Advanced Search

No Buyer for 3ct. Blue Diamond at Sotheby’s

Jun 24, 2020 9:30 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

A 3.01-carat, fancy-vivid-blue diamond ring carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby’s Geneva auction.

Sotheby’s withdrew the stone from Tuesday’s Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a total of $12.4 million, was the auction house’s first live event since the onset of the coronavirus pandemic, and followed Part I, which took place online.

An oval-shaped, 21.56-carat, D-color, VVS1-clarity diamond ring by Lorraine Schwartz, valued at $1.5 million to $2 million, also went unsold. Other colored diamonds were not purchased, including a duet ring set with a pear-shaped, 3.03-carat, fancy-intense-blue diamond and a pear-shaped, 2.82-carat, D-color, VVS1-clarity diamond, as well as a step-cut, fancy-vivid-yellow diamond ring weighing 16.43 carats.

Meanwhile, the top-selling lot at the sale was a marquise-shaped, 7-carat, fancy-intense-pink diamond ring, which was auctioned for the first time after spending 30 years in a private collection. The piece sold for $2.8 million, within its $2.4 million to $3.4 million estimate.

Other notable items included a pear-shaped, 5.29-carat, fancy-grey-blue diamond ring, which garnered $2.1 million, beating its $1.2 million high estimate. A pair of cushion-shaped, D-color, VVS2-clarity diamond earrings, weighing 13.50 carats and 13.52 carats, fetched $1.5 million against an estimate of $1.2 million to $1.8 million.

Sapphires also proved popular, with a cushion-shaped, 105.89-carat ring going for $1.7 million, more than double its $670,000 high estimate. A cushion-shaped, 16.11-carat sapphire ring bracketed by diamonds also sailed past its $490,000 upper valuation, achieving $524,000.

Image: The 3.01-carat blue diamond. (Sotheby’s)
Tags: Lorraine Schwartz, Magnificent Jewels and Noble Jewels, Magnificent Jewels and Noble Jewels Part II, Magnificent Jewels Geneva, Rapaport News, Sotheby’s
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
Sep 23, 2021
Trading quiet during Jewish and Indian festivals. China slowdown injects caution into the market.
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.