Emerald worth R$1 billion sells for R$50 million in Bahia

An Arab group purchased the stone, found in the Bahia municipality of Pindobaçu

A giant emerald weighing 69kg, initially appraised R$ 1 billionit sold at auction for just 5% of its estimated value: R$50 million. An Arab group purchased the stone, found in the municipality of Pindobaçu, in Bahia.

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The auction was held on Wednesday the 11th, around 11 am, in Salvador. The starting bid was set at R$100 millionbut no one was interested, so much so that the precious stone was sold for half the agreed price.

Measuring 60cm high and 20cm wide, the stone has an intense mossy green tone and remains in its raw, uncut state. The cutting procedure is performed to transform the gemstone into a jewel.

Experts say this rough format contributes to its uniqueness, attracting international collectors and investors interested in its appreciation potential.

The stone was authenticated and graded by a gemologist accredited by the Gemological Institute of America (GIA) on November 23 last year.

Source: Terra

Rose

Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.