Sotheby’s Geneva Featured Record Low Sales But Several New World Records
Sotheby’s has an annual auction in Geneva in the month of May, and this year’s auction resulted in the lowest total sale for the past five years. Nevertheless, Sotheby’s succeeded in breaking several records for the diamonds and jewelry that they offered. The total sales came to CHF 85,555,050 this year compared to last year’s CHF 150,737,000, a 43% drop. This year also represents a 50% drop from 2016, a year that made the record books for Sotheby’s with CHF 171,018,625 in sales. The sharp drop in sales is also due to the fact that no item was sold for over $10 million, whereas in 2017’s and 2016’s Geneva auctions there were 3 items in each year that were sold for prices above $10 million. In 2017 we saw the pair of blue and pink pear shaped diamonds that were sold for a combined $57 million and in 2016 we saw a Fancy Vivid Pink diamond sell for $31 million and a blue diamond sell for almost $17 million.
The decrease in sales is compensated by the fact that Sotheby’s managed to break several diamond price records during the auction that night.
The 6.16 carat Fancy Dark Grey-Blue diamond that was estimated to sell fat $3.5 million to $5 million was ultimately sold for $6.7 million, or $1.09 million per carat. A prominent fancy color diamond dealer that was sitting next to me at the auction predicted it would sell for $1.1 million a carat.
The 6.16 carat Fancy Dark Grey-Blue “Farnese Blue” diamond Image credit: Sotheby’s
The pair of Fancy Light Blue and Fancy Light Pink earrings that were estimated to sell at a price between $2.7 million and $3.8 million were sold for $4.4 million total. After inspecting the pair of earrings in person, it was certainly a challenge to see the blue in the earrings. Perhaps it was the lighting in the room; There only seemed a blue tint there. The un-confirmed buyer was a prominent Jewellery Brand from New York who acquired it on behalf of a client. the winner of the bid was #271.
The Fancy Light Blue and Fancy Light Pink earrings Image credit: Sotheby’s
A surprise record breaker was the 9.70 carat Fancy Light Purplish Pink diamond with VS2 clarity. It was estimated to sell at $480k to $674k total, or $49.4k to $69.5k per carat. It ended up selling for a whopping $2,592,716 total or $267.3k per carat. I guess somebody was convinced it can be re-polished into a Fancy Purplish Pink. Most of us did not see an upgrade upon inspection. In the case it is re-polished into a Fancy Purplish Pink, then it was a fantastic and lucrative acquisition. If there is no upgrade there, then somebody will be passing it to the next generation for the purpose of long term value increase. The winner of this lot was also #271 above. Unfortunately because the buyer has not been confirmed, i cannot reveal it here.
The 9.70 carat Fancy Light Purplish Pink VS2 diamond Image credit: Sotheby’s
The 2.63 carat Fancy Vivid Purplish Pink diamond with SI1 clarity was estimated to sell at $1.9 million to $2.88 million ended up selling for $2.41 million, or $917.4k per carat. This is another record breaker, this one for the Fancy Vivid Pink 2-3 carat weight subcategory. The winning bid came from Michel Farrah, a prominent dealer in Geneva with offices in New York and Hong Kong. he was among the attendees.
The 2.63 carat Fancy Vivid Purplish Pink diamond Image credit: Sotheby’s
A 5.04 carat Fancy Purple-Pink pear shaped SI1 diamond was estimated to sell between $1.16 million to $1.73 million. It sold for $1.45 million, or $288.4k per carat. Michel Farrah was the winning bidder as well.
The 5.04 carat Fancy Purple-Pink pear shaped SI1 diamond Image credit: Sotheby’s
The 2.52 carat Fancy Vivid Yellowish Green diamond with a half certificate (which means it has an I Clarity) was sold for $938k, or $372.3k per carat after being estimated to sell between $480k to $769 total or $190.3k to $305.3k per carat. It significantly exceeded its high estimate. The depth of color of this diamond, which was very apparent, was partly due to its green fluorescence.
