This could be an out-of-this-world auction in more ways than one: The diamond going under the hammer is believed to have extraterrestrial origins, and the money used to buy it could have no tangible real-world existence!
And as a result, once again all eyes are trained on Dubai, as the rock, named Enigma, is put on display before its eventual auction in the UK.
According to Sotheby’s in Dubai, the 555.55-carat black diamond is expected to fetch more than £5 million.
The precious stone — world’s largest cut diamond — is expected to be auctioned openly for online bidding from February 3 to 9.
The rock was displayed for the first time in Dubai on Monday, January 17.
A space rock?
There are two theories on how the mysterious diamond, named Enigma, came to be on Earth: a meteorite impact or a collision of Earth with a “diamond-carrying” asteroid.
It can be dated between 2.6 billion and 3.8 billion years, and includes nitrogen and hydrogen, both abundant in interstellar space.
Black diamonds are also known as “carbonado”, and are usually found in Brazil and Central Africa.
Enigma was first classified as a type of diamond in 1841 by Portuguese prospectors in Brazil.
Carbon black diamonds are found in alluvial deposits and are difficult to locate.
Design and price
Enigma’s design is significant because it is based on the Middle Eastern emblem of the palm — also known as “khamsa,” “hamsa”, or “the five” — which represents protection and strength.
The “five” is also symbolic of the number five: The diamond is 555.55 carats in weight with exactly 55 facets.
It will be part of a “without price limit” auction, meaning whoever offers the highest proposed price at the event will win it, regardless of its actual value or the diamond’s intrinsic value.
Sotheby’s expects it to sell for £5 million ($6.8 million) when it goes on auction in London in February after being delivered.
According to Sotheby’s Jewelry USA, a natural-sided black diamond of this size is “very unusual.”
The Key 10138 Diamond
Sotheby’s also said this auction follows the sale of a 101-carat diamond called the Key 10138, which became the most expensive gem ever sold in cryptocurrency last year.
The diamond was sold in Hong Kong for $12.3 million, with the amount paid in cryptocurrency.
The diamond achieved two records.
One was its price, which was recorded as the highest price for a green diamond sold at auctions in history.
The second was the carat price at which it was sold.