Christie’s Expertise of Offering Unique Items Stands Out With “The Cullinan Dream”
Now that the full offering of the upcoming New York Auction by Christie’s has been revealed, we are able to better examine what the excitement is all about. It also happens to be the last major auction for the first half of the year. it puts a lot of pressure on auction houses to prepare for the second half of the year, and manage both investors & collectors expectations. The summer months tend to be quiet.
The Cullinan Dream, a reality for Investors and Collectors
At 24.18 carats, This Fancy Intense Blue Diamond is the largest of its kind to ever be offered at auction. it is estimated to be valued at between $23 million and $29 million or $951k to $1.2 million per carat. it has a VS2 clarity and is a Type IIb Diamond. The two strongest elements here are Provenance and size.
The Provenance Report from The Cullinan Mine & Other Famous Blue Diamonds
The Cullinan mine (was first known as The Premier Mine when it was owned by DeBeers, and later renamed when it was sold to Petra Diamonds) is famous for gifting us some the world’s most beautiful Blue diamonds:
The Oppenheimer Blue Diamond, a 14.68 carat, Fancy Vivid Blue Diamond
Image Courtesy: Diamond Investment & Intelligence Center
The Blue Heart ( also known as Eugenie Blue), a 30.82 carat, Fancy Vivid Blue Diamond
The Begum Blue, a 13.78 carat, Fancy Deep Blue Diamond
The Blue Moon of Josephine, a 12.03 carat, Fancy Vivid Blue Diamond
Image Courtesy: Diamond Investment & Intelligence Center
The Bulgari Blue, a 10.95 carat, Fancy Vivid Blue Diamond Image courtesy: Christie’s
The Star of Josephine, a 7.03 carat, Fancy Vivid Blue Diamond Image Courtesy: Petra Diamonds
The Graff Blue, a 20.02 carat, Fancy Deep Blue Diamond Image Courtesy: Graff Diamonds
Our Diamond is the second largest known Fancy intense Blue Diamond, right after the 30.06 carat, Fancy Intense Blue Diamond known as The Blue Lili. The Cullinan Dream Diamond is one of a handful of diamonds that were polished from the 122.52 rough Diamond found back in June of 2014.
The Blue Lili, a 30.06 carat, Fancy Intense Blue Diamond Image Courtesy: Goldberg Diamonds
The 122.52 carat rough Blue Diamond Image Courtesy: Petra Diamonds
The Art of Re-Polishing & Upgrading
When every single news outlet came out with the breaking news about the “Cullinan Dream” diamond last week racing to see who will be the first to announce it and get the most attention, I was sitting back watching to see if any of them will review important details, relevant information to what history is all about, provenance and details about the diamond which are relevant and important to potential investors and collectors.
Things you did not know
Allow me to tell you a little bit more than what anybody else has told you up to this point. First, it was not long before the rough, 122.52 carat was starting to take shape. With technology today, a rough diamond can be scanned by a special machine, and the yield can be calculated quite fast and in the most efficient matter. Then we can reconfigure the scan and see if other possibilities exist, since the machine does not take into consideration desires and taste of the market, it purely calculates the best yield. The 7 major (yes 7, not 4 as published up to now) diamonds were polished from the rough. The largest being a 28 carat Fancy Intense Blue Diamond. The first question that is asked would be: how come Petra has announced a 26 carat in their November Annual report, while the original size was in the 28 carat size (which only a handful of people know), and now, the auction house announces a 24.18 carat size, not to mention that the certificate is dated February 2016…?
The unveiling of the Cullinan Dream and peers Image Courtesy: Petra Diamonds Twitter
(see in small print the sizes mentioned in the image)
The Cullinan Dream Diamond Image Courtesy: GIA
It was indeed first a 28 carat Fancy Intense Blue, but the clarity was terrible. Although in Fancy Color Diamonds, the predominant element of value is color, and then shape and clarity, the color was both weak and low quality. It was closer to a Fancy Blue color rather than Fancy Intense blue, which would have greatly affected the value. Even the rough color was not a strong blue like the 29.6 rough that later was polished into the 12.03 Fancy Vivid Blue “The Blue Moon of Josephine” or even to the 25.5 carat rough that later was polished into the 7.59 carat round brilliant, Fancy Vivid Blue “Premier Blue Diamond”. After careful market analysis, and efforts to sell it as is privately, it was agreed to re-polish it into the 26 carat size that was announced by Petra Diamonds a few months back.