The 2.52 carat Fancy Vivid Yellowish Green diamond Image credit: Sotheby’s
The 1.43 carat Fancy Deep Bluish Green diamond was sold for $662,417 or $463.2k per carat after being estimated at between $460k to $560k, or $321.4k to $391.2k per carat. Its price above the high estimate is a testament to the demand that bidders had for diamonds of this type of unique color.
The 1.43 carat Fancy Deep Bluish Green diamond Image credit: Sotheby’s
This Sotheby’s auction marks the end of the first half of 2018 for the auction house. They will be working hard to secure diamonds of much higher color grades to keep bidders interested and draw in better sales figures. We look forward to reporting on subsequent sales later this year in all 3 major auction cities – New York, Geneva and Hong Kong. Got any questions about why the auction house couldn’t earn as much this time, or the future for auctions and fancy color diamonds? Ask us in the comments!
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Sotheby’s Geneva Featured Record Low Sales But Several New World Records
Sotheby’s has an annual auction in Geneva in the month of May, and this year’s auction resulted in the lowest total sale for the past five years. Nevertheless, Sotheby’s succeeded in breaking several records for the diamonds and jewelry that they offered. The total sales came to CHF 85,555,050 this year compared to last year’s CHF 150,737,000, a 43% drop. This year also represents a 50% drop from 2016, a year that made the record books for Sotheby’s with CHF 171,018,625 in sales. The sharp drop in sales is also due to the fact that no item was sold for over $10 million, whereas in 2017’s and 2016’s Geneva auctions there were 3 items in each year that were sold for prices above $10 million. In 2017 we saw the pair of blue and pink pear shaped diamonds that were sold for a combined $57 million and in 2016 we saw a Fancy Vivid Pink diamond sell for $31 million and a blue diamond sell for almost $17 million.
The decrease in sales is compensated by the fact that Sotheby’s managed to break several diamond price records during the auction that night.
The 6.16 carat Fancy Dark Grey-Blue diamond that was estimated to sell fat $3.5 million to $5 million was ultimately sold for $6.7 million, or $1.09 million per carat. A prominent fancy color diamond dealer that was sitting next to me at the auction predicted it would sell for $1.1 million a carat.
The 6.16 carat Fancy Dark Grey-Blue “Farnese Blue” diamond Image credit: Sotheby’s
The pair of Fancy Light Blue and Fancy Light Pink earrings that were estimated to sell at a price between $2.7 million and $3.8 million were sold for $4.4 million total. After inspecting the pair of earrings in person, it was certainly a challenge to see the blue in the earrings. Perhaps it was the lighting in the room; There only seemed a blue tint there. The un-confirmed buyer was a prominent Jewellery Brand from New York who acquired it on behalf of a client. the winner of the bid was #271.
The Fancy Light Blue and Fancy Light Pink earrings Image credit: Sotheby’s
A surprise record breaker was the 9.70 carat Fancy Light Purplish Pink diamond with VS2 clarity. It was estimated to sell at $480k to $674k total, or $49.4k to $69.5k per carat. It ended up selling for a whopping $2,592,716 total or $267.3k per carat. I guess somebody was convinced it can be re-polished into a Fancy Purplish Pink. Most of us did not see an upgrade upon inspection. In the case it is re-polished into a Fancy Purplish Pink, then it was a fantastic and lucrative acquisition. If there is no upgrade there, then somebody will be passing it to the next generation for the purpose of long term value increase. The winner of this lot was also #271 above. Unfortunately because the buyer has not been confirmed, i cannot reveal it here.
The 9.70 carat Fancy Light Purplish Pink VS2 diamond Image credit: Sotheby’s
The 2.63 carat Fancy Vivid Purplish Pink diamond with SI1 clarity was estimated to sell at $1.9 million to $2.88 million ended up selling for $2.41 million, or $917.4k per carat. This is another record breaker, this one for the Fancy Vivid Pink 2-3 carat weight subcategory. The winning bid came from Michel Farrah, a prominent dealer in Geneva with offices in New York and Hong Kong. he was among the attendees.
