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118-carat diamond heads to Sotheby auction

epa03850772 A Sotheby's employee holds a 118.28 carat, D Colour Flawless, type11A, Magnificent Oval Diamond in New York City, New York, USA, 04 September 2013. The Diamond will be auctioned on 07 October in Hong Kong and the estimated price is 28-35 million US dollars (21-27 million euro). EPA/PETER FOLEY

PETER FOLEY/EPA

A Sotheby’s employee holds the 118.28 carat, D Color Flawless, type11A, Magnificent Oval Diamond.

It’s the size of a chicken egg, but expected to fetch twice as much as Derek Jeter got for his Manhattan penthouse last year.

A 118-carat diamond is expected to break auction records in October when Sotheby’s offers it up to deep-pocket bidders for an asking price of $ 28 million to $ 35 million.

The diamond is on display in New York prior to being auctioned off by Sotheby's.

PETER FOLEY/EPA

The diamond is on display in New York prior to being auctioned off by Sotheby’s.

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The flawless stone, mined in 2011 in an undisclosed nation in southern Africa, is the biggest perfect white diamond ever hit the auction block.

The 118-carat white diamond has a pre-sale estimate of $  28 million to $  35 million.

Mary Altaffer/AP

The 118-carat white diamond has a pre-sale estimate of $ 28 million to $ 35 million.

“It’s almost 20% larger than the next largest, so it’s a honker,” a Sotheby’s spokesman told the Daily News Wednesday.

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A Sotheby's employee holds the diamond. “It’s almost 20% larger than the next largest,” a Sotheby’s spokesman said.

PETER FOLEY/EPA

A Sotheby’s employee holds the diamond. “It’s almost 20% larger than the next largest,” a Sotheby’s spokesman said.

The auction house, which displayed the rock under heavy guard Wednesday at its upper East Side showroom, said the owner wants to remain anonymous.

The ice-like chunk of carbon will be the main attraction of Sotheby’s Magnificent Jewels and Jadeite auction on Oct. 7 in Hong Kong.

The 118-carat white diamond was 299 carats before it was cut down from its original rough condition.

Mary Altaffer/AP

The 118-carat white diamond was 299 carats before it was cut down from its original rough condition.

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By comparison, the diamond could fetch as much as Calvin Klein’s asking price for his four-bedroom Central Park West apartment or what rapper Soulja Boy dropped in 2011 on a Gulfstream G50 jet.

Jeter only got $ 15.5 million for his Trump World Tower four-bedroom penthouse.

The current records for both price and size for a perfect white diamond were set at a 2012 Christie’s auction when a 101.73-carat gem sold for $ 26.7 million.

Before it was worked over, the diamond Sotheby’s is now offering tipped the scales in a rough condition at 299 carats.

BHutchinson@nydailynews.com


Lifestyle – NY Daily News

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