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Top Diamond Lot Fails to Sell at Sotheby’s NY

Sep 26, 2016 12:41 PM   By Rapaport News
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RAPAPORT... Sotheby’s Important Jewels sale in New York garnered $9 million as its headline piece failed to find a buyer.

Bids for the oval, 27.35-carat, D-color, VS2-clarity diamond and platinum ring did not meet its reserve price after Sotheby’s estimated it would sell for $2 million to $2.5 million, or up to $91,408 per carat. The auctioneer did not disclose the highest bid it received for the stone.

The top selling lot was a Bulgari ring comprising a cushion-cut, 24.72-carat sapphire surrounded by pear-shaped diamonds with a total carat weight of 9 carats. The hammer price of $706,000 was well above the pre-sale estimate of $250,000 to $350,000.

Separately, a platinum ring featuring a marquise-shaped, 10.10-carat, D-color, VVS2-clarity diamond flanked by two tapered baguette diamonds sold for $634,000, also beating its estimate of $300,000 to $400,000.
Tags: Auctions, Bulgari, Important Jewels, new york, Rapaport News, Sotheby’s
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