Pink and Blue Diamonds to End 2014 on High Note
November brings with it some very exciting auctions including Pink and Blue diamonds to end the year with major noise, and maybe even some new records?
The month of November is always an exciting one for diamond auctions. Both Sotheby’s and Christie’s hold their seasonal Magnificent Jewels auctions in Geneva. This year, Christie’s will be hosting an additional Magnificent Jewels in Hong Kong, where a pink diamond recently broke records, while its counterpart Sotheby’s will host their additional Magnificent Jewels in NY. Between these four auctions, some big headlines will surely result.
On November 11, a date that coincides with the infamous Chinese 11/11 Singles Day, the country’s most important selling day of the year, Christie’s will present its 392 lots up for auction. Four lots especially stand out, in my opinion. All have a common denominator - rarity!
Let me introduce to you these 4 items by their estimation valuation given so that we can build our excitement together.
Lot 61 is a modest 2.51 carat Fancy Purple diamond and the estimation is between $44,000 to $84,000 per carat, meaning $110,000 and $210,000 total. The interesting part of this stone is its color. Similar to green and orange diamonds, purple in diamonds is a rare color, and mostly bought for purposes of collections. Its estimated price of $44,000 to $84,000 per carat can be considered quite modest, and it remains to be seen whether its buyers will exceed the estimations.
Lot 311 is also particularly interesting. It is a 15.62 carats Fancy Pink VS1 kite shaped Type IIa diamond. Being that it has a unique shape and that it is a type IIa, this makes it an extremely rare find for a diamond. The estimated selling price is set between $2.5 million and $3.6 million, or between $160,000 and $230,000 per carat.
Lot 343 is a special size of 40.48 carats, a Very Light Pink VVS1 pear shaped Type IIa diamond. It has a fantastic clarity, with a potentially IF assessment. This diamond too is a type IIA stone, which puts it in the top 2% of pink diamonds. The estimations for its sales price are between $3.5 million and $5.6 million or $86,000 to $138,000 per carat.
Lot 392 tops it all for this Auction in Geneva; no wonder Christie’s kept it for this special date. This is a gorgeous pair of Bulgari earrings consisting of a 6.95 carat Fancy Vivid Blue Type IIa diamond and a 6.79 carat Fancy Vivid Pink Type IIa diamond, which is positively amazing! The sales price estimation is between $12 million and $15 million.
The very next day, Sotheby’s will get its turn to display its collection and flex some muscle. It plans to auction a massive 470 lots. This will be another long day for bidders, who might have an interest in various lots throughout the day.
In our case we go straight to Lot 397, a 5.08 carat Fancy Light Orangy Pink diamond. Presented on a beautiful ring, and valued between $230,000 and $450,000, or between $45,000 and $89,000 per carat. This valuation is a massive spread but it demonstrates the uncertainty that exists in evaluating this item.
Lot 399 is also another captivating piece, a 9.89 carat Light Pink VVS2 diamond. Its value hovers between $700,000 and $1,400,000, or between $71,000 and $142,000 per carat. This valuation shows again that evaluating rare diamonds can be a challenge, which at the end will be solved that very night when the hammer is brought down.
Lot 459 is a modest 1.86 carat Fancy Intense Pink diamond, by Graff. It is valued between $300,000 and $500,000, or between $161,000 and $269,000 per carat. Let me bring to your attention that the weight of the stone has a 3 number combination that is quite important and cherished in the Chinese culture. I wonder if the buyer will be Chinese!
Similar to Christie’s, our final spotlight is on a blue diamond. Lot 460 is a fantastic 3.16 carat Fancy Intense Blue diamond, and its value is estimated to be between $2 million and $3 million, or between $633,000 and $950,000 per carat. According to current information that is available to me, the high estimate is where the value should be. However, managing expectations is quite important here and it remains to be seen where the ultimate price of this ring will land.
We wait patiently for the results and look forward to reporting them to you!