US$15.7m sale of diamond shows appetite for safe- haven assets among savvy investors, jeweller says
- A 102-carat white diamond described as ‘completely flawless’ was sold for HK$122 million to an unnamed bidder at a Sotheby’s online auction in Hong Kong
- The price is a bargain, says jeweller 77 Diamonds’ managing director, and shows the demand for alternative safe-haven assets at a time of economic uncertainty

An exceedingly rare 102-carat flawless white diamond sold for US$15.7 million at an online auction in Hong Kong on Monday evening.
“The buyer of this diamond has bagged a bargain,” said Tobias Kormind, managing director of online jeweller 77 Diamonds.
During a time of economic uncertainty, he said, “savvy investors are currently falling over themselves to acquire alternative safe haven assets like diamonds, property and gold”.

Only seven other white diamonds bigger than 100 carats and of the same quality have ever gone under the hammer.
The stone was sold without a reserve price, meaning the diamond went to the highest bidder and did not need to meet a minimum threshold, the first time in auction history that a diamond of this calibre has been offered that way.