Wednesday Christie’s Auction House sold an extremely rare, 17th-century fancy deep grayish-blue diamond for 16.39 million pounds ($24.3 million), a world record price for any diamond or piece of jewelry sold at auction.
The pre-sale estimate was about half the sale price, 9 million pounds.
Famed jeweler Laurence Graff bought the 35.56-carat, historic Wittelsbach diamond, which came to the international market for the first time in almost 80 years, in a highly competitive auction, a Christie’s spokesperson told Reuters.
Large blue diamonds of high clarity, such as this, are very rare. The history of the stone also enhanced its value.
“The importance of the piece, the rarity of it, was recognized,” said Keith Penton, head of Christie’s jewelry department in London.
He said there was strong interest in the diamond from jewelers and private collectors.
The diamond, which was found in an Indian diamond mine, was part of the dowry of the Infanta Margarita Teresa (1651-1673) upon her engagement to Leopold I of Austria.
AUCTION OF DIAMOND IN 1990 WHICH IS SOLD FOR 12.7 MILLION DOLLARS
Comparable diamonds have fetched astronomical prices at auction. The Mouawad Splendor, a 101.84-carat pear-shaped diamond, brought in 12.7 million dollars when it was sold in 1990.
In what is said to be a historic sale, a 101-carat, near-flawless diamond will go under the hammer later this year in Hong Kong, media reported Wednesday.
The squash-ball sized stone, which will be sold at the Hong Kong branch of Christie's auction house on May 28, is now on exhibition in London and is also the biggest white diamond at auction in nearly two decades, Christie's said.
A 101.27 carat colourless diamond is displayed at Christie's auction house in London. It is the biggest colourless diamond to appear at auction for 20 years and it will go under the hammer later this year, officials said as it was unveiled in London. (Xinhua/AFP Photo)
A 101.27 carat colourless diamond is displayed at Christie's auction house in London. It is the biggest colourless diamond to appear at auction for 20 years and it will go under the hammer later this year, officials said as it was unveiled in London. (Xinhua/AFP Photo)
The diamond was found at the Premier diamond mine in South Africa, and is being sold by a Europe-based diamond trading company.
REPORT FOR THE AUCTION ON MAY 12TH 2009 FOR BLUE DIAMOND
Sotheby's to Auction Rare 7-Carat Blue Diamond
Circular Keystone (JCK) reports that Sotheby's will be offering a a 7.03-ct. fancy vivid blue diamond from the Cullinan diamond mine in South Africa as part of its Magnificent Jewels and Noble Jewels auction on May 12th, 2009. JCK also says that the Gemological Institute of America gave the stone the highest grading possible for a blue diamond: "fancy vivid blue in color and internally flawless in clarity." Sotheby's says it is one of the most important blue diamonds they have ever put for auction."This stone certainly ranks among the most important blue diamonds that I have had the privilege of offering for sale in my career at Sotheby's and what makes it particularly special for us, is that we've been able to follow its production from the initial rough state through the various stages of its cutting and polishing," said David Bennett, chairman of Europe & the Middle East, Sotheby's International Jewellery department. JCK says the pre-sale estimate for the beautiful rare blue diamond is from $5.8 to $8.5 million.
MOST EXPENSIVE DIAMOND IN THE WORLD
Sotheby’s auction in Hong Kong just made the record for the world’s most expensive diamond. The diamond in question is of a blue hue and quality cut. It was purchased by Moussaieff Jewellers of London for $7.98 million USD. Weighing in at 6.04 carats, this diamond is worth about $1.32 million USD per carat, thus beating the “Hancock Red” which sold in 1987 for a mere $926,000 per carat. The auction was held on Monday, October 8th, 2007; bidding on the most expensive diamond lasted only 8 minutes and was, reportedly, fierce. Most expensive diamond in the world. Diamonds were first mined in India and have since become the most coveted gems. Currently, the diamond market is enriched by deposits in Russia, Botswana, Australia and the Democratic Republic of Congo. The carat measurement refers to the mass of the diamond. When referring to precious gems, a carat is a fifth of a gram. The largest diamond, at 45.52 carats, is the famous Hope Diamond.Christies Magnificent April 6 Diamond Auction!
Christie's New York will hold its Magnificent Jewels sale on April 11, 2006, which will include the Joan Kroc collection. (Kroc was the wife of fast-food chain McDonald's founder, Ray Kroc, and a well-known philanthropist.)
One item up for auction is a pear-shaped (D,IF) 50.53-carat diamond, set in a ring and flanked on either side by pear-shaped diamonds (priced upon qualified buyer request.)
Christie's says the blue-gray color is due to the presence of minute quantities of the element boron incorporated into the stone’s crystal structure at the moment of its formation.
Other colored diamonds include: Fancy intense blue, internally flawless diamond of 3.17 carats (estimate $500,000-$700,000) and a modified square-cut fancy pink diamond of approximately 5.25 carats set in a ring and flanked on either side by a trapeze-cut diamond (estimate $400,000-$600,000.)
Kroc's collection includes emeralds, sapphires, and diamond rings from Bulgari, Cartier, Van Cleef & Arpels, and Harry Winston. Leading Kroc's collection are two diamond necklaces by Harry Winston, the first of which is a colored diamond necklace set with a detachable pear-shaped fancy intense yellow diamond of approximately 42.13 carats (estimate, $1.0-$1.5 million.)
The second is a “Holly Wreath” necklace composed of two graduated rows of circular, pear and marquise-cut diamond clusters (estimate, $500,000-$700,000.) Holly Wreath is designed by Ambaji Shinde.
The sale also features a number of signed pieces, including a colored diamond and emerald “Camaieu Tiger” brooch by René Boivin, with a pavé-set colored diamond articulated body and marquise-cut emerald eyes, this unique piece offers a surprisingly realistic interpretation of this exotic animal's crouching pose through detail and execution.
DIAMONDS ARE FOREVER
A flawless vivid blue diamond weighing 7.03 carats sold Tuesday for a record $9.49 million. Just to put it in perspective, that’s $1.3 million per carat. A flawless regular diamond is around $120,000 per carat.
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