Christie’s Hong Kong Sales Down In 10 Years Despite Successful Sale Of Moussaieff Pink Diamond
It was a bitter sweet auction day at Christie’s Hong Kong today. The highest valued item was sold; a 3.43 carat, Fancy Vivid Purplish Pink by Moussaieff, while another significant item, a 3.01 carat, Fancy Vivid Blue Diamond was withdrawn from the auction.
Total sales were HKD $348,640,250, a 10 year low. Using a 7.8 conversion rate between the USD to HKD, sales were down 38% from last year and almost 62% down from 2015, the all time high sales. Sales are the lowest in 10 years. In 2009, sales were $32.94 million, compared to $44.7 million this year.
Image Credit: Christie’s
The 3.43 carat, Fancy Vivid Purplish Pink by Moussaieff was valued between $6 million to $8 million and ended up selling for $7,541,667 or $2.2 million per carat. It is the second highest price per carat for any pink diamond in the world, following the recent sale of the 18.96 carat, Winston Pink in Geneva when it was sold for $2.63 million per carat.
Image Credit: Christie’s
The 3.01 carat, Fancy Vivid Blue Diamond which was valued between $4.86 million to $7.04 million was withdrawn. Most likely, the owners saw a weak market demand and preferred removing the diamond from the sale.
Image Credit: Christie’s
The 8.13 carat, Fancy Vivid Yellow with VVS1 clarity was valued between $85k to $1.1 million ended up selling for $1,062,179 or $130,649 per carat.
Image Credit: Christie’s
The 7.47 carat, Fancy Vivid Yellow pear shape with VVS2 clarity diamond was estimated between $550k to $800k but did not sell.
Image Credit: Christie’s
The 7.77 carat, Faint pink with Internally Flawless clarity that was valued between $450k to $700k did not sell either.
Image Credit: Christie’s
The 2.03 carat, Fancy Intense Blue diamond, briolette on a ring with VVS2 clarity failed to sell for the second time. It was valued between $350k to $480k total.
Image Credit: Christie’s
The 5.02 carat, Light Pink with Internally Flawless clarity was valued between $250k to $380k was sold for $431,410.
Image Credit: Christie’s
The 0.85 carat, Fancy Intense Pink diamond on necklace was valued between $200k to $320k and was sold for $240,385.
Image Credit: Christie’s
The pink earrings by Boghossian were valued between $200k to $320k and ended up selling for $304,487.
Image Credit: Christie’s
The 2.70 carat, Fancy Dark grey with VS2 diamond was sold for $208,333 after being valued between $165k to $230k.
Image Credit: Christie’s
The 1.64 Light Pink diamond on ring with a pair of earrings that were valued between $150k to $230k did not sell.
Image Credit: Christie’s
The 1.01 carat, Fancy Intense Pink with SI1 clarity diamond and was valued between $125k to $190 ended up selling for $160,256.
Image Credit: Christie’s
Fancy Color Diamond are following the general trend of jewelry at auction. At this auction, 75% of items were sold while 25% did not, yet the total sales are down significantly over the last few years. Nevertheless there are some great opportunities out there, but investors are looking for the best. Investors want to keep the investment as safe as possible and only the best pieces will do so.
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