Geneva--Two blue diamonds broke records Tuesday in Geneva at Sotheby's "Spring Sales of Magnificent and Noble Jewels" in yet another display of the strength of natural colored diamonds at auctions worldwide.
In what Sotheby's terms the "standout moment of the day," a 7.64-carat, cushion-shaped fancy intense blue diamond mounted in a ring sold for $8.03 million, or $1.05 million per carat, following fierce competition from three buyers. According to a news release from Sotheby's, the sale sets a new record per-carat price for a fancy intense blue diamond sold at auction.
The second blue diamond, a 5.02-carat fancy vivid stone set with a 5.42-carat white diamond in a toi et moi (you and me) ring from French jeweler Alexandre Reza, sold for $6.32 million. The sale set a new auction record price for a jewel by any French designer, according to Sotheby's.
Overall, Sotheby's spring sale totaled $53.98 million, exceeding pre-sale estimates of $32.4 million to $46 million. The auction sold 88 percent by lot and 97 percent by value, with more than 74 percent of the lots sold exceeding their high estimates, according to Sotheby's.
The second-highest selling lot of the day behind the $8 million blue diamond was a 52.82-carat, emerald-cut diamond sold to a U.S. dealer for $7.93 million.
The auction included some jewels with celebrity provenance, such as a group of four pieces from the collection of Brazil's renowned goodwill ambassador for Unesco, Lily Marinho, which sold for a total of $1.28 million, more than double their combined pre-sale estimate.
In addition, Sotheby's again saw strong results in its fourth dedicated sale of Noble Jewels in Geneva. Consisting of jewels that once belonged to royalty, the Noble Jewels portion of Tuesday's sale surpassed its pre-sale high estimate of $6.5 million, bringing in $8.2 million. The centerpiece of the Noble Jewels collection was a diamond necklace by Chiappe, designed as a graduated rivière of 28 circular-cut diamonds. The total weight of the necklace, which is from the collection of an Italian noble family, is more than 160 carats.
"Today's outstanding results once again demonstrate the vibrancy and depth of the international jewelry market and the enormous appetite throughout the world for jewels and gemstones of the very best quality," David Bennett, chairman of Sotheby's International Jewellery department for Europe and the Middle East, said in the release. "The prices achieved tonight for the two blue diamonds and also the spectacular 52.82-carat white diamond were much deserved, as these were all gems of the highest quality and rarity, and it was also heartening to see our fourth dedicated sale of Noble Jewels perform so well once again, exceeding the pre-sale estimate by a large margin. We are absolutely delighted with the results of today's sales, which have performed superbly well in every category."
http://www.nationaljewelernetwork.com/njn/content_display/fashion/jewelry-auctions/e3ibff1f88d055b04ef6ddf4923a6313e05
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