Magnificent Jewels in Hong Kong With Magnificent Valuation
Christie’s Hong Kong Magnificent Jewels will display some of the most beautiful and rare fancy color diamonds at Tuesday's auction. Fancy Color Diamonds have not been busy in the last few months, which has been building significant anticipation of the lovers of the gems who wait for them to come up at auction. It seems that the upcoming show in Hong Kong will give a boost once again to fancy color diamonds, which have taken a seat back and recently allowed some precious gemstones to share some of the spotlight.
The first item I wanted to bring to your attention is a Fancy Vivid Orangy Yellow diamond set in a beautiful ring. It is a 9.50 carat diamond and has Internal Flawless clarity and excellent polish. The only odd thing about this ring is that it estimated to be valued at between $1.5 million and $2.3 million, or a sizeable, overvalued range of $158K to $242K per carat.
This valuation is quite rich for a diamond of such size and color depth, even when we consider that the stone has IF clarity, which is very rare. I have my personal doubts about the sale of this diamond and its meeting this price, but you never know as we have seen amazing surprises at auctions in previous years.
Our next item is incredibly rare, and if you did not review the certificate properly you would not have even known so! It is a 1.03 carat Fancy Purplish Red hexagon shaped diamond with I2 clarity.
So, what is so special about it?
It is an Argyle stone from the Argyle mine in Kimberley, Western Australia. Any argyle stone that has been sold has been able to attract top dollars in the last 30 years, and their valuation continues to increase as the reported closing date of the mine approaches. Not very often do we see an argyle diamond sell again on the secondary market as almost everyone who buys Argyle diamonds buys them to hold and not to resell for many years.
The rare red diamond is set on a necklace alongside a 10.02 ct D color pear shape IF clarity diamond, with a 2.66 ct D color pear shaped IF clarity diamond above it. The necklace is estimated to sell under the hammer at a price between $2 million and $3.2 million.
The next four items are from the pink color family. The first is a 4.23 carat Fancy Pink Purple oval shaped diamond with SI1 clarity valued at $1 million to $1.2 million. Beside it is a 3.64 carat Fancy Pink round brilliant diamond with IF clarity. It is evaluated to sell also at $1 million to $1.25 million.
Next item on the block is a rare sized and impressive 10.32 carat Fancy Pink pear shaped diamond with SI1 clarity. It is valued to sell at a price between $4 million and $6.4 million.
The last pink diamond on our list is also rare, and it has been a while since we last saw a diamond of this size with these qualities. This 9.07 carat Fancy Intense Pink diamond has an IF clarity and is a type IIa diamond. The star of the auction, and it is estimated to sell at a price between $12 million and $15 million, or $1.323 million to $1.654 million per carat. We might actually experience a new sub-category world record emerge when the hammer comes down.
The current record holder for a Fancy Intense Pink, 5-10 carat in size is the 6.54 carat Fancy Intense Pink IF diamond that was sold on December 5th, 2012. It sold for $1.314 million per carat. Just for the record, the highest per carat for a Fancy Intense Pink diamond sold at auction is $1.862 million for the Graff Pink, a 24.78 carat sold back in 2010. Graff had re-polished the stone to a 23.88 carat Fancy Vivid Pink diamond with IF clarity.
Our next item for bid is a rare and very sought after 3.00 carat Fancy Intense Blue Pear shaped diamond with IF clarity. It is estimated to sell at a pricebetween $2.2 million and $3.5 million, or $733k to $1.17 million per carat.
The most expensive Fancy Intense Blue in the 3-5 carat sub category was sold at $1.01 million per carat in November 2014 at Sotheby’s, but that stone had a VS1 clarity and weighed in at 3.16 carats. This stone is much rarer, and I figure it will easily break the record of the current record holder. The front runner for any Fancy Intense Blue diamond is the 7.64 carat diamond sold back in May of 2010. It sold for $1.05 million per carat. We could be seeing a new record at this auction.
The last item on the auction block is a rare color and size, which we do not see very often at auction at all. It is a 5.02 carat Fancy Intense Green diamond with SI1 clarity. It is estimated to be sold at a price between $2.5 million and $3.5 million.
It is important to note that both the Blue and green diamonds are from the luxurious house of Moussaieff, which also sold the record breaking red heart diamond for $2.44 million per carat in Hong Kong just last year, among other items of rarity and beauty. We awat Tuesday’s auction results with anticipation, as these diamonds test the Hong Kong buyers and the lengths they will do to in order to acquire some of the rarest fancy color diamonds seen to date.
What do you think about these diamonds’ valuation? Does buying them show the lengths that people will go to in order to acquire a fancy color diamond?
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