WORLD


Giant 205-carat ‘Red Cross Diamond’ to be sold, with some of proceeds going to namesake aid group

Baku, April 13, AZERTAC

One of the world’s largest diamonds is going up for auction next month, with a portion of proceeds from the sale set to go to the International Committee of the Red Cross, the world’s largest humanitarian organization, which it has been associated with for more than 100 years, according to Forbes.

The rough stone is believed to have been mined by De Beers in South Africa in 1901, and to have originally weighed about 375 carats, according to Christie’s, the auction house that is selling the diamond for the third time in about 100 years.

London antique dealer S.J. Phillips purchased it for £10,000, or more than $780,000 today.

At one point, the gem was reportedly purchased by a member of a European royal family, but when it appeared at auction again at Christie’s Geneva in 1973, it was sold by an American businessman for about CHF 1.8 million, or about $4.3 million today.

The auction will be held May 11 in Geneva and Christie’s told Forbes a “significant” cut of the proceeds will be donated to the International Red Cross.

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