Largest ever 3.15 carat coloured diamond set to be auctioned

Having been described as “to die for” and billed as one of the very few red diamonds larger than one carat in existence, the diamond is sure to create a stir as it’s the largest reddish-orange diamond ever graded at the Gemological Institute of America.

The diamond’s status is derived from its intense colour and large size. Highly saturated diamonds in shades of red and orange are considered to be among the rarest of all fancy coloured diamonds.

Some of its allure is also because of the mystery surrounding its creation: the colourisation is believed to occur when minute quantities of nitrogen or hydrogen are present during the formation of the diamond’s crystal lattice.

2012 has proved to be a great year for diamonds, according to Rahul Kadakia, head of jewellery for Christie’s Americas and Switzerland, who said: “Since the start of 2012, this has proven to be a vibrant year of strong prices for top-quality diamonds, coloured gemstones, natural pearls, and signed jewels at auction.”

The historic D-colour Archduke Joseph Diamond fetched £13 million at auction in November, setting a new world record for a colourless diamond.

It also set a new record per-carat price for a colourless diamond, at £176,000 per carat, surpassing the landmark £166,000 per carat price achieved for the 33.19 carat, D-color Elizabeth Taylor Diamond, sold at Christie’s in December last year.