Sotheby’s Disappointing Upcoming Geneva Auction For Fancy Color Diamonds
I had to review the list of lots offered twice to make sure I had it right!
I am extremely disappointed that Sotheby’s is not able to bring significant Fancy Color Diamonds to one of their most important auctions of the year. Only a single pink diamonds and a single blue diamond are being showcased at the upcoming auction in Geneva on May 14, 2019.
The highest valued Fancy Color Diamond at this auction is a 7.56 carat, Fancy Purplish Pink Diamond with an SI1 clarity. It is valued at between $1.1 million to $1.8 million or $145.5k to $238k per carat. Having a clarity of SI1 justifies this valuation. There are much higher quality Pink diamonds available on the market.
The second highest valued Fancy Color Diamond In the auction is the 20.01 carat, Fancy Intense Yellow Diamond with a VVS1 clarity. It can be re-polished and upgraded to an Internally Flawless, but most likely it will fall below 20 carats, which can reduce its value per carat. It is valued between $300k to $500k or $15k to $25k per carat. If the color is strong enough, we will see the value go over the $500k mark, otherwise, if the color is week, then the valuation is in a good range.
The third highest valued Fancy Color Diamonds on this auction is the 1.01 carat, Fancy Intense Blue diamond with a VS1 clarity, by Tiffany & Co. It is valued between $150k to $250k total. Normally, this value range is appropriate for a Fancy Blue diamond, so unless the color is weak, the price will go well above the $250k value range, and into the $400k area.
The last Item I wanted to discuss is the 1.01 carat, Fancy Intense Pink diamond, round brilliant. Only the color is mentioned and therefore we can conclude that the clarity is in the I range clarity. The certificate is dated back to 1996, and therefore cannot be verified online on GIA’s website. It is valued between $80k to $100k, which is good. If the clarity was higher, then the valuation would have been higher. Perhaps we will see the selling price go above $100k only because it is a round brilliant. I would not pay more than its current valuation range.
I hope that after this auction Sotheby’s will find new ways to attract quality Fancy Color Diamonds to its auctions. It seems that this year, much more sales of important Fancy Color Diamonds are being made via the private channels. This leaves the auction arena in deep waters, as sales volume will drastically be reduced to record lows, and in turn will reduce earned fees to the auction houses for jewelry.
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