12ct. Blue Diamond Smashes Estimate at Christie’s

Jul 12, 2020 7:37 AM By Rapaport News

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RAPAPORT... A blue diamond ring was the top seller at Christie’s Hong Kong in the first live Magnificent Jewels auction since the Covid-19 pandemic began.

The piece, featuring a marquise-cut, 12.11-carat, fancy-intense-blue, internally flawless stone, went for $15.9 million at the July 9 sale, against its high estimate of $12.3 million. The diamond sold following 15 minutes of fierce bidding, fetching $1.31 million per carat, Christie’s said last week.

Some 82% of lots sold at the auction, yielding a total of $39.8 million. The event was 92% sold by value of items available.

Other notable items included a necklace featuring a 19.53-carat Burmese star ruby pendant, which brought in $2.7 million, or $136,000 per carat. That piece was estimated at $2.3 million to $3.6 million. A cut-cornered rectangular step-cut, D-color, internally flawless, type IIa diamond ring weighing 17.95 carats garnered $1.6 million, within its $1.3 million to $1.9 million valuation.

Meanwhile, another marquise-cut, fancy-intense-blue diamond also performed well. The 2.08-carat, internally flawless stone went for $1.5 million, or $719,000 per carat, beating its $1.3 million high estimate. A Kashmir sapphire and diamond necklace also fetched well above its $1 million high valuation, going for $1.5 million.

Also popular was a pair of jadeite, ruby and diamond earrings, which more than doubled its $493,000 low estimate, bringing in $1.3 million at the auction.

“Collectors from 14 countries and 5 continents around the world bid enthusiastically,” said Vickie Sek, chairman of jewelry for Asia Pacific at Christie’s. She added that jewels achieved “strong prices for top-quality diamonds, jadeite and rubies.”

The auction house will hold its live Geneva Magnificent Jewels sale on July 22, followed by its New York event on July 29.

Image: The marquise-cut, 12.11-carat, fancy-intense-blue diamond. (Christie’s Images Ltd. 2020)

Tags: Christie’s, Christie’s Magnificent Jewels, Geneva Magnificent Jewels, Hong Kong Magnificent Jewels, Magnificent Jewels, Rapaport News, Vickie Sek