Geneva had quite an exciting 2 days, both on Tuesday and Wednesday. New records were set on auction prices, demonstrating there is deep desire to buy color.
On Tuesday, Sotheby’s auctioned off the most valuable Ruby ever, and broke the record for both full price paid for a ruby as well as a new per carat record that was previously broken just a few months earlier.
The Sunrise Ruby, a 25.59 carat Pigeon Blood Ruby was sold for a total of $30,335,698 or a record $1,185,451 per carat, breaking the world record set on early December by the Graff ruby, which has sold for just under $1 million per carat.
The Historic Pink was auctioned off quite fast. The opening bid was $10,738,300, and ended up closing at $15,903,422 or $1,823,787 per carat for the 8.72 carat Fancy Vivid Pink diamond.
Another great value ring that was sold was the 19.30 carat Fancy Intense Yellow VVS1 diamond ring for $835,440 or $43,287 per carat.
The next day, across the street at Christie’s, very unique fancy color diamonds and gems were also sold for high prices due to rarity.
A 5.18 carat Fancy Vivid Pink VS2 diamond ring was sold for a total of $10,843,413 or $2,093,323 per carat. This is no way broke a record, but it continues to demonstrate the strength in value for rare fancy color diamonds.
A 35.09 carat Kashmir Sapphire (the leading mine for blue sapphires, and the most valuable source) was sold for $7,450,045 or $212,312 per carat.
A gorgeous 7.47 carat Fancy Purplish Pink type IIa IF diamond ring (a very rare clarity grade and type) sold for $2,602,376 or $348,377 per carat, supports the value given to such rare fancy color diamonds.
A 17.05 carat Fancy Vivid Yellow VS1 diamond ring sold for a total of $1,531,128 or $89,802 per carat, a pretty high price for such a stone but an extremely good value investment over a longer period of time.
Are the auction prices what you expected, or did these pieces sell lower than you thought they would? Tell us in the comments!