On September 22, Sotheby’s New York auction ended up with mixed results, for both Colorless diamonds as well as for Fancy Color Diamonds. Some unique items ended up not selling, while other, rarer items, were sold for above estimates as we predicted weeks ago.
White was out, but Blue Sapphire was in!
As the market for colorless diamonds remains soft, even rarer, more unique items, can end up not selling. The 27.35 carat, D color, VS2 clarity, which was the single item valued at over $1 million, ended up remaining at the hands of its current owner. It was valued at between $2 to $2.5 million.
The 27.35 carat, D color, VS2 Clarity colorless Diamond Image Courtesy: Sotheby’s
The top lot selling that night ended up being a beautiful Sapphire by Bulgari. A 24.72 carat cushion shape, Burmese Sapphire, it was estimates between $250k to $350k total. It ended up selling for over twice the high estimates at $706k total.
The 24.72 carat Burmese Sapphire Image Courtesy: Sotheby’s
Yellow is Mellow
The 30.71 carat, Fancy Intense Yellow diamond with a VS1 clarity also went back home with its owner. It was valued at $675k and $775k. As per our predictions, we remain confident where prices will be in the medium to long term range. Only those rare and unique items, survive a hard time.
The 30.71 carat, Fancy Intense Yellow, VS1 Diamond Image Courtesy: Sotheby’s
Blue makes us sing the Blues…..
The Small, Fancy Intense Blue Diamond with a VS2 clarity, ended up selling at 34% above its high estimates, and sold for a total of $106,250 or $134k per carat.
The 0.79 carat, Fancy Intense Blue Diamond with a VS2 clarity Image Courtesy: Sotheby’s
Harry Winston Pink ring sold
The Soft toned, round brilliant, 0.47 carat, Fancy intense Purplish Pink ring was sold for $32,500 after being valued at $25k to $35k total.
The 0.47 carat, Fancy Intense Purplish Pink and SI1 clarity Image Courtesy: Sotheby’s
As mentioned in the previous article, Geneva is the auction everybody is waiting for, although the Special purple-pink diamond will be offered in the upcoming Sotheby’s Magnificent Jewels & Jadeite in Hong Kong auction on October 4th.