The Premier Blue Diamond, a 7.59 carat, Fancy Vivid Blue Image Courtesy: Sotheby’s
What is better? a “S” or a “V”?
As ot the date of the publishing I did not have all the details, but from my assessment, The “Cullinan Dream” was still not appealing in terms of clarity, which was most likely an SI1 or even worse, an SI2. For investors who prefer to get their hands on unique items, top quality and willing to pay for that One-of-a-Kind, it was still not enough. Therefore, the “Dream” had to go back on the polishing wheel to get a facelift. It was further polished to its current, 24.18 carat size. Was it worth losing 2 carats + and just get it to be a VS2? for only 1 or 2 upgrades? the loss of around 10% in weight may mean millions of dollars in lost potential value…
There is something of a psychological effect here. The Diamond could have been given an SI clarity for various reasons that could have been also a VS clarity. Except that when people review certificates, it talks to them more than the stone at that stage, and many may walk away from a simple viewing just because of that fact. Sometimes it would not increase the overall value of the diamond because of the loss of weight in the process, but will definitely make it more appealing to potential buyers.
What about Risk Management on behalf of Christie’s?
Some of you may have noticed, but on the description of the “Cullinan Dream” on Christie’s Website, there is a paragraph describing the risk that Christie’s took on the Diamond. At times, the auction house will take extraordinary measures in order to attract special items into the auction, which helps raise their profile towards investors and collectors. The auction house will give a monetary guarantee to the potential seller. No matter what happens at the auction, the seller is guaranteed a certain level of payment from Christie’s.
Pink Dream had Similar Circumstances
It reminds me the story of the “Pink Dream” diamond. Sotheby’s was in the same position, and offered the seller a guaranteed payment of $60 million on the 59.6 carat Fancy Vivid Pink. Based on the color, size, and clarity, it made perfect sense for Sotheby’s to take such steps and measures. At the end the outcome was much different. The official story says that the buyer defaulted on the payment, and Sotheby’s had to put the “Pink Dream” into its own inventory. Because Sotheby’s is a publicly traded entity, they had to make an announcement to the public because it was “material” for their financial statements. It is still currently on their inventory list. The positive part is that it is an asset, and with current market conditions, it is gaining further value, and may end up bringing Sotheby’s a lot more than what they bargained for…
The Pink Dream, a 59.6 carat, Fancy Vivid Pink Diamond Image Courtesy: Sotheby’s
The Sun of Africa Color Appeal
Back in the fall of 2014 I had written an article about “The Sun of Africa”, a Fancy Vivid Yellow Diamond. It was a 127.68 carat in size, the second largest fancy Vivid Yellow in the World. That too was re-polished in order to better appeal in the market. The weight of it prior to the re-polish is not important, it was a loss of less than 3% of the weight, but the fact that it was upgraded in clarity to a VS2, it was already more appealing to the investor. The objective was to make it more sellable.
The Sun of Africa, a 127.68 carat, Fancy Vivid Yellow Diamond Image Courtesy: Private
Petra Diamonds wants their Fair share…
This is not the only time that Petra Diamonds sells a rough diamond with the condition of creating more potential revenue fro the eventual polishing of a diamond. In this case they sold the rough diamond for $27.4 million to the polisher with a 15% ownership retainer after the polished diamonds would sell, meaning Petra Diamonds will receive a further 15% beneficial payment on any value created above the $27.4 million sale.
If the “Cullinan Dream” sells for $29 million, Petra will get 15% of the increment value after expenses. Let’s not forget about the other polished stones that came out of the rough. There are 3 other important diamonds polished, and a few smaller ones as well. all together, Petra will eventually gain more.
Let’s see if the re-polishing is well worth it, and if the risk that Christie’s took to enlist the diamond will yield any value. After all, if the “Cullinan Dream” fails to sell, the negative impact will affect Christie’s, not the polisher. The polisher will most likely end up selling the diamond in any case. The appearing at the auction house and global fame, will only increase its value in a private transaction, similar to what happened with the Shirley Temple. It too, was sold a few hours after it “failed” to sell at auction.
Related Posts
- The Oppenheimer Blue Diamond Helps Christie’s Gain Edge
- Sotheby’s New York Auction Breaks One Last Record For The Year With Blue Diamonds
- Unique Blue Diamond Ring Will Sell Privately After Shown To The World By Bonham’s
- Christie’s Will Close The Auction Season With Significant New York Sale
- Dreams Can Come True – With the “Cullinan Dream Diamond”
Christie’s Expertise of Offering Unique Items Stands Out With “The Cullinan Dream”
Now that the full offering of the upcoming New York Auction by Christie’s has been revealed, we are able to better examine what the excitement is all about. It also happens to be the last major auction for the first half of the year. it puts a lot of pressure on auction houses to prepare for the second half of the year, and manage both investors & collectors expectations. The summer months tend to be quiet.
