Rare Orange-Red Diamond Appears at Auction

RAPAPORT... Heritage Auctions has unveiled a 1.21-carat, fancy-orangey-red diamond that will go under the hammer at its Fall Fine Jewelry Signature auction on September 29. "This gem is one of only a few diamonds to display enough saturation and intensity to be graded as a true red," said Jill Burgum, Heritage Auctions' executive director of fine jewelry. "Adding to the allure, the cause of a red diamond's color remains a mystery to scientists, making this stone even more of a marvel."The stone has a presale estimate of $100,000 to $150,000.Other notable diamonds included in the sale are a 17.63-carat, fancy-intense-yellow diamond ring from the estate of Dallas philanthropist Mary Anne Sammons Cree, which is expected to fetch $300,000 to $400,000. More than 125 jewels from Cree's collection are up for sale, with the proceeds going to the Communities Foundation of Texas as well as Dallas-area nonprofits.Image: 1.21-carat fancy-orangey-red diamond. (Heritage Auctions)