Dubai’s first diamond-manufacturing facility is to cut and polish the world’s most valuable rough diamond.
The facility – Almas – will focus on stones above $25,000 per carat, offering boiling, evaluation and polishing services to the local Dubai trade, Rapaport wrote.
“Among the first of those will be the 813-carat Constellation diamond, which Nemesis bought in partnership with Swiss jeweler de Grisogono in 2016 for $63.1 million. At $77,613 per carat, the stone ranks as the most expensive rough diamond ever sold.
The Constellation, which was displayed at the entrance to the factory during the inauguration, is expected to take 10 to 12 months to polish, with master cutters recruited from Antwerp to work at the factory.
Fawaz Gruosi, founder and creative director at de Grisogono, said work would soon begin on the Constellation now that another major piece — the Art of de Grisogono, Creation 1 — had been completed and was set to be sold at a Christie’s auction in November.
Creation 1 — an emerald-cut, 163-carat, D flawless diamond, cut and polished in New York from a 404-carat diamond — was the first in a series of high-end jewelry pieces that Nemesis and de Grisogono are working on together.” says Rapaport.