A flawless fancy vivid PINK DIAMOND sold for a record US$17.7 million in Hong Kong late Tuesday, Sotheby’s said.
The auction house said the internally flawless 8.41-carat stone had been expected to go under the hammer for up to US$15.5 million.
The pear-shaped stone had “attracted keen competition before fetching a wonderful price of HK$137.88 million (US$17.77 million) and setting a world auction record for a fancy vivid pink diamond”.
SEE ALSO: PINK STAR’ DIAMOND AUCTIONED FOR $83 MILLION
Internally flawless clarity is extremely rare in pink diamonds. This, in combination with its “fancy vivid” colour grading, made the stone “amongst the rarest and most desirable of coloured diamonds ever seen at auction”.
Diamonds in the “fancy vivid” category are considered as having the highest possible concentration of colour.
A spactacular blue diamond, the largest in its category, fetched a total of $23.79 million at a Christie’s auction in Geneva on Wednesday.
The sale of the 13.22 carat rock known simply as “The Blue” came a day after Sotheby’s sold a 100-carat flawless yellow diamond for $16.3 million.
When the world’s largest orange diamond went under the hammer last November at Christie’s in Geneva, it raked in $35.5 million.
Such marquee sales underline the growing popularity of coloured diamonds. Once considered a curiosity, they are rarer than white diamonds and now attract higher prices per carat than even the most flawless, translucent stone.
The US jeweller Harry Winston bought it from an anonymous seller. The company plans to rename the 13.22-carat pear-shaped rock the “Winston Blue”. Harry Winston was bought by watch group Swatch last year.
Sotheby’s Geneva will auction, next month, the 100.09-carat Graff Vivid Yellow, one of the largest fancy vivid yellow diamonds in the world.
The Graff Vivid Yellow, the colour of a daffodil and weighing 100.09 carats, figures among a wide range of pieces for sale at Sotheby’s spring Magnificent Jewels and Nobel Jewels auction in the Swiss city on May 13.
The rock, one of the world’s largest cut diamonds of any colour, is mounted as a ring and sparkles with “extraordinary fire and brilliance.”
The asking price for the privately-owned gem is $15-25 million (11-18 million euros), but if recent auctions are any guide it could fetch more.
When the world’s largest orange diamond went under the hammer last November at Christie’s in Geneva, it raked in $35.5 million compared to its $17-20 million price tag.
And a Sotheby’s auction the next day saw the world’s largest pink diamond, known as Pink Star, fetch $83 million, $23 million above the asking price.
The auction house was, however, forced last month to take back the Pink Star after the buyer defaulted on the payment.
Sotheby’s still holds the world record price for a diamond sale, even after the default. In November 2010 it sold another pink diamond — the 24.78-carat “Graff Pink” — for $46 million in another auction in Geneva.
The world’s largest blue diamond will go under the hammer in Geneva next month, with the rare gem expected to fetch up to $25 million.
“The Blue”, a shimmering pear-shaped rock the colour of cobalt and weighing 13.22 carats was described by Christie’s as “the largest fancy vivid blue diamond in the world.”
The gem will be the centrepiece of the auction house’s “Magnificent Jewels” sale in Geneva on May 14, with an asking price of $21-25 million.
If recent auctions in Geneva are any indication though, it could fetch far more. When the world’s largest orange diamond, a 14.82-carat gem called “The Orange”, went under the hammer last November at Christie’s, it raked in $35.5 million compared to its $17-20 million price tag.
And a Sotheby’s auction the next day saw the world’s largest pink diamond, known as the Pink Star, fetch $83 million.
The auction house was, however, forced last month to take back the Pink Star after the buyer defaulted on the payment.
Christie’s said its auction next month would comprise 250 pieces at a joint estimated value of $80 million. Among other notable gemstones will be a 5.5-carat vivid blue-green diamond named “The Ocean Dream”.
