Fancy colored diamonds are hugging the spotlight once again during this year’s spring’s auction season, with two records already being set over a two-day period in New York. To be more precise, a record was broken one day and then rebroken the next.
It began at Christie’s Magnificent Jewels auction in New York on April 17, when a ring with a 3.09-carat fancy intense blue diamond as its center stone sold for $5.4 million. The amount received for the rectangular-cut blue diamond, which was surrounded by tapered baguette-cut white diamonds on either side, was about double the $2 million to $3 million pre-sale estimate. The transaction made history by garnering the highest ever price per carat – $1,739,482 – for a fancy intense blue diamonds.
The previous record of $1,530,625 per carat had been held by a 3.13-carat carat fancy intense blue diamond with internally flawless clarity that was sold at a Sotheby’s auction in Hong Kong on April 4, 2017.
But, as mentioned, the record held up just one day. On April 18, at Sotheby’s midtown sales room, a cut-cornered, rectangular, step-cut 3.47-carat fancy intense blue diamond in a ring sold for $6.7 million, almost triple the pre-sale estimate of between $2 million and $2.5 million. The price per carat record for a fancy intense blue diamond consequently rose to $1,920,259.
The two blue stones were not the spectacular fancy colored diamonds sold in April. The Christie’s sale also featured an 8.42-carat cut-corner rectangular modified brilliant-cut fancy intense pink diamond that sold for $5 million.
Also at Christie’s, a Cartier crossover ring set with a 2.85-carat pear modified brilliant-cut fancy intense pink diamond, and a 2.42-carat pear brilliant-cut fancy vivid blue diamond, additionally featuring baguette-cut diamond shoulders and circular-cut diamond gallery, sold for more than $4.5 million. A similar ring with a 2.10-carat pear brilliant-cut fancy vivid blue diamond, and a 1.98-carat pear brilliant-cut colorless diamond, flanked by tapered baguette-cut diamonds, sold for almost $3.5 million.
Next up this spring are the Geneva sales, where the most closely watched lot is a 20.49-carat, fancy vivid-yellow diamond ring, that will go on sale at Christie’s Magnificent Jewels sale on May 16. Its pre-sale estimate is between $3.9 million and $4.7 million, but, based on what transpired in New York, anything can be expected.
Article by MID House of Diamonds