Christie’s Hong Kong Magnificent Jewels that took place earlier this week, resulted in many Fancy Color Diamonds and Jewellery going back home. Many unique pieces such as the 2.10 carat, Fancy Vivid Blue and the 1.63 carat, Fancy Vivid Greenish Blue diamonds, both round shape did not reach their minimum bids, according to some.
The auction ended up with HKD 470,215,000 in sales compared to HKD 731,147,500 last year; a whopping 35.7% drop, while their purses and watches auction in Hong Kong has had increases over last year. With all the pieces that went unsold, or “withdrawn” as per Christie’s claim on their website as well as items removed form their website, sales could have reached last year level or even surpass them.
Fake News or Misleading the public! Which one is it?
Something quite disturbing has happened after the auction earlier this week! according to Christie’s website, all the major Fancy Color Diamonds that did not sell were either withdrawn, or removed from the site. Why is that? is Christie’s hiding something? how come they removed many pieces from their website? are they legally allowed to? if so, how is it perceived in the market? if an item does not sell for some reason, I think it is the right of the investing public to know about it, otherwise, auctions are no longer public, but a private matter. Why should there lots of noise when an item breaks a record, yet when it is not sold, it is hidden and removed as if it never existed (except our website). We pride ourselves in reporting the information whether it is good or less good. Truth is our policy!
Let’s take a minute and review what did sell…
The 5.21 carat, Fancy pink with an Internally Flawless clarity and the 5.01 carat, Fancy Pink diamond with a VS1 clarity sold for $4.32 million total (using 7.8 exchange rate) or $422,750 per carat on average. Remember that on my last article review this item, it was mentioned that it was sold back in October 2017 by Sotheby’s for $5.114 million, and then declared unsold by Sotheby’s on their website.
The 5.01 and 5.21 carat Fancy Pink Diamonds Image credit: Christie’s
The famous 24.04 carat, Fancy Yellow Diamond once owned by Marilyn Monroe was estimated to sell between $500k to $750k and ended up selling for $1.32 million (based on 7.8 exchange rate) or $54,929 per carat. This is a perfect example where Provenance of the diamond has more importance than the actual value of such a diamond. The story behind it had greater value than the actual diamond.
The Marilyn Monroe, 24.04 carat, Fancy Yellow Diamonds Image credit: Christie’s
The 7.48 carat, Fancy Vivid Yellow Diamond ring was sold for $859k or $114,836 per carat, after an estimation of between $100k to $133.7k per carat so just around the average price per carat. This shows strong price valuation for Fancy Vivid Yellow diamonds above 5 carat in size.
The 7.48 carat Fancy Vivid Yellow Diamond Image credit: Christie’s
Unsold or Withdrawn? how can we get a real answer?
The following diamonds have either been unsold and claimed withdrawn or just unsold? how can we know? and if withdrawn, then why some of them have been removed fro the website? some are still on the website and marked withdrawn. We need real answers, and the only thing that can back up the claim is a complete video of the auction that must exist somewhere with Christie’s. Assuming items withdrawn, the owner should agree that the items remain on the website, otherwise we feel that we are “cheated” somehow…
The 2.10 carat Fancy Vivid Blue diamond, round brilliant, claimed to be withdrawn, yet the item has been removed from the website completely. I think it was lot #2055; or perhaps 2048, 2049, 2050, or 2051, which are also no longer on the website.
The 2.10 carat Fancy vivid Blue Diamond Image credit: Christie’s
the 2.04 carat, Fancy Intense Purplish Pink diamond ring, also no longer on the website.
The 2.04 carat Fancy Intense Purplish Pink Diamond Image credit: Christie’s
the 1.63 carat, Fancy Vivid Greenish Blue diamond is marked withdrawn on the website. See what happens when you click on the image of this item on the Christie’s website…Lot 2052
The 1.63 carat Fancy vivid Greenish Blue Diamonds Image credit: Christie’s
The pair of 0.73 carat Fancy vivid Pink diamond earrings left Christie’s website and went somewhere else on cyberspace….but where?
The 0.73 & 0.73 carat Fancy Vivid Pink Diamond earrings Image credit: Christie’s
And where has this ring disappear to?
The Fancy Color Diamond Ring Image credit: Christie’s
A 2.03 carat Fancy intense blue diamond briolette style is also no longer listed on Christie’s website.
The 2.03 carat Fancy Intense Blue Diamond Image credit: Christie’s
And the 1.79 carat Fancy Pink is no longer listed.
Where is the 0.44 carat, Fancy Vivid Pink diamond ring? guess what? no longer on Christie’s website…
The 0.44 carat Fancy Vivid Pink Diamond Image credit: Christie’s
A 30.18 carat, Fancy Vivid Yellow just disappeared from the website!
The 30.18 carat Fancy Intense Yellow Diamond Image credit: Christie’s
Anybody knows where the 1.53 carat, Fancy Intense Green Diamond gone to?
The 1.53 carat Fancy Intense Green Diamond Image credit: Christie’s
Do you think it is normal that things are just removed just because they did not sell? or withdrawn? whatever the reason is, it should be fully disclosed to the investing public. If a potential seller is concerned about his diamond not being sold, then he should not offer it in the first place. As for Christie’s, they have a responsibility toward their audience, buyers, and investors to fully disclose why they remove items from their website. This gives the feeling of “Fake News” or Misleading behaviour” by the auction house. Although I gave credit to the images by Christie’s, but now that they are not on their website, who do I give the credit to?
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