Competitor Sotheby’s will meanwhile hold its Magnificent Jewels sale next door on May 13, auctioning off one of the world’s largest yellow diamond.
The Graff Vivid Yellow, the colour of a daffodil and weighing 100.09 carats, has been valued at up to $25 million.
Sotheby’s says an enormous diamond known as The Pink Star is back in its possession after the buyer couldn’t pay for the jewel and defaulted.
New York-based diamond cutter Isaac Wolf outbid 3 rivals to pay $83 million for the flawless pink diamond in an auction guaranteed by Sotheby’s.
But on Thursday, the auction house said it has reversed the related commission revenue on the sale as a result of the buyer’s default and has recorded the pink diamond in its inventory at a value of about $72 million.
“We are currently in discussions with the buyer, while also considering other alternatives,” Patrick McClymont, Sotheby’s CFO said. “In the meantime, we are quite comfortable with our valuation, and see real value in owning the diamond at this price.”
Sotheby’s said the price fetched in Geneva for the 59.60-carat pink diamond was the highest ever paid for a gemstone at auction.
Sotheby’s still holds the world record price for a diamond sale, even after the default. In November 2010 the auction house sold another pink diamond – the 24.78-carat “Graff Pink” – for $46m in another auction in Geneva.
In lieu of a complimentary fruit basket or bottle of bubbly, a luxury hotel in New York City is giving away diamond rings with your reservation. The catch? A one-night’s stay costs $25,000.
Guests of The New York Palace’s Jewel Suite, designed by jeweler to the stars Martin Katz, stay in a 5,000-square foot, three-level apartment bedecked in gemstones and rich, plush fabrics on the building’s 53rd floor.
The suite, complete with its own private roof-top deck and garden with an elevated spa, offers an unparalleled view of the NYC skyline.
Guests of the Martin Katz Jewel Suite are treated to exclusive amenities including a complimentary, original Martin Katz Diamond Microband Ring, valued at $2,500, a rare private consultation with Katz himself, champagne, white roses, Michel Richard white chocolate diamond truffles, a Maybach house car service, and Maître d’étage service to fulfill guest’s every whim.
A plum-sized diamond known as the “Pink Star” was auctioned in Geneva Wednesday for $83 million, a world record for a gemstone. The diamond had been estimated at $60 million.
Three years ago, Sotheby’s set an auction record of $46.2 million for a diamond when it sold the “Graff Pink” gemstone. The Sotheby’s auction came a day after rival house Christie’s sold an almond-shaped diamond dubbed “The Orange” for $35.5 million, also a record in its category.
The 59.60-carat “Pink Star” is the largest in its class ever graded by the Gemological Institute of America (GIA), with the second biggest less than half its size.
The sparkling oval-cut rock measures 2.69 by 2.06 centimetres (1.06 by 0.81 inches), and weighs 11.92 grammes (0.026 pounds).
In addition to its top colour and clarity ratings, it falls into a rare subgroup with the purest diamond crystals and extraordinary optical transparency, comprising less than two percent of all gem diamonds.
The “Pink Star” was 132.5 carats in the rough when it was mined by De Beers in Africa in 1999, according to Sotheby’s, which has not said which country it came from.
It was cut and polished over two years by Steinmetz Diamonds, and unveiled to the public in 2003 under the title of the “Steinmetz Pink”.
The near-translucent rock was renamed after it was first sold four years later for an undisclosed sum to an unidentified buyer. Sotheby’s declined to name the seller in Wednesday’s auction, nor would it say whether the gemstone had been bought and sold again since 2007.
A spectacular and rare orange diamond, the largest known gem of its kind, was on Tuesday auctioned for a record $35.54 million in Geneva.
“It’s a world record price for an orange diamond, it’s a world record price per carat for any coloured diamond,” the Christie’s auction house said.
The price works out at $2.4 million per carat, beating the previous record of $2.15 million for the Vivid Pink Diamond sold in Hong Kong in 2009.