The Cullinan Dream, a reality for Investors and Collectors
At 24.18 carats, This Fancy Intense Blue Diamond is the largest of its kind to ever be offered at auction. it is estimated to be valued at between $23 million and $29 million or $951k to $1.2 million per carat. it has a VS2 clarity and is a Type IIb Diamond. The two strongest elements here are Provenance and size.
The Provenance Report from The Cullinan Mine & Other Famous Blue Diamonds
The Cullinan mine (was first known as The Premier Mine when it was owned by DeBeers, and later renamed when it was sold to Petra Diamonds) is famous for gifting us some the world’s most beautiful Blue diamonds:
The Oppenheimer Blue Diamond, a 14.68 carat, Fancy Vivid Blue Diamond
Image Courtesy: Diamond Investment & Intelligence Center
The Blue Heart ( also known as Eugenie Blue), a 30.82 carat, Fancy Vivid Blue Diamond
The Begum Blue, a 13.78 carat, Fancy Deep Blue Diamond
The Blue Moon of Josephine, a 12.03 carat, Fancy Vivid Blue Diamond
Image Courtesy: Diamond Investment & Intelligence Center
The Bulgari Blue, a 10.95 carat, Fancy Vivid Blue Diamond Image courtesy: Christie’s
The Star of Josephine, a 7.03 carat, Fancy Vivid Blue Diamond Image Courtesy: Petra Diamonds
The Graff Blue, a 20.02 carat, Fancy Deep Blue Diamond Image Courtesy: Graff Diamonds
Our Diamond is the second largest known Fancy intense Blue Diamond, right after the 30.06 carat, Fancy Intense Blue Diamond known as The Blue Lili. The Cullinan Dream Diamond is one of a handful of diamonds that were polished from the 122.52 rough Diamond found back in June of 2014.
The Blue Lili, a 30.06 carat, Fancy Intense Blue Diamond Image Courtesy: Goldberg Diamonds
The 122.52 carat rough Blue Diamond Image Courtesy: Petra Diamonds
The Art of Re-Polishing & Upgrading
When every single news outlet came out with the breaking news about the “Cullinan Dream” diamond last week racing to see who will be the first to announce it and get the most attention, I was sitting back watching to see if any of them will review important details, relevant information to what history is all about, provenance and details about the diamond which are relevant and important to potential investors and collectors.
Things you did not know
Allow me to tell you a little bit more than what anybody else has told you up to this point. First, it was not long before the rough, 122.52 carat was starting to take shape. With technology today, a rough diamond can be scanned by a special machine, and the yield can be calculated quite fast and in the most efficient matter. Then we can reconfigure the scan and see if other possibilities exist, since the machine does not take into consideration desires and taste of the market, it purely calculates the best yield. The 7 major (yes 7, not 4 as published up to now) diamonds were polished from the rough. The largest being a 28 carat Fancy Intense Blue Diamond. The first question that is asked would be: how come Petra has announced a 26 carat in their November Annual report, while the original size was in the 28 carat size (which only a handful of people know), and now, the auction house announces a 24.18 carat size, not to mention that the certificate is dated February 2016…?
The unveiling of the Cullinan Dream and peers Image Courtesy: Petra Diamonds Twitter
(see in small print the sizes mentioned in the image)
The Cullinan Dream Diamond Image Courtesy: GIA
It was indeed first a 28 carat Fancy Intense Blue, but the clarity was terrible. Although in Fancy Color Diamonds, the predominant element of value is color, and then shape and clarity, the color was both weak and low quality. It was closer to a Fancy Blue color rather than Fancy Intense blue, which would have greatly affected the value. Even the rough color was not a strong blue like the 29.6 rough that later was polished into the 12.03 Fancy Vivid Blue “The Blue Moon of Josephine” or even to the 25.5 carat rough that later was polished into the 7.59 carat round brilliant, Fancy Vivid Blue “Premier Blue Diamond”. After careful market analysis, and efforts to sell it as is privately, it was agreed to re-polish it into the 26 carat size that was announced by Petra Diamonds a few months back.
