Glittering prize ... if you’ve US$55m to spare
Print Edition
For someone with US$55 million to spare on an egg-sized diamond, the world’s most expensive necklace is on sale this month at a jewelry show in Singapore, reflecting Asia’s growing appetite for precious gems and expensive baubles.
Known as “L’Incomparable,” the necklace created by luxury jeweller Mouawad features a yellow, internally flawless diamond of more than 407 carats suspended from a rose gold setting studded with 90 white diamonds weighing nearly 230 carats.
“Serious interest” has been expressed by a couple of potential buyers from Asia, said Jean Nasr, managing director of Mouawad in Singapore, declining to identify their nationalities.
“People who will get something like this are looking at it from a different perspective because this is definitely an investment piece,” he said.
The necklace, whose centerpiece diamond was found by chance in a pile of mining rubble by a young girl in the Democratic Republic of Congo about 30 years ago, will be the flashiest item on offer at the Singapore JewelFest between October 11-20. There will be plenty other glitz from American, European and Asian designers worth another US$200 million.
Security includes armed guards, plainclothes supervisors, cameras, motion detectors and bullet-proof display cases but the most critical time is when the pieces are shown to customers.
“This is the moment that the stones are under risk because they can be passed hand-by-hand, they can be exchanged,” said Filippo Melchionni, in charge of guarding L’Incomparable and the rest of the jewelry on show.
Singapore, which has the world’s highest concentration of millionaires, has positioned itself as a destination for the ultra-rich with a busy wealth management industry, luxury properties, top hotels, gourmet restaurants, high-end boutiques and two casinos.
Asia, especially China, has become an important and resilient growth area for sellers of pricey jewelry, cars, boats, wine, artwork and other lavish items.
(Reuters)
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