An exceptionally rare 14.82 carat orange diamond, the largest known gem of its kind, has fetched a record $35.5 million — more than double its pre-sale estimate — at an auction in Geneva.

THE ORANGE, the largest fancy, vivid orange diamond ever offered at an auction, sold for a whopping $ 35,540,612 at Christie’s Geneva, setting a world record price per carat for any diamond sold at auction.

The diamond, weighing 14.82 carats, also set a world record price for an orange diamond, Christie’s said.

Pure orange diamonds, also named “Fire diamonds” by famous gemologist Edwin Streeter in his book ‘The Great Diamonds of the World’ (1882), are exceptionally rare in nature. The Gemological Institute of America (GIA) has handed the deep orange gemstone, which was found in South Africa, the top rating for coloured diamonds: “fancy vivid.”

Among the very few fancy vivid orange diamonds that were ever sold at auction, the largest was less than 6 carats, making ‘THE ORANGE’ diamond the ultimate possession for diamond collectors.

The spectacular diamond entered the auction with a pre-sale estimate of USD 17,000,000.

“Time and again, a stone will appear on the market that is truly a miracle of nature. The 14.82ct orange diamond is one such a stone, a rare gem, which will perhaps only be seen once in a lifetime,” Francois Curiel, International Head of Christie’s Jewellery Department, said.

“In the sale on Tuesday, it soared far above all previous records for any orange diamond ever sold at auction, placing The Orange amongst the greatest pinks and blues, which are traditionally the most appreciated coloured diamonds,” said Mr Curiel.

Christie’s Magnificent Jewels auction fetched a record total result of USD 125,360,131.

The exceptional jewels formerly part of the collection of Simon Itturi Patino, known as ‘The Andean Rockefeller’, sold well above their pre-sale estimates totalling USD 14.7 million.

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