Fancy color diamonds – auction results and upcoming auctions
The month of the October marked the beginning of the auction season, and judging from the month’s activity, it is sure to be a busy one. Here are some past auction results, along with news on auctions taking place in the near future.
On October 5th at Sotheby’s, not one, but TWO record sales prices were broken:
A 6.01-carat, Fancy Vivid blue diamond that is estimated to be worth $9-$10.9 million, sold for a grand total of $10.14 million – a world record in terms of price per carat for any fancy, vivid, blue diamond; the total can be broken down to $1,686,505 per carat!
Another record-setter…a Cushion-cut Fancy Vivid orange diamond weighing 4.19 carats sold for $2.96 million – which computes to record setting $705,669 per carat, and the highest price for any Fancy Vivid orange diamond at auction.
And while this one didn’t break any records, its mentioning is surely nothing to ignore. A 43.51-carat, internally flawless, Fancy Intense yellow diamond (seized in a drug sting by the U.S. Marshals in a Northern District of Ohio) recently went up on the auction block…and the rectangular, yellow precious stone didn’t disappoint – focusing the world’s attention on Cleveland from all around the world, and selling for $2,843,623.
Just as impressive, a 32.77 carat Natural Vivid yellow diamond was sold at auction by Christie’s New York, earning an incredible $6.6m. The golden yellow hue of this large pear-shape stone – approximately the size of a guitar pick – is so deep and intense that the Gemological Institute of America ranks it amongst the rarest gemstones in its class.
All things considered, these results may reflect caution on the behalf of private diamond buyers, thanks to the souring of stock markets and real estate investments. Not to mention the fact that when auctions are dominated by diamond traders, or middlemen, the achieved prices tend to be lower, and overall auction results a bit underwhelming.
So how about looking forward to auction’s future?
Sotheby’s has recently announced the sale of one of the most impressive diamonds seen for sale in quite a while: a whopping 110.03 carats yellow diamond. And rightly so, as the 110 carat “monster” is the highlight of Sotheby’s “Magnificent Jewels” auction scheduled to take place on 15 November 2011 in Geneva; the diamond is estimated to go for between $11-15 million. Aside from its breathtaking size, the “sun-drop” diamond has been graded as Fancy Vivid yellow, which is the highest color grade possible for a yellow diamond (as stated by the Gemological Institute of America (GIA)). Such a score makes this exceptional stone the largest known pear-shaped, Fancy Vivid yellow diamond in the entire world.