Nothing like it has ever happened in the history of Jewelry Auction!
Christie’s will be opening the Asian market of Jewelry auction on july 9th in Hong Kong, and will be testing Investor’s hunger for rare diamonds when it offers the largest Internally Flawless, Fancy Intense Blue Diamond ever offered at auction.
Christie’s is offering a handful of unique diamonds, and below is a review of each starting with the star of the auction.
The 12.11 carat, Fancy Blue Diamond with an Internally Flawless clarity is being offered as the highest value item of the auction. It is valued between $8.4 million and 12.3 million or $696k to $1.017 million per carat. Let’s see how it will compare to the 24.18 carat, Cullinan Blue Diamond, which was sold in 2016 for $1.049 million per carat. It was a 24.18 carat Fancy Intense Blue Diamond, but with a VS2 clarity.
A much smaller, but the same color, shape and clarity diamond is being offered. The 2.08 carat, Fancy Intense Blue diamond with Internally Flawless clarity is being offered between $908k to $1.17 million or $436k to $561k per carat. Let’s see how strong prices hold for these types of diamonds in the auction.
The 2.01 carat, Fancy Pink Diamond with VS1 clarity is being offered between $78k to $103k or $39k to $52k per carat. This is another classic case of low value, and “pop” prices. This is done intentionally to show a low valuation versus a strong sale price tag. A 2+ carat Fancy Pink should be at least 3 times this value. What is Christie’s thinking? This calls on their credibility!
Christie’s auction in Hong Kong can set the mood in Asia for the rest of 2020. We know that there is a lot of money on the sidelines and investors are just not sure where to put it. They should take a small portion and buy good valued and rare Fancy Color Diamonds which will perform better than their other investment over a longer period of time.
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