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Christie's Sets Sale Record With 'The Orange' Diamond at $36M

Nov 12, 2013 5:42 PM   By Francesco Rosa
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RAPAPORT... Christie's Geneva autumn sale of magnificent jewels totaled $125,360,131, against a presale estimate of $70 million to $80 million, and was 89 percent sold by lot. As expected, the top lot of the evening,  ''The Orange,'' an extremely rare, 14.82-carat, VS1, fancy vivid orange, pear-shaped diamond, broke an auction record, which sold for $35,540,611 or $2,398,151 per carat. The presale estimate was $17,414,966 to $20,680,273. orange diamond

''The Orange'' is the largest fancy vivid orange diamond graded to date by the Gemological Institute of America (GIA) and broke two new world auction records: the world record price per carat for any colored diamond at auction and the world auction record for a fancy vivid orange diamond. It was purchased by a private collector present in the sale room who, for the time being, wishes to remain anonymous.

Bidding throughout the two-session sale was fierce across the board, with high prices achieved for diamonds, natural pearls, colored stones and signed jewels. Overall, 22 lots achieved over $1 million.

Other top lots from the sale included the Patiño emerald and diamond necklace by Cartier that fetched $9.9 million (CHF 9.1 million) and a seven-strand natural pearl necklace which sold for $9 million (CHF.8.3 million).

A 58.29-carat cushion-shaped sapphire mounted in a multi-gem Côte d’Azur brooch designed by Anna Hu sold for $4.5 million (CHF 4.2 million) or $78,400 per carat, and set a world auction record per carat for a Burma sapphire and a record price for a contemporary designer.

An Art Deco emerald and diamond necklace by Van Cleef & Arpels, formerly from the collection of Princess Faiza of Egypt, achieved $4.2 million (CHF 3.8 million).

Additional reporting provided by Deena Taylor.
Tags: auction, Christie's Geneva, diamonds, Francesco Rosa , Jeff Miller, jewels, orange, sale
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