07 Dec 2017

Graff Blue Diamond Ring Fetches $13M

A ring featuring two fancy vivid blue diamonds by Graff Diamonds smashed its pre-sale estimate at Christie’s Magnificent Jewels sale on Wednesday, as blue diamonds continued to dominate the New York auction scene.

A 2 pear-shaped blue diamond ring.

The pear-shaped, modified-brilliant-cut diamonds, weighing 3.36 carats and 2.71 carats with VVS2- and VS1-clarity, respectively, sold for $12.6 million, well above their estimate of $6.5 million to $8.5 million, Christie’s said. Both stones have the potential to be re-cut to be internally flawless, the auctioneer added.

At the same sale, a cut-cornered, square step-cut, 38.91-carat, D-color, VS1-clarity diamond went for $3.6 million, or $93,613 per carat, beating its high estimate of $3.5 million.

A brilliant-cut, 23.26-carat, E-color, VVS2-clarity diamond fetched $2.4 million, translating to $101,139 per carat. It had drawn an estimate of up to $1.5 million.

Total proceeds at the auction came to $62.6 million. The sale followed a Sotheby’s auction in New York on Tuesday, in which the top item, a 5.69-carat fancy vivid blue diamond ring, found a buyer at $15.1 million, beating its $15 million upper estimate.

Share this
06 Dec 2017

Blue Diamond Sells for $15M at Sotheby’s New York

Sotheby’s sold US$54 million worth of jewellery at its New York auction on Tuesday as several pieces containing rare blue diamonds and gemstones yielded higher-than-expected prices.

Fancy vivid blue diamond ring.
An anonymous buyer spent $15.1 million, or $2.7 million per carat, on an emerald-cut, 5.69-carat, fancy vivid blue, VVS1-clarity diamond ring, beating its upper estimate of $15 million, the auctioneer said. Meanwhile, a pear-shaped, 2.05-carat, fancy intense blue, internally flawless diamond ring fetched $2.7 million, or $1.3 million per carat, in a sale to a member of the trade — well above its high estimate of $1.5 million.

Sapphire jewelry also attracted strong prices. A Van Cleef & Arpels bracelet containing 193.73 carats of the blue stones went to a private collector for $3.1 million, having drawn an estimate of up to $1.5 million. A sapphire-and-diamond necklace-bracelet combination by Harry Winston — with seven emerald-cut sapphires weighing a combined 123.13 carats — fetched $1.9 million, beating the expected price of up to $1.5 million.

“The market continues to show its strength in colored stones, with today’s results driven by intense competition for important colored diamonds, sapphires and emeralds in particular,” Sotheby’s jewelry-division chair Gary Schuler said.

A 110.92-carat, L-color, VS1-clarity diamond — the largest round diamond in auction history — appeared on Sotheby’s list of unsold lots. The company did not immediately respond to a request for comment outside of New York working hours.

Share this
Download your free Pink Diamond Investment Guide

Get an insight into the factors involved in coloured diamond investments in our free guide.

Download My Investment Guide
Keep up to date

Keep up to date about what’s happening in the rare coloured diamond market – latest news, price updates, auction news, and investment information.

© 2020 Australian Diamond Portfolio. All rights reserved.

Click Me