‘Mediterranean Blue Diamond' could fetch $20m at auction
The cushion-shaped piece, known as the "Mediterranean Blue Diamond", was mined at Cullinan in SA and displayed a rare colour that qualified as fancy vivid blue, Sotheby's said.
"The market for coloured diamonds continues to go from strength to strength," said Jessica Wyndham of Sotheby's, adding she expected a price in the region of $2m.
In 2016, another vivid blue diamond sold for 56.8 million Swiss francs (R1.2-trillion) at a Christie's auction in Geneva.
Sotheby's high jewellery collection, which includes other coloured gemstones, was presented to journalists in Geneva ahead of a live auction scheduled for May 13 at the Mandarin Oriental Hotel.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
2 days ago
- IOL News
Davos founder Schwab cleared of misconduct by WEF probe
World Economic Forum founder and chairman Klaus Schwab. Image: AFP An investigation conducted by the World Economic Forum's board on Friday cleared the body's founder Klaus Schwab and his wife of wrongdoing, after a probe into whistleblower complaints. "Following a thorough review of all facts, the Board has concluded that ... there is no evidence of material wrongdoing by Klaus Schwab," the board announced. In April, the Wall Street Journal reported that an anonymous letter sent to the prestigious institution's board of directors accused Schwab and his wife Hilde of mixing their personal affairs with Forum resources without proper oversight. A spokesperson for Schwab had immediately denied all these accusations, but the 87-year-old said he would step down as head of the WEF. The board of the WEF, best known for its annual summit for political and business elites in the luxury Swiss ski resort of Davos, asked a law firm to carry out an independent probe of the allegations. "Minor irregularities, stemming from blurred lines between personal contributions and Forum operations, reflect deep commitment rather than intent of misconduct," the statement said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading "The Board has taken action to address all issues identified throughout the investigation, including strengthening the governance in general." Also on Friday, the WEF said it will be replacing former Nestle CEO Peter Brabeck-Letmathe as interim chairman of the board. He is being replaced by the billionaire duo of Larry Finck, the American co-founder of the investment fund Blackrock, and Andre Hoffmann, the Swiss vice-chairman of the pharmaceutical group Roche, according to a separate statement. The letter alleged Schwab had asked junior employees to withdraw "thousands of dollars" from ATMs for him and used organisation funds to pay for massages during hotel stays. But the probe found nothing improper in his conduct. Schwab was born in Ravensburg, Germany, on March 30, 1938. He was married with two children. He was a professor of business management at the University of Geneva, where he taught until 2003, when in the early 1970s he launched the "European Management Forum," the precursor to the current Forum. He expanded it by inviting American business leaders, successfully building a huge network of the world's economic and political elite, transforming the event into a major high-level international gathering dedicated to business relations and the exchange of ideas. The Forum's success has led to the satirical concept of "Davos Man", the supposed avatar of a globalised elite of the stateless ultra-rich committed to free trade and high-minded seminars on corporate social responsibility. Like other international organisations, the WEF has spurred conspiracy theories alleging that it was seeking to establish a "new world order". Elon Musk, the world's richest man and once an influential member of US President Donald Trump's inner circle, accused Schwab on his social media platform X of wanting to "be the emperor of the Earth. AFP
TimesLIVE
4 days ago
- TimesLIVE
AI 'embedded across every layer' of Saudi Arabia's sovereign wealth fund
Saudi Arabia's nearly $1-trillion (R17.56bn) sovereign wealth fund said on Wednesday artificial intelligence (AI) and automation have become embedded across 'every layer' of its operation, reshaping not only what it invests in but how it invests. The shift reflects a broader national ambition to integrate advanced technologies into the heart of the Saudi economy and to redefine the region's financial future not through oil but through algorithms. In its 2024 annual report, the Public Investment Fund (PIF) described AI as a catalyst that is fundamentally altering the way the state fund makes decisions, allocates capital and evaluates value. The report said the fund's assets under management totalled 3.424-trillion riyals (R16.02-trillion) at the end of 2024, lower than the 4.321-trillion riyals (R20.22-trillion) reported in June, with the change reflecting the use of different accounting standards. The PIF said it had implemented an AI-powered valuation platform to bring greater precision and speed to private market investment assessments. It has also developed a large language model for real-time investment reporting and is using AI tools for asset manager analysis and portfolio optimisation.
TimesLIVE
5 days ago
- TimesLIVE
Pentagon Golden Dome to have 4-layer defence system, slides show
The Trump administration's flagship Golden Dome missile defence system will include four layers — one satellite-based and three on land — with 11 short-range batteries across the continental US, Alaska and Hawaii, according to a US government slide presentation on the project. The slides, tagged 'Go Fast, Think Big!', were presented to 3,000 defence contractors in Huntsville, Alabama, last week and reveal the unprecedented complexity of the system, which faces an ambitious 2028 deadline set by US President Donald Trump. The system is estimated to cost $175bn (R3.06-trillion), but the slides show uncertainties loom over the basic architecture of the project because the number of launchers, interceptors, ground stations and missile sites needed for the system has yet to be determined. 'They have a lot of money, but they don't have a target of what it costs yet,' said one US official. So far Congress has appropriated $25bn (R437.69bn) for Golden Dome in Trump's tax-and-spend bill passed in July. Another $45.3bn (R793.09bn) is earmarked for Golden Dome in his 2026 presidential budget request. Intended as a multilayered missile defence shield for the US, Golden Dome draws inspiration from Israel's Iron Dome, but is significantly bigger due to the geography it will need to protect and the complexity due to the varied threats it will face.
