On June 7th, Phillips auction house held its annual New York auction where 138 lots were offered. At the conclusion of the auction, 104 (75%) out of the 138 items were successfully sold. It is important to note that 38 of those sold items did so above the high valuation done by Phillips, while 9 were sold below the low valuation.
The only item of any importance to us was the 6.01 carat, Fancy Intense Orangy Pink diamond with a VS2 clarity. It is well worth noting that it was a type IIa diamond and was accompanied with a letter about its importance by Stephen Hofer; a long time advocate and champion of Natural Fancy Color Diamonds.
The diamond was valued between $1.2 million and $1.8 million and ended up selling for $1,340,000 or just under $223k per carat.
Overall, Fancy Color Diamonds have had a quiet half year up to now, but that falls with the same trend as jewelry sales overall in auctions up to this point in time of the year. We look forward to the auctions that will be back in the fall.
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