Diamond Necklace With $55M Price Tag Going on Sale in Singapore

(IDEX Online News) – The world's largest diamond necklace will be on sale at Singapore's JewelFest show later this month but with an estimated price of $55 million buyers are likely to be few and far between.

The jewelry, known as L'Incomparable, features a large yellow stone often called 'The Golden Giant' suspended from a rose gold setting with 90 white diamonds and weighs 637 carats in total.

The necklace was made by luxury jeweler Mouawad features a yellow, internally flawless diamond weighing 407 carats with 90 white diamonds weighing nearly 230 carats.

The rough stone is reported to have been found, ironically, in a pile of mining tailings by a young girl in the Democratic Republic of Congo.

The venue for the sale, at the October 11-20 trade show, reflects the growing demand in Asia for extraordinary diamonds.

"Serious interest" has been expressed by a couple of potential buyers from Asia, said Jean Nasr, managing director of Mouawad in Singapore, who declined 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 told Reuters.

There will be a large range of other diamond jewelry on sale at the show from American, European and Asian designers, with an estimated value of $200 million.

Singapore has the world's highest concentration of millionaires, and is known as a destination for the ultra-affluent, with a large wealth management industry, luxury properties, top hotels, gourmet restaurants, high-end boutiques and two casinos.

L'Incomparable was completed last year and was declared the most expensive necklace in existence by Guinness World Records earlier this year.