April 16th was an exciting day for the Big Apple. Excellent Fancy Color diamonds were auctioned off by Christie’s; some rare, some old, some big and some not, but all were special.
Rare stones are hard to come by and are not often auctioned off. Two such stones were offered at this auction. A type IIa 6.10 carat Fancy Intense Pink VVS1 which was sold for $5.765 million or $945k per carat and a 3.60 carat, Fancy Intense Green Diamond SI1 fetched was also sold for $1.205 million or $335k per carat.
Old stones, especially those owned by prominent figures also tend to fetch higher than normal prices due to their history, and ownership. It goes back to the concept of passion investment, where a portion of the premium paid is due in part to the story. Two such stones sold in New York; a 15.75 carat Fancy Intense Yellow VVS2 formerly owned by Lily Safra sold for $809k or $51.4k per carat, and surprisingly a 2.49 carat Fancy Yellowish Green, I1 stone, set in a JAR setting, which was estimated to sell between $300k and $500k actually sold for a whopping $1.805 million, or $725kper carat, significantly beyond any expectations. This special diamond was formerly owned by Countess Eliza Krasinsky (1820-1876).
The word big means different things for different people. The same goes for diamonds. In fancy color diamonds, big is anything over 5 carats. Two such beautiful items were sold. A 20.34 carat Fancy Vivid Yellow diamond, VVS2, set in a Tiffany necklace with colorless diamonds sold for $1.445 million, or $71k per carat. Another fantastic Fancy Intense Yellow piece was sold; a 30.73 carat, VVS2 sold for $1.181 million or $38.4k per carat. This stone was set as a brooch.
A 5.17 carat, Fancy Gray Blue, VVS potentially internally flawless, type IIb, was sold for $1.145 million or $222k per carat. This stones reminds me of the original color of the Wittelsbach-Graff Diamond back in 2008 (the stone was later re-cut to become a fancy deep blue).
The next exciting auctions are set to take place in Geneva both on May 13th by Sotheby’s and the following day by Christie’s, where both will show off more rare, big and old Fancy Color diamonds.