Over 300-Carat Yellow Diamond to Be Auctioned Without Reserve

A yellow flawless diamond weighing more than 303 carats will be auctioned without reserve in December at Sotheby’s in New York. While bids starting at US$1 million, it could fetch in the region of US$15 million, according to the auction house’s estimates.

Known as the Golden Canary for its rich brownish-yellow tone, the gemstone is one of the largest diamonds, cut and polished, in the world, and the largest flawless or internally flawless diamond ever graded by the Gemological Institute of America (GIA), according to Sotheby’s.

The pear-shaped diamond was re-cut from the 407-carat shield-shaped diamond known as the “Incomparable Diamond.” The latter was in turn cut from an 890-carat rough diamond discovered in a pile of rubble in the Democratic Republic of Congo in the 1980s by a young girl playing in her uncle’s garden, which was close to a diamond mine, according to Sotheby’s. The rough diamond was first unveiled to the public in 1984 at the Smithsonian National Museum of Natural History. Over the next five years, it was cut into 15 separate stones, and the largest one, known as “The Incomparable,” went on to be displayed around the world, including the American Museum of Natural History in New York in 1997, the Muséum National d’Histoire Naturelle in Paris in 2001, and in an touring exhibition with stops in the Royal Ontario Museum and the Houston Museum of Science in 2008.

“Steeped in history, the Golden Canary is one of the most exquisite diamonds to ever be discovered, not only for its sheer size and intensity in color, but for its stunning beauty that is sure to captivate collectors around the world,” Quig Bruning, head of jewelry for Sotheby’s America’s, said in a statement.

Previously, Sotheby’s sold a 100-carat cushion-shaped fancy vivid yellow diamond, Graff Vivid Yellow, in Geneva in 2014 for US$16.3 million, a world auction record for a yellow diamond.

Colored diamonds have been shining at Sotheby’s recent auctions in Hong Kong, Geneva, and New York. In February, the auction house sold a 555.55-carat black diamond for £3.2 million (US$4.3 million), which was also offered for sale without reserve, meaning the highest bidder became the new owner.

Earlier this month, Sotheby’s sold a 11.15-carat pink diamond,Williamson Pink Star, at a Hong Kong auction for HK$453.2 million (US$57.7 million), more than double its presale estimate.

A group of eight fancy blue diamonds from De Beers and Diacore, with a combined estimate of US$70 million, will be sold across a series of sales at Sotheby’s this year and throughout the spring 2023.

The Golden Canary will be offered on Dec. 7 at Sotheby’s in New York. It’s currently being exhibited at the auction house’s galleries in Dubai and will then travel to cities including Taipei, Geneva, and Hong Kong.