The 2.63 carat Fancy Vivid Purplish Pink diamond Image credit: Sotheby’s
A 5.04 carat Fancy Purple-Pink pear shaped SI1 diamond was estimated to sell between $1.16 million to $1.73 million. It sold for $1.45 million, or $288.4k per carat. Michel Farrah was the winning bidder as well.
The 5.04 carat Fancy Purple-Pink pear shaped SI1 diamond Image credit: Sotheby’s
The 2.52 carat Fancy Vivid Yellowish Green diamond with a half certificate (which means it has an I Clarity) was sold for $938k, or $372.3k per carat after being estimated to sell between $480k to $769 total or $190.3k to $305.3k per carat. It significantly exceeded its high estimate. The depth of color of this diamond, which was very apparent, was partly due to its green fluorescence.
The 2.52 carat Fancy Vivid Yellowish Green diamond Image credit: Sotheby’s
The 1.43 carat Fancy Deep Bluish Green diamond was sold for $662,417 or $463.2k per carat after being estimated at between $460k to $560k, or $321.4k to $391.2k per carat. Its price above the high estimate is a testament to the demand that bidders had for diamonds of this type of unique color.
The 1.43 carat Fancy Deep Bluish Green diamond Image credit: Sotheby’s
This Sotheby’s auction marks the end of the first half of 2018 for the auction house. They will be working hard to secure diamonds of much higher color grades to keep bidders interested and draw in better sales figures. We look forward to reporting on subsequent sales later this year in all 3 major auction cities – New York, Geneva and Hong Kong. Got any questions about why the auction house couldn’t earn as much this time, or the future for auctions and fancy color diamonds? Ask us in the comments!
Related Posts
- Fancy Color Diamonds Are Getting Harder For Auction Houses To Find
- Sotheby’s Hong Kong Auction Yields Mixed Results
- A Large Blue Diamond Will Be Featured At Sotheby’s Hong Kong Magnificent Jewels & Jadeite
- What Has Gone Wrong During The Sotheby’s Hong Kong Magnificent Jewels and Jadeite Auction?
- Sotheby’s Geneva Results Showing Investors And Collectors Looking For The Highest Quality Fancy Color Diamonds
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Sotheby’s Geneva Featured Record Low Sales But Several New World Records
Sotheby’s has an annual auction in Geneva in the month of May, and this year’s auction resulted in the lowest total sale for the past five years. Nevertheless, Sotheby’s succeeded in breaking several records for the diamonds and jewelry that they offered. The total sales came to CHF 85,555,050 this year compared to last year’s CHF 150,737,000, a 43% drop. This year also represents a 50% drop from 2016, a year that made the record books for Sotheby’s with CHF 171,018,625 in sales. The sharp drop in sales is also due to the fact that no item was sold for over $10 million, whereas in 2017’s and 2016’s Geneva auctions there were 3 items in each year that were sold for prices above $10 million. In 2017 we saw the pair of blue and pink pear shaped diamonds that were sold for a combined $57 million and in 2016 we saw a Fancy Vivid Pink diamond sell for $31 million and a blue diamond sell for almost $17 million.
The decrease in sales is compensated by the fact that Sotheby’s managed to break several diamond price records during the auction that night.
The 6.16 carat Fancy Dark Grey-Blue diamond that was estimated to sell fat $3.5 million to $5 million was ultimately sold for $6.7 million, or $1.09 million per carat. A prominent fancy color diamond dealer that was sitting next to me at the auction predicted it would sell for $1.1 million a carat.
