72-Carat Diamond does not move at Hong Kong Auction
72-Carat Diamond does not move at Hong Kong Auction
A 72-carat flawless diamond, the star lot of Sotheby’s jewelry auction in Hong Kong with a pre-sale high estimate of HK$100 million ($12.8 million), was yanked of the block after the final bid failed to meet the reserve price.
Bidding for the D-colored pear-shaped diamond (and I don’t mean that fly Spearmint Rhino girl I know named Diamond, real name Cindy, either), the largest of its type to appear at Asian auctions, was supposedly disrupted by buyer confusion over foreign-exchange conversion for the gem. Potential buyers had called in from all over the world and bid for the gem in Hong Kong dollars. The mix-up might have led to the gem’s failure to move.
Personally, I think this shows the weakness in the world’s economy even at the highest levels. Good news for heistmen, weak economy = less money for security.
A D diamond is sometimes called “ice” for its top ranking on a scale that measures colorlessness. Ice is also what Hawaiians call Crystal Meth. Ice was also a sub-par nightclub, now defunct, in Las Vegas.
Source
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