Red Cross Diamond hoped to fetch $10.7 million at auction

The sellers say a “significant” part of the proceeds will be donated to the International Red Cross.

The stone – a fancy yellow cushion-shaped diamond – is considered one of the largest in the world, was mined in 1901 by DeBeers in South Africa and originally weighed around 375-carats.

Red Cross diamond is designed as a distinctive pavilion forming a Maltese cross and will be auctioned for the third time since it was unearthed around 100 years ago.

François Curiel, chairman of Christie’s Europe, told Forbes supporting the Red Cross is “even more poignant in the midst of current events” citing the ongoing conflict between Russia and Ukraine.

“Part of the proceeds of the sale will benefit the International Committee of the Red Cross, for a cause that is even more poignant in the midst of current events,” he said.

The diamond received its name after it was first auctioned in 1918 for the benefit of the British Red Cross Society and the order of St. John which uses the symbol of the Maltese Cross.

It was first sold for £GBP 10,000 ($AUD17,583) to London jeweller SJ Phillips and auctioned for the second time in 1973 for CHF1.8 million ($AUD2.57 million) in Geneva.

Additionally, a 228.31-carat pear-shaped white diamond, dubbed ‘The Rock’, is expected to fetch around $US30 million ($AU40.50 million) at Christie’s Luxury Week tender together with the “Red Cross Diamond”.

The Rock is considered to be the largest polished white diamond ever to hit the auction block and is expected to break the record for the largest auctioned white diamond held by a 163.41-carat stone sold by Christie’s Geneva in 2017.

The Red Cross Diamond

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