Geneva, Switzerland (GenevaLunch) – Fears that the jewelry market might be floundering in this economic crisis appear to be unfounded, with Sotheby’s selling CHF40 million worth of diamonds, rubies and other fine jewels as rings, necklaces, bracelets and tiaras Tuesday 12 May.
The rare fancy vivid blue diamond ring that was the centrepiece of the auction went for CHF10,498,50, ($9,488,754), comfortably above the estimated CHF6.8-10 million pricetag. The diamond was found in 2008 in South Africa’s famed Petra Diamonds’ Cullinan mine.
The Tuesday sale set two records, a new record price per carat for any gemstone sold at auction and the highest price for a fancy vivid blue diamond sold at auction.
The winning bidder wishes to remain anonymous, says the auction house “and is yet to exercise their privilege to name the stone.” Sotheby’s notes that “The Gemological Institute of America (GIA) has graded the stone as fancy vivid blue in colour and internally flawless in clarity, the highest possible grading for a blue diamond.”
Harry Winston sapphire and diamond bracelet, 1968 (Sotheby's)
Harry Winston diamond pendant earrings, 1975 (Sotheby's)
Other top sellers included two lots of Harry Winston jewelry: a 1968 sapphire and diamond bracelet for CHF1,538,500 – double its estimate, and a pair of Harry Winston diamond pendant earrings, 1975 which sold for CHF1,426,500.
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News story, GenevaLunch, 13 May 2009.
Filed under: Politics
Tags: auction, diamonds, fancy vivid blue diamond, Geneva, Jewels, Politics, Sotheby's, Switzerland
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May 20th, 2009 at 3:01 pm
[...] sales record blue diamond owner named Geneva, Switzerland (GenevaLunch) – The owner of a fancy blue diamond sold by Sotheby’s 12 May, which set two records, has been named: Joseph Lau Luen-Hung, a Hong Kong collector, paid [...]