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Pink Diamond Finds No Buyers at Bonhams

May 7, 2019 4:26 AM   By Rapaport News
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RAPAPORT... Two top items failed to sell at Bonhams' New York auction last week, including a rare fancy orangey-pink diamond. 

The 12.62-carat stone, which was valued at $1.5 million to $2 million, was the lead lot in the New York Jewels sale. The second most expensive piece, a cushion-shaped, 15.23-carat Kashmir sapphire, estimated at $1.3 million to $1.8 million, also went unsold. 

Both pieces are currently involved in post-sale negotiations, Brett O'Connor, senior vice president and senior international jewelry director for Bonhams, told Rapaport News Monday.

“This particular stone had to be missing the magic that would attract a buyer to its million-dollar estimate,” Alan Bronstein, president of the Natural Color Diamond Association, told Rapaport News of the pink diamond. “But one stone does not suggest a trend up or does not imply a general negativity.” 

In the first quarter of the year, prices of pink fancy-color diamonds outperformed blue and yellow categories, rising 0.5% compared to the previous three months, according to data from the Fancy Color Research Foundation.

Image: The 12.62-carat orangey-pink diamond ring. (Bonhams)
Tags: Alan Bronstein, bonhams, Bonhams New York, Fancy Color Research Foundation , natural color diamond association, New York Jewels, Pink Diamond, Rapaport News
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