Sotheby’s Blows Sales Out Of The Water Despite Important Colorless Diamonds Not Selling
Sotheby’s ended up selling $56.8 million ( HKD $ 437,674,250) on July 10th at its Hong Kong Magnificent Jewels. This is based on 204 items offered but 2 withdrawn. Sotheby’s has not had such a successful sale in Hong Kong since 2017.
The top Fancy Color Diamond sold was the 5.04 carat Fancy Vivid Blue Diamond with a VS2 clarity (GIA 12150222) which was sold for $10.6 million, after being valued at between $7.8 million to $9.7 million. This translates to $2.11 million per carat.
The second highest sold Fancy Color Diamond was the 4.49 carat, Fancy Vivid Pink, Heart Shape with Internally Flawless clarity (GIA 2205859856). It was sold for $8.18 million or $1.822 million per carat, after an evaluation between $7.53 million to $8.83 million.
The 4.05 carat Fancy Intense Purplish Pink with SI2 clarity (GIA 2314413651) was sold for $1.58 million or $390k per carat. It was estimated to sell between $780k to $1.04 million. It was sold for 51% above the high estimate.
The 2.59 carat Fancy Deep Purple-Pink diamond (GIA 2145973891) did not sell. It did not reach the minimum of $545k. It is clear here that having it under a brand such as Van Cleef & Arpels did not help it sell.
The 6.39 carat Light Pink diamond (GIA 2175558238) sold for $615k after it was value between $520 and $650k
The 3.18 carat Fancy Grey-Blue diamond (GIA 7198336628) sold for $487k after being evaluated between $402k and $519k
The 1.07 carat, Fancy Intense Pink diamond (GIA 13430019) did not sell. It did not reach the $169k minimum…
The pair of Fancy Purplish pink weighing 1.02 and 1.01 carat (GIA 1182940494 and 7258065252) sold for $187k after an evaluation between $156k and $228k.
The 1.01 pair of Fancy Intense Blue and 1.01 Fancy Orangy Pink was sold for $268k at the high ends of the valuation.
The top 2 items offered in Fancy Color Diamonds made a total of $18,805,000 which accounts for about 33% of total sales. It shows us again the importance that Fancy Color Diamonds bring to global auctions. On the other hand, a 22.18 carat, an 18 carat, and 2 pairs of earrings ( 1 set in heart shape and another in cushion) failed to sell. Both pairs were above 10 carat per stone. Another pair of 12 carats colorless earrings also failed to sell. This shows us that the appetite for unique items remains for Fancy Color Diamonds due to rarity.
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