The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Friday, 24th March 2006 (8907 views)

A gold necklace with a 40-carat rectangular diamond is to go under the hammer in Singapore this weekend.

The emerald cut diamond, which is set in an 18-carat gold necklace and laced with smaller diamonds, is expected to fetch up to $370,000, Bloomberg reports.

It is one of more than 200 pieces of jewellery to be sold at the auction, with other notable pieces including a 15-carat Colombian emerald and an Australian South Sea pearl necklace.

The sale is being organised by First State Auctions, Australia's largest jewellery auctioneer, whose director Ari Taibel said that the Asian city-state was a good location.

"Singapore is an ideal location for us to host the auction because of the presence of many affluent Singaporeans," he said.

Almost 50,000 people in Singapore had assets worth more than $1 million at the end of 2004 – a rise of 22 per cent on the previous year's figure.

The largest diamond ever to go up for sale at an auction was a 407.48-carat stone that was on offer in New York in 1988. It failed to sell, however, as bids did not meet the seller's expectations.

A carat is one-fifth of a gram.

 

« Back to Gold News stories