Largest cut faceted emerald auctions in Canada with CA$1.15m ‘low’ estimate

paulfrasercollectibles

2015-06-26 12:42:40

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Largest cut faceted emerald auctions in Canada with CA$1.15m ‘low’ estimate

Largest cut faceted emerald auctions in Canada with CA$1.15m low estimate

Named Teodora, or gift of God, the worlds largest cut faceted emerald sells in Canada this month

It's the world's largest cut faceted emerald and is set to auction in Kelowna, British Columbia, Canada, later this month. The rare jewel weighs 57,500 carats roughly 11 kilograms.

"The emerald's name is Teodora, which means 'gift of God' in [Portuguese]," said owner Regan Reaney as quoted by the Toronto Sun newspaper.

Mr Reaney acquired the gemstone along with an investment partner after the rare jewel was discovered down a mine in Brazil.

According to Reaney, the stone was then sent to India and cut before it wound-up in Canada.

The world's largest cut faceted emerald made headlines in Canada, earlier this week, when it was transported to Calgary to be appraised by a local jewel expert.

worlds largest cut faceted emeraldThe world's largest cut faceted emerald - valued at CA$1.15m

The 57,500 carat emerald's value is estimated at CA$1.15m - although experts think this could be a conservative figure.

"It's super rare," said Reaney. "It's almost... priceless because [of] the size of it."

According to early reports, the rare emerald has already attracted open tender bids from collectors around the world - from Houston, Texas, to Dubai and elsewhere.

Given the immense values which rare gems have attracted at auction in recent times - like the vivid yellow diamond which sold for $6.6m at a rate of $203,000 per carat last year - this sale is certainly one to watch.

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