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RAPAPORT... A round of applause erupted at Sotheby’s New York auction when The Ultimate Emerald Cut Diamond, a 100.20-carat D, IF type IIa estimated at $19 million to $25 million sold for $22,090,000 or $220,459 per carat to an anonymous buyer on the phone.  The jewel has the distinction of being the first 100-carat plus diamond ever sold at a Sotheby’s New York auction as well as the highest per carat price of any colorless diamond sold at a New York auction. It is also the largest perfect emerald-cut diamond ever sold at any auction and it is one of only six diamonds over 100 carats to sell at auction in the past 25 years. The sale tallied up $65,086,500 against a presale estimate of $59 million to $77 million, setting a new record for a total garnered at a Sotheby’s New York auction. The 368 lot sale was sold 79.9 percent by lot and 84.4 percent by value with 294 of the lots changing hands. Overall, white diamonds sold well, bucking the difficult market trend. Prices were reasonable with most stones staying within their estimates and selling briskly in all quality ranges. Colored diamonds did well also, bringing in very respectable prices in what can be described as a finicky market with buyers shying away from anything that is not well priced. It comes as no surprise that unique colored gemstones and signed jewelry were strong sellers, especially Cartier Art Deco and a selection of Art Moderne jewelry by Andre Rivaud, Gerard Sandoz and Jean Depres, that rarely comes up for sale. While it was a quiet sale with a very strong total, buyers were more discreet in their purchases paying strong, but sane sums for top-quality gems and jewelry.
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