Though some might not understand at first, the finest diamond and jewelry auctions are actually some of the most exhilarating experiences. Throughout the year, there are a number of exhibitions we attend who auction off some of the rarest and most fantastic red, blue, yellow, and pink diamonds. Among all the auction houses Chrsitie's and Sotheby's in Geneva, definitely take the cake for excitement!
Astronomical prices are paid time and time again for some of the most fabulous stones available in the market. Needless to say, where the rarest stones of all are auctioned off, market prices for polished goods are directly affected as a result of the prices reached in that room! But this is no surprise, since the word is out! Diamond investments are an asset worth appreciating!
It is truly amazing to be able to participate at the Sotheby's Magnificent Jewels and Noble Jewels auction in Geneva. As the night goes on, reports came into our office via email:
- Lot#1 going starts at 20k and within a minute it is at $190k!
- Lot#436 was being bid on like crazy, and it is going up quickly! $620k by now $680 ....700 over the phone, up in 1 bid to $750 up from $225k! The crowed is going wild!
- Lot#438 fancy yellow went from $400 to 500 in 10 seconds finished 625 by the time I finished typing!!!!!
- Lot#443 sold for $220k
- Lot#458 went from 120 to 200 in 1 bid and within a minute went to $520k
- Lot#461starts at $2m! By the time he says 2.2 it already increased to 2.3, 2.4.....2.8m.. Sold!
- Lot#470 starts at $1m… $1.3m Sold!
- Lot#478 sold almost immediately at $1.25m
- Lot#500 started at $9.5m! Silence at 10.7, a laugh in the room… Quiet... $11m on phone.. $11.1m to a happy lady in the middle if the room...
- Lot#505 started at $1m… 1.9… 2m… sold at 2.2m - Wow!!!
- Lot#Start starts at $2.5.... 2.7… 2.8… 3m… 3.2… 3.7m sold!
- Lot#507 Graff's 100.09 carat Fancy Vivid Yellow Diamond sets new world record at $16.2 million, $162K per carat! WOW! Last record was $114k per carat, and this is a whopping 33% increase since the Sun Drop!
- Lot#522 Sold 5.6m francs fancy pink IF 12.07ct
- Lot#525 Sold for five times the estimated price… $3m
The night goes on, and the auction continues. It truly helps put some perspective on just how bright these stones can really shine!