Auction Action

Diamond collectors love a good auction---whether they are packed with previously unseen stones, or those rare ones that help reveal current market behavior for their kind.

The always anticipated Christies Geneva Magnificent Jewels auction held on November 8, 2022, had several color diamond offerings which are known to drum up heightened interest.

Something About Pinks

Pink diamonds - Appearing twice in this auction holds sway over most collectors of rare stones due to their exquisite beauty and their rarity. While Australia’s Argyle mine that brought us pink diamonds decade after decade is now shuttered, the stone’s desirability remains on an upward trajectory. Often the latest sale price of pinks, blues and red diamonds will eclipse previous hammer prices for the scarce collectibles.

LEIBISH ARGYLE DIAMOND: 1.73 Carat, Fancy Intense Pink 

What Collectors Came For

The hero of this sale was arguably the Fortune Pink, (Lot 71) a glamorous 18.18 ct VVS2 vivid pink pear diamond with white trillion side stones. It was said to be the largest of its kind and shape to go on the auction block according to Christie’s Geneva head of jewelry department, Max Fawcett. “A true miracle of nature,” Fawcett declared.  The fortunate winning bidder paid $28.8M US for the stunner.

Lot 71: The Fortune Pink Diamond

Round, Emerald, & Marquise

But the other color diamonds lined up at this auction were so inviting that eager bidders propped up their re-sale estimates, with every stone exceeding its pre-auction analysis. That certainly validates the continued fervor for fancy color diamonds amongst serious collectors

Lot 2 was a 9.53 ct round Fancy Yellow VS1 diamond with a halo of white diamonds and a diamond accented Cuban chain-style shank. At $15,434 per carat, this works out to $147,086.02 for the ring.

Lot 2: Bulgari Colored Diamond and Diamond Necklace 

Lot 3 gave collectors an opportunity to view an impressive ultra-high clarity yellow diamond. The 6.04 ct east-west oriented emerald cut Fancy Intense Yellow VVS2 exceeded its per carat estimate of $21,602. Fancy Color Research ( notation for the exceptional yellow stone claimed only 1-3 such similar diamonds will turn up annually. The realized price was $179,048.76 or nearly $30,000 per carat.

Lot 3: Bulgari Colored Diamond and Diamond 'Trombino' Ring

Lot 12 delivered a sizable marquise shaped pink diamond that night—and it found a new home as well. The 10.28 ct, marquise, Fancy Pink-Purple diamond mounted in a simple 6-prong solitaire setting was graded I2, something not out of the ordinary for pink diamonds. Its numerous inclusions did not hamper that stone’s sale which went above the pre-auction estimate. Such is the ardor for pink diamonds. Hammer price on this one was $307,084.16

Lot 12: Colored Diamond Ring

As high-end buyers vote with their dollars, (or Swiss francs in this case) these latest auction results demonstrate the robust interest in fancy color goods that buyers continue to exhibit. Each one is an eye watering original, that only nature can produce. ▼

''Auction houses take a very active role by selling important stones to the end customers and eating the sandwich of the highs street jewellers. The high days of the Geneva auctions when Lawrence Graff and Lisa Moussaieff bid against each another with millions then replaced with anonymous collectors on the telephone. It appears that the the auction houses have started to get back in higher end stones and are stopping to try to show that they are cheaper then the market, by offering borderline stones with a lucky certificate. They are still trying to take stones at a low price so they can drive up the price over the estimated. As the general market condition are improving and a shortage of fine goods is critical as the market of fine goods is getting hot.''

- Leibish Polnauer 

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