World’s Biggest Yellow Diamond Sells for $10.9 Million

The world’s biggest yellow diamond recently sold at auction for $10.9 million (before tax). Sotheby’s Auction house had estimated that the 110.3-carat “Sun Drop Diamond” would fetch between $11 million and $15 million at the auction in Geneva.

The diamond may not have met the pre-sale estimate, but Sotheby’s auctioneers were very happy with the sale. Sotheby’s auctioneer David Bennet said that the $10.9 million purchase still set a new record for a yellow diamond.

Bennett told Reuters:

“It sold for a record for a yellow diamond … It was exactly within our expectation for this spectacular stone.”

According to USA Today, the yellow diamond was discovered in South Africa last year. The diamond was cut and polished for auction by New York-based Cora International.

MSNBC reports that the color in yellow diamonds is “caused by nitrogen impurities trapped within carbon molecules and hardened over the course of millions of years.”

The pear-shaped yellow diamond, known as the “Sun Drop Diamond” was the top seller at the Sotheby’s semi-annual jewellery sale in Geneva.