Two jewelry auctions by Sotheby's Auction House took place last week in Geneva, and proved once again the strength and appeal of the gems and fancy diamonds industry.
Noble Jewels, a special jewelry public auction of Sotheby's, offered an exceptional highlight - The Donnersmarck diamonds - two fancy yellow diamonds, named after their previous owner, Henckel von Donnersmarc, a member of a Princely European family from the nineteenth century. The Donnersmarck yellow diamonds were encrusted in pendants in traditional European style and drew a lot of the attention.
The Donnersmarck diamonds were obviously sold for top prices. While they were estimated at $1.5-2 million, these fancy yellow diamonds were sold to the same collector, paying much more to enjoy these remarkable pieces. The first one, a baguette polished fancy yellow diamond weighing 102.54 carats, was sold for $3.246 million. The second fancy yellow Donnersmarck diamond, a tear drop polished diamond weighing 82.48, was sold for $4.666 million. All together, the revenue of the Noble Jewels auction reached $13 million.
In Magnificent Jewels, a second auction by Sotheby's which took place the same day in Geneva, several fancy colored diamonds also fared very well. The most expensive item offered at this auction was a fancy yellow diamond pendant necklace weighing 74.95 carats. This magnificent necklace was sold above estimate for $2,056,000. The largest diamond in the necklace, a 24.5 carat fancy yellow, can be disengaged and worn as a ring. Another item sold above estimate was a fancy diamond cocktail ring, Verdura, which was sold for $432,000, nearly doubling its estimated price. All together, the revenue of Magnificent Jewels Sotheby's auction reached $27.1 million.
A brief summary of both auctions reveals several facts. No less than six items were sold for more than $1 million. The total revenue of both auctions makes them the best jewelry auction of Sotheby's Geneva since 2000, and the best jewelry sale of the entire Sotheby's Auction House this year. The last fact is almost needless to mention - that fancy colored diamonds keep drawing most of the attention at top jewelry auctions. It certainly appears to be the fancy yellow diamonds' year.