L’Incomparable, officially recognized by the Guinness World Records earlier this year as the most expensive necklace in the world, will be on sale at a jewelry show in Singapore later this month. Priced at $55 million it boasts of 637 carat of diamonds. The center piece of the necklace is a yellow, internally flawless diamond of over 407 carats. The egg sized diamond is suspended from a rose gold setting that is studded with 90 white diamonds weighing nearly 230 carats. The most expensive necklace has been designed and produced by luxury jeweler Mouawad. Their Managing Director at Singapore was showcasing the exclusive piece prior to the show. He pointed out that the expensive piece of jewelry was being perceived as an investment opportunity and a couple of potential buyers had already expressed serious interest.
There Will be Elaborate Security Arrangement for the Show
The Singapore JewelFest is being held between October 11 and 20. Apart from L’Incomparable there will be many other fine pieces of jewelry by American, European and Asian designers. Singapore has become the ideal location for a high end jewelry show as the city state has the world’s highest concentration of millionaires. Its strict administration ensures that the tiny and prosperous nation is crime free but the organizers are not taking any chances and have put in place an elaborate security arrangement. The jewelry show will be held at a pavilion outside an upscale mall. Earlier this year in July a daylight heist of about $136 million worth of jewelry on show at a hotel in the French Riviera resort of Cannes was reported.
China Has Emerged as the Largest Market for Diamonds After US
This is the 11th edition of the JewelFest in Singapore. The number of Chinese buyers is increasing every year but many locals and visitors from Indonesia, Malaysia, Thailand, Vietnam, Cambodia and Russia are expected. Kean Ng, chairman of the Singapore JewelFest believes that China has grown into the most important market for diamonds and jewelry after the US. In fact the growing demand from China has helped boost the sales of most of the luxury jewelers including Tiffany & Co. It is quite likely that the most expensive necklace will also be picked up by a buyer from China.