Entries in Diamond (3)


Paintings and Rare Diamond Sell at Auction for Millions

FABRICE COFFRINI/AFP/Getty Images(NEW YORK) -- You may still be counting pennies while the economy slowly recovers, but some folks are confident enough to spend millions on fine art and diamonds.  

A painting by abstract artist Mark Rothko was sold at auction Tuesday at Sotheby’s in New York City for $75.1 million dollars.

Rothko’s "No. 1 (Royal Red and Blue)" from 1954 was sold to a telephone bidder for $67 million -- $75.1 million with Sotheby’s fees.  Earlier in the evening at the same auction, a Jackson Pollock painting sold for more than $40 million.

Meanwhile, across the pond in Europe, a 76-carat colorless diamond was sold at Christie’s in Geneva Tuesday for more than $21.5 million, including commission.  

The price paid for the Archduke Joseph Diamond was more than triple the price paid for it at auction almost two decades ago.  Christie’s says the sale set a record price per carat for a colorless diamond.

The diamond came from a mine in India and was named after Archduke Joseph August of Austria.  The buyer wished to remain anonymous.

Copyright 2012 ABC News Radio


Get Rich Quick: Arkansas Park Yields 3.86 Carat Diamond

Jeffrey Hamilton/Thinkstock(MURFREESBORO, Ark.) -- Most people are happy to return from a day at the park with a tan, maybe a few pinecones. How much nicer, though, to make the return trip with a giant diamond in your pocket.

A regular visitor to the Crater of Diamonds State Park in Murfreesboro, Ark., did just that this week: sifting through the park dirt, he unearthed a 3.86-carat jewel.

"It's the largest diamond in just about a year," said park guide and educator Waymon Cox. "'Diamond in the rough' is a bit of a misnomer. We have many beautiful rough diamonds that can be used in jewelry."

The Crater of Diamonds is the only one of its kind in the country, said Cox: a 37.5 acre state park on the site of an ancient volcanic pipe that, 95 million years ago, brought thousands of diamonds and semi-precious stones to the Earth's surface. The park is open to the public -- anyone can go home substantially wealthier than when they arrived.

The local man who found the diamond this week has chosen to remain anonymous, but Cox characterized his find as having the "potential to be substantially more valuable" than a 2-carat diamond found three years ago. That diamond was cut and appraised for $22,000.

The new diamond is about the size of a piece of candy corn and has been dubbed "The Heart of Arkansas" for its heart shape.

The largest diamond ever found in the park -- or, for that matter, in the entire country -- was a whopping 40.23 carats. It was named "The Uncle Sam" after the commercial miner who dug it up in 1924. It was cut down to a 12.5 carat emerald-shaped stone and valued at more than half a million dollars.

Another park find, the "Strawn-Wagner diamond", has been certified as the world's only perfect diamond by the American Gem Society. It was unearthed in 1990.

The "Heart of Arkansas."

Cox told ABC News that after every well publicized find, like the Heart of Arkansas, park attendance -- which hovers between 100,000 and 120,000 annually -- will spike for a while. The park will usually yield five to seven large diamonds in any given year.

"We've found numerous diamonds here," said the park's gift shop manager, Debbie Wright. "You just come on down."

Copyright 2011 ABC News Radio


British Designer Offers $8 Million iPhone

Photo Courtesy - Stuart Hughes(LIVERPOOL, England) -- British jeweler Stuart Hughes, famous for his diamond-encrusted technology, has announced the latest addition to his collection: an $8 million iPhone 4.

Calling it the "most expensive phone," his website says the phone's bezel includes about 500 flawless diamonds, which total more than 100 carats.

"There is always a market for the loaded," Hughes tells ABC News Radio in an email.

The back of the phone is made from rose gold and includes an Apple logo fashioned from 53 additional diamonds.

But if you want one, you'd better hurry. The limited edition run has only two luxury phones.

Copyright 2010 ABC News Radio

ABC News Radio