The man who made the purchase swiftly got up and left the room to a round of applause. Christie’s did not reveal his identity.
The deep orange gemstone, found in South Africa, weighs a whopping 14.82 carats. The Gemological Institute of America (GIA) has handed it the top rating for coloured diamonds: “fancy vivid”.
Pure orange diamonds, also known as fire diamonds, are very uncommon and few have been auctioned, with the largest never more than six carats.
Hedi Slimane is launching a new line of stunning diamond jewelry for the Parisian luxury house.
Titled ‘Saint Laurent Diamond,’ Slimane’s latest jewelry collection features stunning modernist designs in gold, set with brilliant-cut diamond paving.
The hand-crafted jewelry line, which features rings and bracelets for men and women, follows “the tradition and savoir-faire spirit of Parisian joaillerie,” says the brand.
Customers have the choice of 18K gold or 18K white gold set with diamonds and according to Saint Laurent the collection will be “permanent and evolving.”
A 118.28-carat white diamond broke a world record Monday when it fetched more than $30 million at a Hong Kong auction. The sparkling translucent stone was sold to a phone bidder at the Sotheby’s auction for HK$238.68 million ($30.6 million) following bidding that lasted for more than six minutes.
The egg-shaped stone has been described as the finest of its kind ever to appear at auction. Earlier estimates valued it at $28-$35 million.
The stone, dubbed the “Magnificent Oval Diamond”, was discovered in a deep mine in an undisclosed southern African country in 2011. As a rough stone before being cut, it weighed 299 carats.
The stone, described by Sotheby’s as “the largest D colour flawless diamond”, has been given the highest quality rating awarded by the Gemological Institute of America.
Prestigious jeweller Harry Winston, which was acquired earlier this year by Swatch Group, bought a new colourless, flawless 101.73-carat diamond for a record $26.7 million at an auction in Geneva on Wednesday, auction house Christie’s said.
As the first ever buyer of the new diamond, Harry Winston had the priviledge of naming it and had decided to call it “Harry Legacy.”
This is the diamond dealer’s first major purchase since it was snapped up by the world’s leading watchmaker for $1.0 billion in March.
The American Institute of Gemology has handed the Harry Legacy the top colourless grade “D” and the best clarity grade, “flawless”, which is characterised by its “absolute symmetry”, according to Christies.
The diamond, sold at the auction by a diamond merchant, was 236 carats in the rough when it was extracted from the Jwaneng mine in Botswana, before it was meticulously sculpted for 21 months, Christie’s said.
Wednesday’s sale marked the highest price ever paid for a flawless colourless diamond at auction, although Christie’s had hoped the new diamond — the largest of its kind to ever go under the hammer — would rake in $30 million.
The Elizabeth Taylor Diamond, which is in the same D-colour category but weighs in at only 33.19 carats, was meanwhile sold for $8.8 million on auction in New York in December 2011.
An extremely rare blue diamond sold for £6.2 million ($9.5 million) at a London auction on Wednesday, setting a new world record for price per carat.
The fancy deep-blue diamond weighing 5.30 carats sold at Bonhams Fine Jewellery sale in central London for a record $1.8 million per carat, beating the previous record of $1.68 million.
The diamond, which was bought by international diamond house Graff Diamonds, is set in a ‘Trombino’ ring made by Italian jeweller Bulgari around 1965.
“We are delighted with the price it has made,” said Jean Ghika, Director of Bonhams Jewellery. “It was a sensational stone which charmed everyone who viewed it prior to the sale.”
“Blue diamonds, especially those over 5.00 carats, are extremely rare to see on the market and continue to be highly sought-after. We are honoured to have handled the sale of such a unique gem.”
The term “fancy” is used to describe a diamond of intense colour. The blue is derived from small amounts of boron impurities within the diamond.
A 34.64-carat pink diamond has sold at auction in New York for nearly $40 million, setting a new record for Christie’s auction house.
