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Sotheby’s NY Sets Record with Kashmir Sapphire

Apr 30, 2014 10:33 AM   By Amber Michelle
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RAPAPORT... Sotheby’s New York auction, held Tuesday, April 29, continued the trend of level prices for top-quality diamonds, while lower color diamonds — J,K,L — between 5 carats and 15 carats saw remarkably strong prices.  These stones are still affordable for both the trade and the consumer and are a lot of look for the money.

The sale tallied up $44,313,500 and was sold 81.8 percent by lot and 87 percent by value.  The top lot of the day was  a 15.23-carat fancy intense, orangey pink diamond that sold to a U.S. private for $6,101,000, or $400,590 per carat, against a presale estimate of $6 million to $7 million. Of particular note was the second top lot of the day, a 28.18-carat Kashmir sapphire and diamond ring that sold to an anonymous buyer for  $5,093,000 or $180,731 per carat, setting a world auction record per carat price for a Kashmir sapphire. Bidding throughout the day was swift and decisive with prices staying within the estimates.


Tags: Amber Michelle, auction, diamonds, gemstones, Jewelry, Kashmir sapphire, results, Sotheby's
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