Auction Prices On The Rise
Sotheby’s most recent successful Asian auction took place in Hong Kong last Monday, and featured an impressive display of high valued items. There were many big ticket pieces, but of the sold pieces, the top lot consisted of a jadeite necklace, selling for $27.6 million, as well as a ruby and diamond necklace which took second place at just under $10 million.
Fancy color diamonds sales results continue to display consistent high demand. No new world record price have been broken so far this year, but after all, its only April! Anyway, as the old adage says, value is built over time and not overnight. Some interesting diamond price results from Hong Kong resulted from sales of Fancy Yellow, Pink and Champagne diamonds.
The first was a Fancy Brown Yellow diamond, an impressive 49.31 carats, and was the largest fancy color diamond offered. The hammer came down at $1.738 million, or $35,260 per carat.
The surprise of the evening came from the 8.05 carat Fancy Light Pink Brown Pear shaped diamond that sold for $593,308, a full 110% above the high estimate of Sotheby’s. This certainly surprised bidders, but we can safely assume that the buyer saw value in his investment that nobody saw just yet.
Another notable item sold that evening was a 6.27 carat Light Pink oval shaped diamond. It outstripped expectations at a 41% premium above the high price. The high end of the estimate at $619, 104, while it sold for the impressive $871,905.
Some other prices that shattered estimates were two fancy yellow diamonds. One was a 21.04 carat Fancy yellow rectangular shaped diamond that fetched $376,622, some 27% above high estimate. The other fancy yellow diamond is a 12.81 carat Brilliant cut that sold for $268,278, a 90% premium above its maximum estimated sale price.
What about Investments?
The consistency of higher returns continues with a 5.02 carat Fancy Intense Yellow diamond that sold for $252,801 or 63% above high estimates. A pair of beautiful Fancy Yellow earrings sold for $268,278, or 89% above high estimates. This pair consisted of two heart shaped diamonds, weighing 8.09 carats and 7.86 carats respectively. Finally, a 8.75 carat Fancy Yellow round brilliant loose diamond sold for $152,196, or 39% above estimates.
What about Love and Passion Investments?
Lot #1755, a light pink diamond, sold for $221,846 or a whopping 102% above asking price. It is a 4.03 carat heart shape, with brilliant diamonds all around. Well, somebody is investing in passion!
How much value is placed in a Brand Name?
The answer to that is - a lot! The Leibish brand continues to gain modest recognition globally with its recent victory in jewelry design from the JCK Awards for its own Tutti Fruiti designed by our own Chavi Itzhakov, a 54.84 ct multicolor Couture Rosecut Diamond Bracelet with 112 fancy colored diamonds set in 18K Gold. A trio of Graff bracelets sold at the auction for $104,796, or 81% above asking price.
They feature 6 yellow diamonds ranging from 1.10 carats to 1.61 carats in weight. So, next time you shop around for some Fancy Color Diamonds, make sure to take all of the above into consideration, or simply contact us, and will gladly guide you to real luxury living.