Will Moussaieff Pink Diamond Revive Christie’s Auction House?

On May 28, 2019, Christie’s will hold its Annual Hong Kong Magnificent Jewels auction and will offer an extremely rare Pink and Blue diamonds, among other, very unique, Fancy Color Diamonds. Is anybody wondering why Moussaieff did not feature her 3.44 carat, Fancy Vivid Purplish Pink diamond in Geneva? the answer is quite simple; currently the top real buyers of unique items remain to be asian investors and collectors.

The top lot is the Moussaieff 3.44 carat, Fancy Vivid Purplish Pink diamond with an Internally Flawless clarity. Moussaieff named it “The Bubble Gum Pink”. It is being valued at between $6 million to $8.3 million or $1.74 million to $2.4 million per carat. Believe it or not, but this price is more than competitive, and we might see a record here. Why? Although the diamond is not the largest in the world, it is one of the rarest. There are less than a handful of diamonds in such a size, and even less in such a clarity, currently available on the market. There are simply no Vivid Pink diamonds of such size in the market. The last time a diamond of such color, size and clarity was offered in auction was 2012, when a 3.28 carat, Fancy Vivid Pink with IF clarity was sold for $993k per carat. The only element that may hinder would be the strong Blue Fluorescence. I am also not excited that a new certificate was not requested. Normally, after 5 years, an updated certificate should be issued.

The second top lot during the auction is a 3.01 carat, Fancy Vivid Blue Diamond with a VS1 clarity. It is valued at between $4.9 million to $7 million or $1.63 million to $2.3 million per carat. In November 2018 and April 2019, two diamonds in such sizes failed to sell at auction.

The third highest and unique Fancy Color Diamond is an 8.13 carat, Fancy Vivid Yellow with a VVS1 clarity and excellent Polish and Symmetry. It is valued at between $871k to $1.13 million or $107k to $139k per carat. This past year, unique Fancy Vivid Yellow have been making a huge comeback in prices and sustaining them.

A 7.47 carat, Fancy Vivid Yellow with a VVS2 clarity and both excellent polish and symmetry is also being offered. It is valued between $551k to $833k or $73.8k to $111.4k per carat. This too is a strong valuation. It comes down to rarity.

A 3.55 carat, Fancy Orangy Pink diamond with an Internally Flawless clarity by Cartier is being offered for sale. It is valued between $512k to $768k total or $144k to $216k per carat. If the color is strong enough, this valuation is in the right direction, although it is a 50% spread which is quite a bit. Most likely that the ring was purchased for a much higher price than it is being auctioned for.

A 7.77 carat, Faint pink is being offered. It is valued between $461k to $717k or $59k to $92k per carat. The image seems to have a much stronger saturation than in reality for a faint pink. At least if it was a light pink, then perhaps, but the image is modified. There is also a strong possibility that the inside of the ring has been “painted” to give the diamond a stronger saturation color. I recommend that the potential buyer asks to see the diamond loose.

A 2.03 carat, Fancy Intense Blue Diamond with a VVS2 clarity is being offered. Its unique shape, makes it an interesting piece. It is valued between $358k to $487k or $176k to $240k per carat. This is a low valuation for a 2 carat Intense Blue diamond, so either the color is not strong, or it will need to be recut and lose weight.

A 5.02 carat, light pink with an Internally Flawless clarity and heart shape is being valued at between $256k to $384k or $51k to $77k per carat.

A 0.85 carat, Fancy Intense Pink, heart shape, diamond is being valued at between $205k to $320k or $241k to $377k per carat. I think it is a bit over valued due to its half certificate, and the fact that it is below a carat in size. Let’s see what the market evaluates it at.

A beautiful pair of pink earrings are being offered. There are 4 pink diamonds in various intensities from purplish pink to vivid pink. All are under a carat, and majority in low clarity. It is valued between $205k to $320k. It is signed Boghossian.

A nice 2.70 carat, Fancy Dark Grey diamond with a VS2 clarity is being offered with 2 pink side diamonds set in a ring. It is valued at $166.5k to $230.5k. Being a non investment in my view, it is still a beautiful ring to won. I am just wondering if it will sell at these levels and the fact that the certificates are over 5 years old as well.

This pink diamond jewelery set is being offered for $154k to $231k in total. It has a combination of very light and light pink diamonds and clarities between VS2 to Internally Flawless. It may not be considered a pure investment piece at this time, but it may will be at some point in the future as rarity will play a role. Once the stronger intensity diamonds will no longer be available, investors will have to settle for less.

The last piece I want to mention is the 1.01 carat, fancy intense pink diamond with SI1 clarity. It is set in a nice ring surrounded by colourless diamonds. It is valued at between $128k to $192k in total. The value has surely increased over the last 16 years as the GIA report is dated back to 2003. 

In the last 6 months or so, prices for Vivid Blue Diamonds have shown flat price stagnation, except for some specific sizes and intensities. After Asia, the middle east would be the next hot buying area. Europe is taking a step back due to conservative approach. The USA continues on a flat trend. I will address current market prices for Fancy Color Diamonds at the end June for mid year review.

We look forward to reporting the results after the auction.