Webb's to make history with most expensive piece of jewellery to come to auction in New Zealand

Webb's photos of 7-carat diamond to be auctioned
"This breath-taking masterpiece is, without a doubt, a once-in-a-lifetime opportunity for collectors and luxury connoisseurs alike." Photo credit: Supplied

Webb's auction house has unveiled the most expensive piece of jewellery to be auctioned in New Zealand history: an enormous solitaire diamond ring with a staggering retail value of $500,000.   

It's estimated the seven-carat sparkler will fetch between $270,000 and $350,000, Webb's confirmed to Newshub on Wednesday.   

The ring, hailed as a "truly extraordinary masterpiece in the world of fine jewellery", can be viewed ahead of the Fine Jewels, Watches & Luxury Accessories live auction, which takes place on Sunday, September 24 at 2:30pm, the auction house said.  

"This breath-taking masterpiece is, without a doubt, a once-in-a-lifetime opportunity for collectors and luxury connoisseurs alike. To put it into perspective, this is the largest diamond ever to grace Webb's auction rooms, making it an undisputed highlight in a year of standout sales," Christine Power, Webb's head of fine jewels, watches and luxury accessories, said in a statement.  

"This diamond is not just large; it's the largest diamond ever seen at Webb's, and its rarity and quality make it a true collector's dream. We have already had serious enquiries and are anticipating keen interest from New Zealanders as well as international bidders."   

Nestled within a platinum three-claw, double-bezel setting on a tapered shank, the pear-shaped natural diamond boasts an E-colour grade and SI1 [slightly included] clarity, promising unrivalled brilliance and precision in every facet, Webb's said.   

The point of the diamond is secured in corner claws, while the remaining two claws exhibit a rounded profile, adding a touch of character to the piece.   

The ring was purchased in 1999 by the vendor's mother, who sourced it from a jeweller in the United Kingdom. It has remained within the family since then, carefully preserved and brought out only for special occasions.

It is accompanied by a 1999 Gemmologist Report and number testifying to its heritage and craftsmanship. In addition, a 2023 Gemmologist report is provided, ensuring the continued assurance of its quality and value.   

"This piece represents a rare and unmissable opportunity. It is not just a piece of jewellery, but a work of art. A statement piece that transcends generations and trends, and speaks volumes about the discerning taste of its future owner," Power added.