RAPAPORT... During these days of economic uncertainty, Christie’s sale total of $46,513,050 for October 21 seems almost miraculous. It was a total close to the market’s peak in April 2008, which brought in $49,884,875. Boosting the bottom line was the sale of the Annenberg Diamond, which sold for $7,698,500, or $240,578 per carat, a record for a colorless diamond. The price shattered the previous per-carat record price for a colorless diamond, which was $208,000. That sum was paid for a 16-carat diamond at Christie’s Hong Kong sale in May of 2008. Estimated at $3 million to $5 million, the 32.01-carat, D flawless, rectangular cut IIa diamond was a must-have for a few elite buyers who bid vigorously for the stone, which finally went to an anonymous buyer.

Besides the Annenberg Diamond, four other lots topped the $1 million mark. An Asian private scooped up a 16.33-carat, E internally flawless, round diamond for $1,583,300, or $97,000 per carat. A pair of ear pendants with a 7.18-carat, pear-shaped fancy blue and an 8.04-carat, pear-shaped fancy light pink sold to an Asian private for $1,426,500. Also finding its way to an Asian private was a pair of earrings showcasing D internally flawless, pear-shaped diamonds weighing 7.51 and 8.18 carats, which sold for $1,202,500. The final lot that soared over the coveted million mark was a Belle Epoque Cartier diamond and rock crystal bow brooch, which sold for $1,082,500. The 385 lot sale was sold 85 percent by lot and 94 percent by value to buyers from all over the world, with strong activity from privates and the Asian market.

For full auction coverage, see the Rapaport Diamond Report November 2009 issue.

LH