'Aurora Green' Sells for $16.8 Million, Obliterates Two Records at Christie's Hong Kong

Aurora is now the undisputed "Queen of Green."

The 5.03-carat "Aurora Green," the largest and finest fancy vivid green diamond ever offered at auction, was scooped up by mega-retailer Chow Tai Fook Jewellery for $16.8 million at Christie's Hong Kong on Tuesday.

The hammer price was on the lower end of Christie's pre-sale estimate of $16.2 million to $20.1 million, but the gem's performance still obliterated two auction records. It was the highest price ever paid for a green diamond and the highest per-carat price ever achieved by a green diamond ($3.34 million).

The previous records for a green diamond were held by “The Ocean Dream,” a 5.5-carat fancy vivid blue-green diamond that yielded $8.6 million ($1.5 million per carat) at Christie's Geneva in 2014.

The rectangular-cut Aurora Green boasts a color that is rarely seen in the world of colored diamonds. Green diamonds are unique because they owe their color to their exposure to natural radiation as they were forming in the earth eons ago. Many a gemologist has gone a whole career without having handled a fancy vivid green diamond, no less one of 5-plus carats.

The Gemological Institute of America (GIA) included with its grading report a special note stating that the Aurora Green is the "largest fancy vivid green, natural color diamond GIA has graded as of 20 January 2016."

Because of this extreme rarity, gem experts speculated whether the Aurora Green might challenge the all-time price-per-carat record held by the “Blue Moon of Josephine,” a 12.03-carat vivid blue diamond that sold in November 2015 for $48.5 million, or $4.03 million per carat. If the Aurora Green had sold at the top of Christie's pre-sale estimate, the price per carat would have been close to $4 million.

The Aurora Green diamond was presented in a pink diamond halo setting. The GIA described the gem as a “cut-cornered rectangular modified brilliant” with a clarity of VS2.

There is a significant difference in the value of a green diamond rated "fancy vivid" vs. one rated "fancy intense." For instance, back in May of 2014, a 6.13-carat fancy intense green diamond (see above) was sold at Christie’s Hong Kong for $3.6 million, or $594,510 per carat. That's about 18% of the per-carat value of the Aurora Green. It's easy to see the deeper, more saturated color of the record-breaking stone.