77.77-Carat Vivid Yellow ‘Lady Luck Diamond’ To Headline Sotheby’s Hong Kong Sale; Gem Could Fetch $7.7 Million
The 77.77-carat fancy vivid yellow “Lady Luck Diamond” could fetch $7.7 million when it hits the auction block at Sotheby’s Hong Kong in April.
Sotheby's top lot clearly has auspicious ties to the number seven, a fact that should widen the diamond's appeal at auction. For the Chinese, seven is a lucky number that also signifies togetherness. In the West, seven is considered the luckiest of all numbers and many a gambler has dreamed of a 7-7-7 slot machine jackpot.
For potential Asian buyers, the vivid yellow color of the diamond is desirable because it symbolizes royalty and power.
The cushion-cut, VS2 clarity “Lady Luck Diamond” is flanked by two 5-carat heart-shaped white diamonds in an 18-karat white and yellow gold ring. The ring mount is detachable so the impressive yellow center diamond can double as a pendant.
Pure yellow diamonds owe their color to the faint presence of nitrogen atoms in the diamond’s crystal structure. Vivid yellow diamonds, which boast the most intense saturation of color and superb golden hue, are extraordinarily rare.
When fine-quality diamonds of this type are offered in sizes 30 carats and larger, collectors and diamond connoisseurs take notice and are willing to pay premium prices.
In 2011, Sotheby's Geneva achieved an auction record for the sale of “The Sun-Drop Diamond” (renamed “The Lady Dalal”), a 110.03-carat pear-shaped fancy vivid yellow diamond weighing 110.03 carats. It sold for $12.36 million and was one of the largest diamonds ever to appear at auction. In May 2014, the 100.09-carat Graff Vivid Yellow achieved a world auction record price of $16.34 million, according to Sotheby’s.
The "Lady Luck Diamond" carries a pre-sale estimate of $6.8 to $7.7 million. Sotheby's "Magnificent Jewels and Jadeite Spring Sale 2015" will take place at the Hong Kong Convention and Exhibition Center on April 6. The sale will highlight 320 lots, including rare colorless and colored diamonds, gemstones and signed jewels from the 1930s. The auction is expected to generate more than $99 million in total sales.