Yellow diamond weighing over 300 carats to be auctioned in New York — and bidding starts at €1

The Golden Canary, a 303.10 carat Fancy Deep Brownish-Yellow Diamond to be auctioned by Sotheby's in New York on Dec 7. Picture: Cedric Ribeiro

From Princess Diana to Jennifer Lopez, coloured diamonds make up some of the most recognisable engagement rings and this year, they are continuing to make history with a landmark gem, the Golden Canary, going up for auction.

Weighing a massive 303.10 carats, the Golden Canary is one of the largest polished diamonds in the world. A deep brownish yellow colour, the striking diamond was recut from its original shield shape into a classic pear shape and is brighter and more colourful than ever.

While we frequently see other coloured diamonds, such as blue, pink and green, yellow diamonds are significantly rarer and make up just .006% of all diamonds mined.

The Golden Canary is also the largest flawless or internally flawless diamond ever graded by the Gemological Institute of America (GIA) and has an interesting history.

The magnificent gem is set to be part of Sotheby’s auction in New York this December, with an estimate in the region of $15 million, with bidding starting at just $1 (€1).

The Golden Canary, a 303.10 carat. Piture: Cedric Ribeiro

The stone was originally found amongst a pile of rubble by a young girl who was playing in her uncle’s backyard in the 1980s. At the time, miners concluded it was too bulky to be a diamond, however, it turned out to be 890-carat rough diamond — one of the largest rough diamonds the world had ever seen.

The girl gave the diamond to her uncle who then sold it to local diamond dealers and it was first presented to the public in 1984 at the Smithsonian’s National Museum of Natural History.

Over the next couple of years, the 890-carat gem was cut into 15 finished stones including what became known as the 'Incomparable'. After numerous appearances in museum exhibitions across the world, the 'Incomparable' was again recut into what is now known as the Golden Canary.

Quig Bruning, Head of Jewelry for Sotheby’s Americas describes the Golden Canary as one of the most exquisite diamonds to ever be discovered, "not only for its sheer size and intensity in colour, but for its stunning beauty that is sure to captivate collectors around the world". 

The Golden Canary is set to highlight Sotheby’s Magnificent Jewels auction in New York on December 7, with an estimate in the region of $15 million, and offered without reserve, with bidding starting at $1 (€1).