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Colored Diamonds Lead $60M Sotheby’s Sale

Nov 18, 2018 6:58 AM   By Rapaport News
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RAPAPORT... Sotheby’s garnered $59.9 million at its Geneva auction last week as a 21.19-carat pink diamond smashed its estimate with a final price of $7.4 million.

The cushion-shaped, fancy-light-pink, VVS2-clarity, type IIa diamond fetched $347,601 per carat, Sotheby’s reported following the Thursday sale. It had a presale valuation of $4.5 million to $6.5 million.

The Magnificent Jewels & Noble Jewels auction also featured a brilliant-cut, 2.02-carat, fancy-intense-blue, internally flawless diamond that went for $3.4 million ($1.7 million per carat), beating its estimate of $2 million to $3 million.

Meanwhile, a step-cut, 25.77-carat, D-color, VVS1-clarity diamond ring signed by Italian jeweler Pederzani sold for $3.1 million ($118,584 per carat), within the range of $3 million to $3.9 million that Sotheby’s had expected. The stone, featuring baguette diamonds on its flanks, “may be internally flawless after minor repolishing,” the auction house cited a Gemological Institute of America report as saying.

The auction capped off a record-breaking week at Sotheby’s Geneva. It brought in $53.1 million at a sale of jewels from the Royal Bourbon Parma family on Wednesday, the highest-value auction of royal jewels in history, the company said. That sale included a natural pearl and diamond pendant once belonging to Marie Antoinette, which went for $36.2 million, well above its estimate of $1 million to $2 million.

Image: A 21.19 carat, fancy-light-pink diamond ring that sold for $7.4 million. (Sotheby’s)
Tags: Auctions, colored diamonds, Fancy light pink, geneva, Magnificent Jewels & Noble Jewels, Marie Antoinette, Pederzani, Rapaport News, Sotheby’s
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