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118ct. Yellow Smashes Estimate at Christie’s
May 16, 2019 8:29 AM
By Rapaport News
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RAPAPORT... A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie’s Geneva auction Wednesday.
The cushion brilliant-cut, 118.05-carat, fancy-yellow,
VS2-clarity stone fetched $7.1 million, or $60,000 per carat, at the
Magnificent Jewels auction. The diamond, which
was estimated at $2.5 million to $3.5 million, was purchased by Siba Corp. in
honor of its former president. The company subsequently named it The Siba Diamond.
Three ruby pieces broke the top 10, all selling for well
above their estimates. A 22.86-carat Burmese ruby ring by Harry Winston went
for $7.2 million against its high estimate of $3 million, a final price of $314,900
per carat. Meanwhile, a Van Cleef & Arpels ruby and diamond necklace, which
was valued at $400,000 to $600,000, garnered $2.4 million, and a ruby and
diamond bracelet by the same jeweler fetched $1.6 million. That piece was estimated
at $150,000 to $250,000.
A necklace comprising 110 natural pearls achieved $5.8
million, well above its high estimate of $3.5 million. All other pearl pieces
of note offered at the sale also exceeded their original estimates, Christie’s said.
Other notable lots included a pear-shaped, 75.61-carat
emerald pendant necklace that belonged to the Grand Duchess Vladimir of Russia,
which sold for $4.3 million, or $57,300 per carat. It was estimated at $2.3
million to $3.5 million.
“Natural pearls and jewels with noble provenance, such as
the 75.61-carat emerald from Grand Duchess Vladimir of Russia, found much
acclaim and sold for far above their presale estimates,” said Rahul Kadakia,
Christie’s international head of jewelry. “Also of note was the 118-carat,
fancy-yellow diamond that was purchased by Siba Corp. in honor of Sam Abram, a
prominent figure in the jewelry world, who very sadly passed away last week.”
In addition, the rectangular-cut, 25.27-carat, D-color
Jonker V diamond connected to Anglo American founder and former De Beers
chairman Sir Ernest Oppenheimer fetched $3 million against a valuation of $2.5
million to $3.5 million.
Christie’s sold 87% of all lots on offer, it said. The sale brought in a combined $62.1 million.
Image: The Siba Diamond. (Christie’s)
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Tags:
Anglo American, Christie’s, Christie’s Geneva auction, De Beers, Grand Duchess Vladimir of Russia, Harry Winston, Jonker V, Magnificent Jewels auction, Rahul Kadakia, Rapaport News, Sam Abram, SIBA Corp, Sir Ernest Oppenheimer, Van Cleef & Arpels
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