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TheStreet Open House

US Marshals To Sell Rare Yellow Diamond

By Michelle Smith-Exclusive to Diamond Investing News

Anyone interested in a 43 carat flawless yellow diamond may like to know that the United States Marshals Service (USMS) has one for sale. The rare stone, known as the Golden Eye, will be available through an online Bid 4 Assets auction from September 6, at 8 am to September 8, at 3 pm.

In 2006, Paul Monea arranged to sell an estate formerly owned by Mike Tyson and the Golden Eye for $19 million and a boat. This deal was actually an undercover FBI operation that earned Monea a 12 ½ year sentence for money laundering. The diamond, which at the time was owned by the Monea Family Trust, became of the property of the federal government and the USMS has been ordered to sell it.

The Golden Eye is actually 43.51 carats and has a cushion modified brilliant cut that is considered fair. It is internally flawless and has been deemed to be fancy intense yellow. The stone does not have any green or orange modifying color, according to a report from the Geological Institute of America.

This latter point is a significant one because even subtle overtones can make a big difference in the value of a yellow diamond, according to Nina Woolford, Master Gemologist Appraiser and Principle of C.M Woolford and Associates.

The minimum bid for the Golden Eye is $900,000 and placing that bid requires a refundable deposit of $180,000. Interested parties can view the stone but doing so requires paying the deposit. Bid 4 Assets would not disclose the number of appointments already scheduled, but at the time that this article is being published, slots are still available.

Due to federal rules, certain individuals are considered unqualified to bid, such as government employees, government contractors and sub-contractors or family members of these individuals. The USMS, therefore reserves the right to refuse transferring the diamond to a winner.

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