Moussaieff Blue Diamond Leads Christie’s Hong Kong Sale

The market continues to favor blue diamonds over any other color, and the Moussaeiff Blue Diamond proved it in this week’s auction. The Etcetera blue diamond also garnered a high price as well. Neither broke a world record, but both still showing price strength relative to rarity. I followed the auction closely from the live internet feed in order to see how the important fancy color diamonds would perform. From an investor’s standpoint, it is very interesting to see not only the start and end prices of these pieces, and whether or not they meet their reserve price, but also how quickly the diamonds sell, in what increments the bidders up the ante, how high buyers are willing to go, and whether the diamonds even sell at all! It is fascinating to witness and I took screenshots of the pieces as they sold for your viewing pleasure as well, which I included in my synopses of their price behaviors below.

Moussaieff Blue Diamond

The 3.98 carat, Fancy Vivid Blue Diamond by Moussaieff was valued to sell at a price between $8.3 million to $11 million, or $2 million to $2.76 million per carat. It ended up selling for a total of $8,879,821 or $2,231,110 per carat. Although it sold at the lower level of the valuation, it still signals a price strength for rarity.  The reality is that you can’t just call up your local jeweler or even a manufacturer and ask for such a diamond. Fewer and fewer blue diamonds are available on the market, and the strong price proves it. If the trend continues that less such rarities are available on the market, prices will continue to increase as demand continues to increase in a consistent matter.

The 3.98 carat Fancy Vivid Blue diamond by Moussaieff at auction

Etcetera Blue Diamond

The 3.37 carat Fancy Intense Blue hexagon shaped diamond by Etcetera had a very low valuation of between $619k to $839k in total! It ended up selling for a total of $2,793,159 or $828,830 per carat. Again, this is not a world record but demonstrates price strength consistency. It also had an unusual hexagonal shape, so it was really unique and had great character.

The 3.37 carat Fancy Intense Blue diamond ring by Etcetera          Image credit: Christie’s

What Missed Its Mark and Went Back To Its Owner?

The 5.28 carat Fancy Intense Green diamond did not sell. It was valued to sell at a price between $2.3 million to $3.6 million. Although it may have a rare grade of Fancy Intense Green on its GIA certificate, it obviously did not impress investors. The center of the table was round, giving the indication that the diamond was recut from a round brilliant shape into its current cut cornered shape, so something seemed off in its appearance.


The 5.28 carat Fancy Intense Green diamond ring          Image credit: Christie’s

The red diamond Scott West brooch also failed to sell. Scott West from L.J. West in New York is still building its brand in the global scene, and we can sense this in the brooch’s failure to sell. It follows another failed sale by this brand – a 3.04 carat Fancy Intense Blue Diamond failed to sell last year when it was offered by Bonham’s in Hong Kong. Scott continues to work hard, and has much more success in North America, it’s home territory, as opposed to in Asia. When it comes to red diamonds, one of the rarest color, there is a large selection of diamonds under 0.50 carat in the world, but over a carat it is quite rare. I am sure the center piece of the brooch, the only red diamond there that is greater than 1.00 carat, can garner a significant value if sold on its own.

The Scott West by LJ West red diamond brooch at auction

Another piece that failed to sell was the pink and blue diamond bracelet. It did not meet its reserve value. Investors and specialty buyers do their homework properly and know the market and the availability of items on the market, so the bracelet was not as highly demanded as the auction house hoped.

The pink diamond and blue diamond bracelet at auction

Unique Pink Diamond Earrings Sold!

The pair of Fancy Purplish Pink diamonds sold for $3,391,509 total or $392,082 per carat. Their final price was quite strong despite the fact that they are graded “just” Fancy Purplish Pink. If the earrings would have sold under a global brand name, they would have earned a stronger price, as we saw with the two blue diamonds above. I think they would have sold for another 15-20% above their acquisition price.

The Fancy Purplish Pink diamond earrings at auction

Christie’s Hong Kong auction closes off the auctions for May, and there is another auction coming up in June in New York. We will see a unique diamond at that auction by Christie’s. That auction will close the first half of the year for diamond and jewelry auctions.

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