Fancy color diamond news and auction results

Elizabeth Taylor’s legendary Jewelry collection made auction history in a two day bidding marathon two weeks ago at Christie’s New York. The two day auction resulted in a combined total of $137.2 million. Making it both the most valuable private jewelry collection ever sold as well as the most valuable in auction history. The high points of the two day event took everyone by surprise as an antique garland-designed necklace with suspended natural and rose cut diamonds surpassed its estimate of $150,000.00 and sold for close to $1.5 million. The Burton wedding bands produced the second surprise selling at a little over $1 million. Well above the estimated $8,000… after only 15 minutes of bidding.

 

A yellow diamond weighing 6.67 carats was discovered on Tuesday at the Crater of Diamonds State Park in Arkansas. Described as the size of a marble, the diamond is the second-largest stone discovered at the park this year (after the 8.66-carat white diamond discovered in April by Beth Gilberton) and the ninth-largest stone discovered at the site since the park was founded. 

 

According to Research and Markets after following a steep but short decline in sales in 2009, the global luxury market is thriving once more. Affluent consumers are returning to premium brands and those with newfound wealth are discovering them for the first time. Verdict forecasts that the market will grow 65% between 2010 and 2015 

 

GemePrice™, the revolutionary online wholesale pricing system that allocates prices to fancy colored diamonds as well as to gemstones according to the color codes generated by Gemewizard®, was officially launched on November 15 at the Israel Diamond Exchange in Ramat Gan, Israel. More than 200 leading diamond and gem traders, Gemologists and other diamond professionals crowded into the Cullinan restaurant in the diamond exchange complex, leaving many participants with standing room only. 

The GemePrice™ database contains:

  • Commercial names and prices of almost 400 fancy colored diamonds.

  • Color combinations and over 50 types of the most traded gemstones with a visual display of over 15 shapes.

  • Grades and Qualities.

 

Auction Results 

Christie’s Hong Kong Magnificent Jewels Sale held on 29 November 2011, broke records for the sale of colorless diamonds at auctions in Asia. On the whole, the auction generated revenues worth US$ 82,705,484.

Highlights include:

A 43.36 ct cushion-shaped Fancy Vivid Yellow diamond sold for US$2,642,467

 

A 3.17 ct modified rectangular-cut Fancy Intense Blue, IF diamond took the eighth top lot spot selling for US$2,383,814. 

 

A pair of 4.03 and 4.01 ct pear-shaped Fancy Pink diamond ear pendants sold as the tenth top lot for US$2,024,574