You can now see the 552-carat diamond at Phillips Auction House.
New York City’s contribution to the diamond market is nothing short of impressive; for anyone who’s walked through the Diamond District, you’ll know what I’m talking about. The world of precious stones in New York is unlike anything else. Some could say it’s shady but with more than 4,000 jewelers and wholesalers scattered through the Diamond District alone, NYC is considered a global hub for diamond sales.
This past December, the largest diamond to be unearthed in North America was mined in Canada. The stone, which weighs in at 552 carats and is yellow in color is now on display at Phillips Auction House on Park Avenue.
Diamonds are evaluated by four main characteristics- or the 4 Cs of Diamond Quality: carat (size and weight), color, clarity, and cut. This particular rock is considered so rare due to its enormous shape and unique yellow coloring. Apparently, most of the diamonds that are found today were delivered to the Earth’s surface between 2.5 billion and 20 million years ago. The appearance of the “552” diamond (as it’s been named) in the City is quite important. “The 552 is noteworthy because of its size, which is now ranked 25th on the list of the world’s largest rough diamonds,” says Susan Abeles, the Senior International Specialist and Head of Jewels at Phillips. It’s not every day that a diamond this massive makes it out of the mining process intact.
According to Jim Pounds, the executive vice-president of diamonds for the company that mined the stone, Dominion Diamonds, the extraction of this baby is nothing short of a miracle. “It’s one of those rare things…A stone of that size and that dimension invariably gets damaged during the process of liberation of diamonds — which is a crushing process,” he said in a statement.
The gemstone is still in its rough, uncut phase. The final appraisal of the diamond will be made once it is cut and polished but according to Pounds, the “natural chicken-egg shape could lend well to a 150-carat, oval, yellow colored gem.”
The diamond will be on display this weekend only, so gemologists, don’t miss your chance to swing by to catch a glimpse of this natural wonder.
Address: 450 Park Avenue
Hours: Friday-Saturday 10 am-6 pm, Sunday 10 am-6 pm
If all this talk about diamonds has you thinking about popping the question, you might want to check out our suggestions for 10 unique things to do with your beau this Valentine’s Day.
Featured image: Dominion Diamond Mines