The Premier Blue Diamond, a 7.59 carat, Fancy Vivid Blue Image Courtesy: Sotheby’s
What is better? a “S” or a “V”?
As ot the date of the publishing I did not have all the details, but from my assessment, The “Cullinan Dream” was still not appealing in terms of clarity, which was most likely an SI1 or even worse, an SI2. For investors who prefer to get their hands on unique items, top quality and willing to pay for that One-of-a-Kind, it was still not enough. Therefore, the “Dream” had to go back on the polishing wheel to get a facelift. It was further polished to its current, 24.18 carat size. Was it worth losing 2 carats + and just get it to be a VS2? for only 1 or 2 upgrades? the loss of around 10% in weight may mean millions of dollars in lost potential value…
There is something of a psychological effect here. The Diamond could have been given an SI clarity for various reasons that could have been also a VS clarity. Except that when people review certificates, it talks to them more than the stone at that stage, and many may walk away from a simple viewing just because of that fact. Sometimes it would not increase the overall value of the diamond because of the loss of weight in the process, but will definitely make it more appealing to potential buyers.
What about Risk Management on behalf of Christie’s?
Some of you may have noticed, but on the description of the “Cullinan Dream” on Christie’s Website, there is a paragraph describing the risk that Christie’s took on the Diamond. At times, the auction house will take extraordinary measures in order to attract special items into the auction, which helps raise their profile towards investors and collectors. The auction house will give a monetary guarantee to the potential seller. No matter what happens at the auction, the seller is guaranteed a certain level of payment from Christie’s.
Pink Dream had Similar Circumstances
It reminds me the story of the “Pink Dream” diamond. Sotheby’s was in the same position, and offered the seller a guaranteed payment of $60 million on the 59.6 carat Fancy Vivid Pink. Based on the color, size, and clarity, it made perfect sense for Sotheby’s to take such steps and measures. At the end the outcome was much different. The official story says that the buyer defaulted on the payment, and Sotheby’s had to put the “Pink Dream” into its own inventory. Because Sotheby’s is a publicly traded entity, they had to make an announcement to the public because it was “material” for their financial statements. It is still currently on their inventory list. The positive part is that it is an asset, and with current market conditions, it is gaining further value, and may end up bringing Sotheby’s a lot more than what they bargained for…
The Pink Dream, a 59.6 carat, Fancy Vivid Pink Diamond Image Courtesy: Sotheby’s
The Sun of Africa Color Appeal
Back in the fall of 2014 I had written an article about “The Sun of Africa”, a Fancy Vivid Yellow Diamond. It was a 127.68 carat in size, the second largest fancy Vivid Yellow in the World. That too was re-polished in order to better appeal in the market. The weight of it prior to the re-polish is not important, it was a loss of less than 3% of the weight, but the fact that it was upgraded in clarity to a VS2, it was already more appealing to the investor. The objective was to make it more sellable.
The Sun of Africa, a 127.68 carat, Fancy Vivid Yellow Diamond Image Courtesy: Private
Petra Diamonds wants their Fair share…
This is not the only time that Petra Diamonds sells a rough diamond with the condition of creating more potential revenue fro the eventual polishing of a diamond. In this case they sold the rough diamond for $27.4 million to the polisher with a 15% ownership retainer after the polished diamonds would sell, meaning Petra Diamonds will receive a further 15% beneficial payment on any value created above the $27.4 million sale.
If the “Cullinan Dream” sells for $29 million, Petra will get 15% of the increment value after expenses. Let’s not forget about the other polished stones that came out of the rough. There are 3 other important diamonds polished, and a few smaller ones as well. all together, Petra will eventually gain more.
Let’s see if the re-polishing is well worth it, and if the risk that Christie’s took to enlist the diamond will yield any value. After all, if the “Cullinan Dream” fails to sell, the negative impact will affect Christie’s, not the polisher. The polisher will most likely end up selling the diamond in any case. The appearing at the auction house and global fame, will only increase its value in a private transaction, similar to what happened with the Shirley Temple. It too, was sold a few hours after it “failed” to sell at auction.
Related Posts
- The Oppenheimer Blue Diamond Helps Christie’s Gain Edge
- Sotheby’s New York Auction Breaks One Last Record For The Year With Blue Diamonds
- Unique Blue Diamond Ring Will Sell Privately After Shown To The World By Bonham’s
- Christie’s Will Close The Auction Season With Significant New York Sale
- Dreams Can Come True – With the “Cullinan Dream Diamond”
Leave a Reply
You must be logged in to post a comment.
