NEW YORK, NY.- Earlier today, Sotheby’s sold an exceptional 50.03 carat round diamond for $2.7 million – marking a new record for a jewel sold in an online auction. Offered without reserve, the diamond attracted fierce competition from the moment online bidding opened on 9 June, receiving a total of 30 bids, from 11 individual bidders across 7 countries. Estimated at $2.5 – 5 million, the 50.03 carat G Color diamond was the highest valued jewel ever offered in an online sale and only the fifth round diamond of over 50 carats to be offered at auction in the past 15 years.

Speaking after the sale, Quig Bruning, Head of Sotheby’s Jewelry Department in New York, commented: ‘It’s no surprise that, as the rarest object of natural beauty on the market, this 50+ carat diamond was viewed by dozens of bidders to be the ultimate acquisition. Indeed, this exceptional work of nature is only the fifth round diamond of over 50 carats to be offered at auction in the past 15 years. Despite the challenges over the last fifteen months, the market has proven to be incredibly resilient, and Sotheby’s has used the very latest digital technologies to meet the growing global demand. We are so grateful to the consignor for their trust and confidence in allowing us to offer this exceptional stone without reserve – the result of which sends a powerful and positive message that online sales represent a key part of our worldwide strategy and the white diamond market is robust.”

Sotheby’s has been at the forefront of selling notable white diamonds of impressive size and superb quality. The appearance of the 50.03 carat diamond follows last year’s landmark sale of the ‘Maiko Star’ – a highly important 102.39-carat D Color Flawless Oval Diamond – that sold for $15,694,870 in Hong Kong, which was the first world-class diamond ever to be auctioned without reserve. Today’s sale also affirms the strong results for white diamonds more broadly, as 80% of the white diamonds offered in our Magnificent Jewels auctions since January have sold.

Further, the sale marks the increased importance of online luxury sales at all levels of the market, including high-value luxury. The 50.03 Carat Diamond follows Sotheby’s groundbreaking sale last year of the Gem-Set, Diamond and Enamel ‘Tutti-Frutti’ by Cartier, which set the record for a jewel sold online at the time with $1.34 million.