luxury

Jony Ive and Marc Newson's all-diamond ring sells for $256K

Updated 6th December 2018
Credit: Sotheby's
Jony Ive and Marc Newson's all-diamond ring sells for $256K
Written by Jack Guy, CNN
A one-of-a-kind ring cut from a single large diamond sold at auction for more than $256,000 Wednesday evening.
Designed by Apple's chief design officer Jony Ive and industrial designer Marc Newson, the one-piece design does away with the metal band and settings traditionally used by jewelers.
Jony Ive, left, and Marc Newson, pictured in 2015.
Jony Ive, left, and Marc Newson, pictured in 2015. Credit: Andreas Rentz/Getty Images for Conde' Nast International Luxury Conference
The item has between 2,000 and 3,000 facets, a number never previously seen in a single diamond piece, according to auction house Sotheby's.
It was cut using a micrometer-thick (one millionth of a meter) water jet and a laser beam by Diamond Foundry, a company that produces laboratory diamonds at a facility in San Francisco.
The ring was auctioned off in Miami, with the proceeds donated to (RED), an HIV/AIDS charity set up by singer Bono and activist Bobby Shriver.
Huge pink diamond breaks world record at auction
It is the latest collaboration between Ive and Newson, whose joint projects have included a one-off Leica camera and a Christmas tree for London hotel Claridge's.
The item's final price exceeded its top estimate of $250,000 at the (RED) auction, which took place during the Art Basel and Design Miami fairs. It will be cut to fit the finger of the winning bidder.
It has been an eventful few weeks for diamonds at auction. In November, an 18.96-carat pink diamond sold for $50 million at Christie's in Geneva, a new per-carat record price at auction.