3.50ct. Blue Diamond Sets Record at Sotheby’s

Apr 22, 2018 6:17 AM By Rapaport News

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RAPAPORT... Sotheby’s garnered $34 million across three sales that made up its New York spring auctions, with a rare fancy intense blue diamond ring standing out as the highlight of the event. The combined auctions were 83.3% sold by lot.

The cut-cornered, rectangular, step-cut 3.47-carat stone (pictured) set a price-per-carat world record for a blue diamond, selling for $1.9 million per carat at the Magnificent Jewels Auction, Sotheby’s said Friday. The $6.7 million final price nearly tripled Sotheby’s pre-sale estimate of between $2 million and $2.5 million.

Other top sellers were a 72.96-carat diamond bracelet, which sold for $1.4 million, and a 13.70-carat Tiffany & Co. diamond ring, which yielded $1.2 million, beating its estimate of $600,000 to $800,000. Among the lots that failed to sell were a 7.01-carat fancy intense pink diamond ring, estimated at $4.2 million to $5.2 million, and a 7.37-carat emerald-cut fancy intense orangey-pink diamond ring, evaluated at $3 million to $5 million. The magnificent Jewels sale totaled $26.2 million.

Sotheby’s also brought in a total of $2.8 million at the Jeweler’s Eye auction of Fred Leighton’s personal collection, which included his jewelry, furniture and accessories. The event saw $1.6 million in jewelry sales, which featured emerald and ruby pieces.

The Fine Jewels sale totaled $5.8 million, and included a 52.89-carat sapphire and diamond ring by Cartier that fetched $6.2 million, the highest price ever achieved at a Sotheby’s New York Fine Jewels sale, the auction house said.

“It’s very encouraging to see the response to jewelry offered across all price points, which attracted a broad international group of buyers,” said Kendall Reed, head of Sotheby’s fine jewels in New York.

Tags: auction, Cartier, Fine jewels, Fred Leighton, Jeweler’s Eye, Kendall Reed, Magnificent Jewels auction, Rapaport News, Sotheby’s, Sotheby’s New York, Tiffany & CO.