owned by Swatch whose CEO is Nayla Hayek, daughter of the late Swatch founder Nicolas Hayek, promptly renamed it “The Winston Pink Legacy”, adding it to its collection of rare jewels, the auction house said. The semi-annual Geneva jewelry sale netted $110 million, with 86 percent of lots finding…

Indian diamond traders robbed at Paris metro station

PARIS: Robbers have made off with gems worth 300,000 euros (S$488,000) snatched from two Indian diamond traders as they were entering a Paris metro station, a source close to the investigation said Friday. "The two traders were coming back from a business meeting and were attacked Monday afternoon by two men," the source said, confirming a report by French magazine Le Point. "A bag containing several precious stones - but no diamonds - was stolen," the source added. "Early indications are that it could have been a…

‘Rarest white diamond ever’ to be sold in London

LONDON: A flawless diamond, the size of a large strawberry, is expected to fetch a world record price when it comes to market at Sotheby’s in London this month. Weighing just over 102 carats, the round, brilliant white stone is smaller than a 118-carat oval diamond sold in Hong Kong in 2013, which currently holds the record price per carat. But Sotheby‘s, which also handled that Hong Kong sale, expects the smaller stone’s rarity and high quality will see it attract an even higher price. “That (stone sold in Hong…

World’s fifth largest diamond discovered in Lesotho

MASERO: A diamond thought to be the fifth largest of gem quality ever found has been discovered in Lesotho, miner Gem Diamonds said Monday, and could be worth as much as $40 million. The company unearthed the D-colour stone at the Letseng mine in the landlocked southern African country and described the 910-carat find as of "exceptional quality". "Since Gem Diamonds acquired Letseng in 2006, the mine has produced some of the world's most remarkable diamonds, including the 603 carat Lesotho Promise," Gem Diamonds chief…

Largest diamond ever auctioned to go under hammer in Geneva

GENEVA: The largest diamond ever offered at auction is set to go under the hammer in Geneva Tuesday evening, with bids expected to top $25 million. The “sensational" 163.41-carat flawless diamond, suspended from an emerald and diamond necklace called The Art of Grisogono, will be one of the highlights at the Christie’s autumn jewel auction. "To date, this is the largest D flawless diamond ever to appear for sale at auction," Christie’s said when it first announced the gem would be part of its annual Magnificent Jewels…

Eight outrageously expensive gifts ever given

Have you ever thought of returning a gift, unless it’s a compulsion? Well, not. Gifts are always special and even more special when they are thoughtful. Such surprises are usually a token of love, affection, and appreciation. At times, however, gifts are exceedingly expensive, mostly when someone has got piles of cash stashed up in the bank account. This translates into news headlines at time. We will take a look at most expensive gifts people or celebrities have ever received. $84 million…

World’s biggest uncut diamond sells for $53m

LONDON: British jeweller Graff said on Tuesday it has purchased the world's largest uncut diamond -- roughly the size of a tennis ball -- for $53 million (44.5 million euros). Canadian miner Lucara Diamond sold to Graff the 1,109-carat gem, the Lesedi La Rona, which was found in Botswana's Karowe mine in late 2015. "We are thrilled and honoured to become the new custodians of this incredible diamond," said company chairman, Laurence Graff, in a statement. "The stone will tell us its story, it will dictate how…

For world’s super-rich, a pink diamond is forever

LONDON: For the world's super-rich, the investment of choice is increasingly a very rare naturally pink diamond, an asset class that this year has set records at auction. Tobias Kormind, managing director of 77 Diamonds, which has a shop in London's Mayfair district and sells online, says the trend for coloured stones has gathered strength as the world emerged from financial crisis. "Very savvy investors clocked on to the fact these coloured stones are so incredibly rare," Kormind told Reuters Television. Naturally…

Seven held over $72 mn Amsterdam diamond heist from 2005

THE HAGUE: Seven people have been arrested over the robbery of $72 million (67 million euros) in jewellery, one the world's biggest ever heists, from Amsterdam's airport nearly 12 years ago, authorities said Saturday. The diamonds and jewellery were taken during the hold up of a KLM armoured car in a high-security portion of Schiphol airport in February 2005, police said in a statement. Though the thieves were armed, no one was hurt in the heist. Police "carried out, on Friday January 20 and Saturday January 21,…