Christie’s Expertise of Offering Unique Items Stands Out With “The Cullinan Dream”
Now that the full offering of the upcoming New York Auction by Christie’s has been revealed, we are able to better examine what the excitement is all about. It also happens to be the last major auction for the first half of the year. it puts a lot of pressure on auction houses to prepare for the second half of the year, and manage both investors & collectors expectations. The summer months tend to be quiet.
The Cullinan Dream, a reality for Investors and Collectors
At 24.18 carats, This Fancy Intense Blue Diamond is the largest of its kind to ever be offered at auction. it is estimated to be valued at between $23 million and $29 million or $951k to $1.2 million per carat. it has a VS2 clarity and is a Type IIb Diamond. The two strongest elements here are Provenance and size.
The Provenance Report from The Cullinan Mine & Other Famous Blue Diamonds
The Cullinan mine (was first known as The Premier Mine when it was owned by DeBeers, and later renamed when it was sold to Petra Diamonds) is famous for gifting us some the world’s most beautiful Blue diamonds:
The Oppenheimer Blue Diamond, a 14.68 carat, Fancy Vivid Blue Diamond
Image Courtesy: Diamond Investment & Intelligence Center
The Blue Heart ( also known as Eugenie Blue), a 30.82 carat, Fancy Vivid Blue Diamond
The Begum Blue, a 13.78 carat, Fancy Deep Blue Diamond
The Blue Moon of Josephine, a 12.03 carat, Fancy Vivid Blue Diamond
Image Courtesy: Diamond Investment & Intelligence Center
The Bulgari Blue, a 10.95 carat, Fancy Vivid Blue Diamond Image courtesy: Christie’s
The Star of Josephine, a 7.03 carat, Fancy Vivid Blue Diamond Image Courtesy: Petra Diamonds
The Graff Blue, a 20.02 carat, Fancy Deep Blue Diamond Image Courtesy: Graff Diamonds
Our Diamond is the second largest known Fancy intense Blue Diamond, right after the 30.06 carat, Fancy Intense Blue Diamond known as The Blue Lili. The Cullinan Dream Diamond is one of a handful of diamonds that were polished from the 122.52 rough Diamond found back in June of 2014.
The Blue Lili, a 30.06 carat, Fancy Intense Blue Diamond Image Courtesy: Goldberg Diamonds
The 122.52 carat rough Blue Diamond Image Courtesy: Petra Diamonds
The Art of Re-Polishing & Upgrading
When every single news outlet came out with the breaking news about the “Cullinan Dream” diamond last week racing to see who will be the first to announce it and get the most attention, I was sitting back watching to see if any of them will review important details, relevant information to what history is all about, provenance and details about the diamond which are relevant and important to potential investors and collectors.
Things you did not know
Allow me to tell you a little bit more than what anybody else has told you up to this point. First, it was not long before the rough, 122.52 carat was starting to take shape. With technology today, a rough diamond can be scanned by a special machine, and the yield can be calculated quite fast and in the most efficient matter. Then we can reconfigure the scan and see if other possibilities exist, since the machine does not take into consideration desires and taste of the market, it purely calculates the best yield. The 7 major (yes 7, not 4 as published up to now) diamonds were polished from the rough. The largest being a 28 carat Fancy Intense Blue Diamond. The first question that is asked would be: how come Petra has announced a 26 carat in their November Annual report, while the original size was in the 28 carat size (which only a handful of people know), and now, the auction house announces a 24.18 carat size, not to mention that the certificate is dated February 2016…?
The unveiling of the Cullinan Dream and peers Image Courtesy: Petra Diamonds Twitter
(see in small print the sizes mentioned in the image)
The Cullinan Dream Diamond Image Courtesy: GIA
It was indeed first a 28 carat Fancy Intense Blue, but the clarity was terrible. Although in Fancy Color Diamonds, the predominant element of value is color, and then shape and clarity, the color was both weak and low quality. It was closer to a Fancy Blue color rather than Fancy Intense blue, which would have greatly affected the value. Even the rough color was not a strong blue like the 29.6 rough that later was polished into the 12.03 Fancy Vivid Blue “The Blue Moon of Josephine” or even to the 25.5 carat rough that later was polished into the 7.59 carat round brilliant, Fancy Vivid Blue “Premier Blue Diamond”. After careful market analysis, and efforts to sell it as is privately, it was agreed to re-polish it into the 26 carat size that was announced by Petra Diamonds a few months back.
