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Canadian Auction House to sell World’s Largest Emerald

On January 28, 2012 an emerald weighing 57,500 carats (over 25lbs) will head to the auction block.  The

Teodora, the world’s largest emerald, will be sold at auction on Jan. 28 by Western Star Auctions in Kelowna, B.C. Purchased in India by a Calgary gem hunter, the stone has been appraised at $1.15 million. (Western Star Auctions)

behemoth stone, known as “Teodora” (Portuguese for “gift of God”) will be sold by Western Star Auctions, in Kelowna, B.C. The emerald was reportedly mined in Brazil and purchased by gem hunter Regan Reaney from a buyer in India, for an undisclosed amount.  The appraised value is $1.15 million, however, the value of the stone may increase due to the media attention that the gem is receiving and the international buzz surrounding it. The bidding is set to start at $500,000.

Emeralds are some of the most valuable jewels in the world, and sales of the precious gem have been recorded in ancient Babylonian markets, as far back as 4000 BC.  The countries producing the most commercial emeralds are Brazil, Columbia, and Zambia.  Smaller deposits have been found in areas such as Egypt, Afghanistan, and even North Carolina, USA.  Brazil produces more emeralds annually than any other country, however, Columbian emeralds are considered to be the world’s finest, and they set the industry standards for color and size.

Because of Teodora’s unusually large size, initial reaction to the gem was that it wasn’t authentic.  However, after testing was completed by gemologist Jeff Nechka, the emerald was verified to be genuine.   Mr. Nechka is the owner of Premier Gems, a Calgary based jewelry store.  He received his gemological training at the Gemological Institute of American, one of the world’s leading authorities on gemstones, and he is the only Western Canadian member of the International Colored Stone Association.

Mr. Nechka reportedly found evidence of dye in the emerald, which was noted on the appraisal.  Dyeing is a practice that is considered to be deceptive in the gemstone industry, because once a gem has been treated, it is impossible to determine the original color of the stone, or how much dye was applied.  The gem could have possibly been a green beryl, before it was dyed.  Green beryl is a member of the same mineral species as emerald, but is much lighter in color, and less valuable.  Since Teodora is only of commercial quality, however, Mr. Nechka feels that the value lies in the sheer size of the stone, and the dyeing does not significantly affect the value.

Still, there are some buyers and gemologists in the industry who have yet to inspect Teodora, and even though she is the largest emerald in the world, they are skeptical of her value.  Potential buyers are being warned by these skeptics to have the stone examined by their own independent appraisers, before they consider bidding.