Australia’s largest diamond ring is sold at auction

Australia’s largest diamond ring was auctioned off in Sydney for a record $965,000, 9News reported April 21.

Australia’s biggest diamond was bought for a record 1.25 million Australian dollars ($965,200).

The 25-carat square-shaped stone was cut from a rough diamond weighing 47.961 carats. According to the newspaper, the diamond, which was mined in the Canadian tundra, was valued at up to AU$1.2 million.

It also reported that the sale broke the previous Australian record, also recorded in Sydney in 2020, when a ring with a diamond of 17.34 carats was sold at Leonard Joel Auction for A$575,000 ($444,000).

In May 2019, a 75.61-carat emerald from Catherine the Great’s treasury sold for $4.3 million at Christie’s auction. The emerald had been in the Tsar’s treasury for over 100 years before Alexander II gave it as a wedding gift to Grand Duchess Maria Pavlovna, née Princess Mecklenburg-Schwerin.

In November 2019, auction house Christie’s also reported the sale of a 7.03-carat, deep blue diamond ring for more than $11 million.