A diamond with a long history of charitable causes is once again up for auction.
Christie's offers the 205.07-carat, cushion-cut diamond of a fancy bright yellow color, dubbed the “Red Cross Diamond” at the Magnificent Jewels sale in Geneva on May 11.
Part of the proceeds from the sale of the stone will be donated to the International Committee of the Red Cross and it will not be the first time.
The history of the stone begins in 1901, when the rough diamond was recovered by De Beers in South Africa. It weighed 375 carats.
After being cut and polished, it weighed 205 carats and had the bottom in the shape of a Maltese cross.
During World War I, the Diamond Syndicate (the forerunner of De Beers’ Diamond Trading Co., better known as DTC) offered the stone for sale to Christie's in London. The offer was to help the British Red Cross Society and the Order of St. John, in a charity auction called the “Red Cross Auction”.
The famous London jeweller S.J. Phillips bought the stone. In total, that auction raised £50,000. The cast amount is equivalent to 3 million pounds sterling or 3.94 million dollars today.
The Diamond of the Golden Cross was auctioned again in November 1973 at Christie's in Geneva. It was sold to a private buyer for 1.8 million Swiss francs, or about 1.9 million dollars.
This year's auction of the stone will mark the third time Christie's has offered the “Golden Cross Diamond” in 104 years.
Christie's Europe President and Head of the Luxury Department François Curiel said: “The auction will take place as part of the competition. This is the third time in more than 100 years that Christie's has presented this exceptional 205.07 carat canary yellow diamond.”.
“This is a very special bond and a huge honour. Part of the proceeds from the sale will be donated to the International Committee of the Red Cross. It will be given to a cause that is even more poignant in the midst of today's events.”.
Christie's said the stone is expected to sell for 7 to 10 million Swiss francs. That's about 7.5 to 10.7 million dollars.
The auction house refused to disclose the exact percentage of the sale price that would benefit the Red Cross. But it said it would be “significant”.
Christie's relationship with the Red Cross goes beyond The Red Cross Diamond.
During the First World War, Christie's auctioned 40 necklaces. These had been created from pearls donated to the Red Cross. It also held a sale to benefit the organization during World War II.
In 2018, Christie's made a donation to the Red Cross to help with relief efforts from the California wildfires. In 2020 he donated 500 of his online courses to raise money for the British Red Cross.
The Red Cross diamond will be on display in New York. It will be on display at Christie's headquarters at 20 Rockefeller Plaza from 29 April to 1 May.
It will also be exhibited in Geneva at the Four Seasons Hotel des Bergues, where it will be on display from 6 to 11 May, the date of the auction.
