At the time of its sale in 1987 it was the most expensive per-carat gemstone ever sold at auction. The hammer came down at $880,000—a remarkable $926,315 per carat, eight times its pre-sale estimate.
It sold for over $926,000 per carat! The Hancock Red was sold by the heirs of the American owner, Warren Hancock, a Montana rancher and diamond collector. Mr. Hancock bought all of his diamonds at retail prices from his local jeweller, and he had reportedly paid $13,500 for the 0.95-carat red diamond in 1956. It is fair to say this was one of the greatest gemstone investments of the century.