Dubbed the “Princie Diamond,” the gem is “one of the largest and finest pink diamonds in the world,” with a “fabulous provenance,” Christie’s jewelry chief Francois Curiel said ahead of the sale.
An anonymous telephone bidder paid $39,323,750, or more than $1 million per carat, for the stone from ancient diamond mines in southern India, the auction house said in a statement Tuesday.
The pink gem was once owned by the royal family of Hyderabad and, since 1960, by the London branch of Van Cleef & Arpels.
The exclusive jewelry firm originally paid 46,000 pounds for it, equivalent to $1.3 million today, Christie’s said, indicating a hefty profit after Tuesday’s sale.
Previously, the most paid at Christie’s for a diamond was $24.3 million, for the 31-carat Wittelsbach diamond in 2008.
Auction house Christie’s on Wednesday said it would put up for auction “one of the world’s most perfect diamonds” — a new colourless, pear-shaped gem weighing 101.73 carats.
In the rough, the diamond was 236 carats when it was extracted from the Jwaneng mine in Botswana, before it was meticulously sculpted for 21 months, Christie’s said.
The diamond “has literally been sculpted like a work of art,” Rahul Kadakia, who heads Christie’s jewellery division in Switzerland and the Americas, said in a statement, describing the gem as “one of the most beautiful ‘white’ diamonds Christie’s has ever had the honour of offering for sale.”
The May 15 auction in Geneva will mark the first time the rock goes on sale, and the buyer will have the privilege of naming it. Before going on sale, the diamond will go on tour to New York and Hong Kong.
The American Institute of Gemology has handed the gemstone the top colourless grade “D” and the best clarity grade, “flawless,” Christie’s said, also hailing the diamond’s “absolute symmetry”.
In this category, the reigning world champion is the Cullinan Diamond, a gem weighing 530.2 carats that is part of the British crown jewels.
This one of a kind, stunning pink diamond Barbie Doll has been created by the duo David and Phillipe Blond along with Bill Greening, Principal Designer at Mattel.
Louis XIII Cognac and The Four Seasons Hotel London at Park Lane have teamed up this summer to celebrate The Queen’s Diamond Jubilee.
They are creating a Diamond Jubilee cocktail for the month of June which, at £10,000, also comes with a diamond!
A centuries-old diamond passed down through generations of European royalty fetched nine million Swiss francs ($9.7 million) at auction in Geneva on Tuesday.
The 34.98-carat “Beau Sancy” diamond measures 2.3 centimetres in height, is 1.9 cm wide and 1.1 cm deep.
Passed down through the royal families of France, England, Prussia and the Netherlands, the Beau de Sancy has witnessed 400 years of European history.
Mining giant Rio Tinto has unearthed a “remarkable” 12.76 carat pink diamond in Australia, the largest of the rare and precious stones ever found in the country.
Named the Argyle Pink Jubilee, the huge rough stone was found at Rio’s pink diamond operations in the Kimberley region of Western Australia and would take 10 days to cut and polish, the miner said.
“This rare diamond is generating incredible excitement,” said Josephine Johnson from Rio’s Argyle Pink Diamonds division.
Black Astrum today launch the Signature Card range of bespoke diamond encrusted business cards, targeting ultra high net worth individuals across the world.
A full set of cards can contain in excess of 30 carats. The average selling price per card is around the £1000 mark, sold in sets of 25, 50 and 100 cards.
“The Signature Card allows our members to express themselves in a truly unique way” said Sufian Khawaja, Black Astrum’s concept director.
The Lobortas Classic Jewelry House of Kiev, Ukraine has entered the record books by setting 2,525 diamonds in one ring.
The “Tsarevna Swan” ring was presented and measured in Kiev on July 21, 2011, the Guinness Book of World Records confirmed.
The diamonds range from 0.001-0.05 carats with a total weight of 10.48 carats. All of the diamonds are of G color and range from VVS2 to VS1 in clarity.