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https://www.barrons.com/articles/christies-to-offer-the-red-cross-diamond-for-the-third-time-in-over-a-century-01649798611
A 205.07-carat fancy yellow diamond that made its debut on the auction block at Christie’s during World War I will be sold for the third time by the auction house in Geneva next month, with a presale estimate between CHF7 million and CHF10 million (US$7.5 million and US$10.7 million).
The cushion-shaped diamond, cut from a 375-carat rough stone found in 1901 in a De Beers South African mine, is one of the largest diamonds in the world, according to Christie’s. After cutting and polishing, the yellow diamond features a distinctive shape of a Maltese cross, consisting of four “V”s on the top facet.
In 1918, the diamond was sold at Christie’s London on behalf of the British Red Cross Society and the Order of St. John, the British royal order best known for the health organizations it runs, for £10,000 (approximately US$780,000 today) to London jeweler S.J. Phillips.
Dubbed “The Red Cross Diamond” since, the jewel was offered for the second time by Christie’s in Geneva in 1973, achieving CHF1.8 million (approximately US$4.7 million today) and returning it to private ownership, the auction house said.
“Part of the proceeds of the sale will benefit the International Committee of the Red Cross, for a cause that is even more poignant in the midst of current events,” François Curiel, chairman of Christie’s Europe and head of the luxury department, said in a statement.
“The Red Cross Diamond” will highlight Christie’s sale of magnificent jewels on May 11. in Geneva. The sale’s top lot is “The Rock,” a 228.31-carat white diamond with a presale estimate between US$20 million and US$30 million, the auction house announced previously.
Both gems will be on public exhibition at Christie’s New York galleries from April 29 to May 1.
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