The 6.16 carat Fancy Dark Grey-Blue “Farnese Blue” diamond Image credit: Sotheby’s
The pair of Fancy Light Blue and Fancy Light Pink earrings that were estimated to sell at a price between $2.7 million and $3.8 million were sold for $4.4 million total. After inspecting the pair of earrings in person, it was certainly a challenge to see the blue in the earrings. Perhaps it was the lighting in the room; There only seemed a blue tint there. The un-confirmed buyer was a prominent Jewellery Brand from New York who acquired it on behalf of a client. the winner of the bid was #271.
The Fancy Light Blue and Fancy Light Pink earrings Image credit: Sotheby’s
A surprise record breaker was the 9.70 carat Fancy Light Purplish Pink diamond with VS2 clarity. It was estimated to sell at $480k to $674k total, or $49.4k to $69.5k per carat. It ended up selling for a whopping $2,592,716 total or $267.3k per carat. I guess somebody was convinced it can be re-polished into a Fancy Purplish Pink. Most of us did not see an upgrade upon inspection. In the case it is re-polished into a Fancy Purplish Pink, then it was a fantastic and lucrative acquisition. If there is no upgrade there, then somebody will be passing it to the next generation for the purpose of long term value increase. The winner of this lot was also #271 above. Unfortunately because the buyer has not been confirmed, i cannot reveal it here.
The 9.70 carat Fancy Light Purplish Pink VS2 diamond Image credit: Sotheby’s
The 2.63 carat Fancy Vivid Purplish Pink diamond with SI1 clarity was estimated to sell at $1.9 million to $2.88 million ended up selling for $2.41 million, or $917.4k per carat. This is another record breaker, this one for the Fancy Vivid Pink 2-3 carat weight subcategory. The winning bid came from Michel Farrah, a prominent dealer in Geneva with offices in New York and Hong Kong. he was among the attendees.
The 2.63 carat Fancy Vivid Purplish Pink diamond Image credit: Sotheby’s
A 5.04 carat Fancy Purple-Pink pear shaped SI1 diamond was estimated to sell between $1.16 million to $1.73 million. It sold for $1.45 million, or $288.4k per carat. Michel Farrah was the winning bidder as well.
The 5.04 carat Fancy Purple-Pink pear shaped SI1 diamond Image credit: Sotheby’s
The 2.52 carat Fancy Vivid Yellowish Green diamond with a half certificate (which means it has an I Clarity) was sold for $938k, or $372.3k per carat after being estimated to sell between $480k to $769 total or $190.3k to $305.3k per carat. It significantly exceeded its high estimate. The depth of color of this diamond, which was very apparent, was partly due to its green fluorescence.
The 2.52 carat Fancy Vivid Yellowish Green diamond Image credit: Sotheby’s
The 1.43 carat Fancy Deep Bluish Green diamond was sold for $662,417 or $463.2k per carat after being estimated at between $460k to $560k, or $321.4k to $391.2k per carat. Its price above the high estimate is a testament to the demand that bidders had for diamonds of this type of unique color.
The 1.43 carat Fancy Deep Bluish Green diamond Image credit: Sotheby’s
This Sotheby’s auction marks the end of the first half of 2018 for the auction house. They will be working hard to secure diamonds of much higher color grades to keep bidders interested and draw in better sales figures. We look forward to reporting on subsequent sales later this year in all 3 major auction cities – New York, Geneva and Hong Kong. Got any questions about why the auction house couldn’t earn as much this time, or the future for auctions and fancy color diamonds? Ask us in the comments!
Related Posts
- Fancy Color Diamonds Are Getting Harder For Auction Houses To Find
- Sotheby’s Hong Kong Auction Yields Mixed Results
- A Large Blue Diamond Will Be Featured At Sotheby’s Hong Kong Magnificent Jewels & Jadeite
- What Has Gone Wrong During The Sotheby’s Hong Kong Magnificent Jewels and Jadeite Auction?
- Sotheby’s Geneva Results Showing Investors And Collectors Looking For The Highest Quality Fancy Color Diamonds
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