Russian mining giant Alrosa announced it plans to make a rare collection of polished diamonds, including a massive 51.38-carat gem, available for an online auction in November.
According to the company, the giant round-cut diamond, which is equal in size to the visible part of a human eye, is part of the Dynasty polished diamonds collection.
The gem’s stellar quality makes it potentially the most expensive diamond produced in the history of the Russian jewelry industry, Alrosa said.
It took company specialists over 18 months to create the Dynasty collection, which comprises five polished diamonds cut from a 179-carat Romanovs rough diamond. The Massive stone was found in one of the company’s mines in the Yakutia region, in eastern Russia, in 2015.
The collection was dedicated to Peter the Great, who built the city of St. Petersburg, and the Romanov dynasty, which ruled Russia for 300 years.
“There was a good reason to choose the name for the collection, which is connected with Alrosa’s intention to revive the traditions and memory of renowned Russian jewelers, famous for their craftsmanship and filigree since Russia’s first cutting and polishing factory was founded by Peter the Great early in the 18th century,” the company said.
The 51.38-carat main attraction has a 57-facet traditional round brilliant cut with triple excellent cut, D color and VVS1 clarity. The other gemstones in the collection are a 16.67-carat round-cut diamond, a 5.05-carat oval diamond, a 1.73-carat pear-cut diamond, and a 1.39-carat diamond.
Reuters quoted Alrosa’s CEO Sergey Ivanov as saying the company plans to sell the five-diamond Dynasty collection as one set. Ivanov said he believes the collection would fetch no less than $10 million.
The decision to sell the diamonds via an online auction is in line with a broader marketing trend by the diamond industry.
The company said the Dynasty collection would be shown in Israel, Hong Kong and then in the United States this autumn before it hits the virtual auction block.
Alrosa is the world’s largest producer of rough diamonds in carat terms.