The Premier Blue Diamond, a 7.59 carat, Fancy Vivid Blue Image Courtesy: Sotheby’s
What is better? a “S” or a “V”?
As ot the date of the publishing I did not have all the details, but from my assessment, The “Cullinan Dream” was still not appealing in terms of clarity, which was most likely an SI1 or even worse, an SI2. For investors who prefer to get their hands on unique items, top quality and willing to pay for that One-of-a-Kind, it was still not enough. Therefore, the “Dream” had to go back on the polishing wheel to get a facelift. It was further polished to its current, 24.18 carat size. Was it worth losing 2 carats + and just get it to be a VS2? for only 1 or 2 upgrades? the loss of around 10% in weight may mean millions of dollars in lost potential value…
There is something of a psychological effect here. The Diamond could have been given an SI clarity for various reasons that could have been also a VS clarity. Except that when people review certificates, it talks to them more than the stone at that stage, and many may walk away from a simple viewing just because of that fact. Sometimes it would not increase the overall value of the diamond because of the loss of weight in the process, but will definitely make it more appealing to potential buyers.
What about Risk Management on behalf of Christie’s?
Some of you may have noticed, but on the description of the “Cullinan Dream” on Christie’s Website, there is a paragraph describing the risk that Christie’s took on the Diamond. At times, the auction house will take extraordinary measures in order to attract special items into the auction, which helps raise their profile towards investors and collectors. The auction house will give a monetary guarantee to the potential seller. No matter what happens at the auction, the seller is guaranteed a certain level of payment from Christie’s.
Pink Dream had Similar Circumstances
It reminds me the story of the “Pink Dream” diamond. Sotheby’s was in the same position, and offered the seller a guaranteed payment of $60 million on the 59.6 carat Fancy Vivid Pink. Based on the color, size, and clarity, it made perfect sense for Sotheby’s to take such steps and measures. At the end the outcome was much different. The official story says that the buyer defaulted on the payment, and Sotheby’s had to put the “Pink Dream” into its own inventory. Because Sotheby’s is a publicly traded entity, they had to make an announcement to the public because it was “material” for their financial statements. It is still currently on their inventory list. The positive part is that it is an asset, and with current market conditions, it is gaining further value, and may end up bringing Sotheby’s a lot more than what they bargained for…
The Pink Dream, a 59.6 carat, Fancy Vivid Pink Diamond Image Courtesy: Sotheby’s
The Sun of Africa Color Appeal
Back in the fall of 2014 I had written an article about “The Sun of Africa”, a Fancy Vivid Yellow Diamond. It was a 127.68 carat in size, the second largest fancy Vivid Yellow in the World. That too was re-polished in order to better appeal in the market. The weight of it prior to the re-polish is not important, it was a loss of less than 3% of the weight, but the fact that it was upgraded in clarity to a VS2, it was already more appealing to the investor. The objective was to make it more sellable.
The Sun of Africa, a 127.68 carat, Fancy Vivid Yellow Diamond Image Courtesy: Private
Petra Diamonds wants their Fair share…
This is not the only time that Petra Diamonds sells a rough diamond with the condition of creating more potential revenue fro the eventual polishing of a diamond. In this case they sold the rough diamond for $27.4 million to the polisher with a 15% ownership retainer after the polished diamonds would sell, meaning Petra Diamonds will receive a further 15% beneficial payment on any value created above the $27.4 million sale.
If the “Cullinan Dream” sells for $29 million, Petra will get 15% of the increment value after expenses. Let’s not forget about the other polished stones that came out of the rough. There are 3 other important diamonds polished, and a few smaller ones as well. all together, Petra will eventually gain more.
Let’s see if the re-polishing is well worth it, and if the risk that Christie’s took to enlist the diamond will yield any value. After all, if the “Cullinan Dream” fails to sell, the negative impact will affect Christie’s, not the polisher. The polisher will most likely end up selling the diamond in any case. The appearing at the auction house and global fame, will only increase its value in a private transaction, similar to what happened with the Shirley Temple. It too, was sold a few hours after it “failed” to sell at auction.
Related Posts
- The Oppenheimer Blue Diamond Helps Christie’s Gain Edge
- Sotheby’s New York Auction Breaks One Last Record For The Year With Blue Diamonds
- Unique Blue Diamond Ring Will Sell Privately After Shown To The World By Bonham’s
- Christie’s Will Close The Auction Season With Significant New York Sale
- Dreams Can Come True – With the “Cullinan Dream Diamond”
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