Yesterday, Christie’s Geneva sold CHF 33,474,000 during their evening session. Even if we add the CHF 2,874,250 of their online Geneva sales, we are still down over 34% year over year from 2019.
How have Fancy Color Diamonds performed during this auction?
The 28.88 carat, Fancy Vivid Yellow Diamond was sold for $3.1 million or $107.6k per carat. This is in the mid-range of the valuation given by Christie’s. It also enters the unique $100k+ per carat price group. It was valued between $2.56 million and $3.6 million.
The 1.05 carat, Fancy Purplish Red diamond was sold for $2.75 million or $2.616 million per carat, a new world record per carat for a Red Diamond sold at auction. As mentioned in our review prior to the auction, the last record was held by the 2.09 carat, Fancy Red, heart shape diamond by Moussaieff.
The pair of earrings were sold for $2.65 million after being valued between $2.725 million and $3.815 million. It was sold well below the minimum valuation.
The 3.96 carat, Fancy Deep Blue diamond with SI1 clarity was sold for $1.73 million or $437.7k per carat. It was sold at the lower end of the valuation.
The 3.81 carat, Fancy Purplish Pink did not find a buyer as it did not meet the minimum reserve. It was valued between $523k to $708k.
The red diamond has broken a record and this happened because of its rarity. During uncertain times, investors try to protect their wealth by diversifying into real assets. Fancy Color Diamonds should be considered for investment and asset protection purpose. We strongly recommend you speak to a person that has knowledge both in investments and Fancy Color Diamonds. Remember that buying directly from dealers does not guarantee that you are getting what you need or at the best value possible.
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