Not All Big Fancy Gems Sell at Sotheby’s Auction

Sotheby’s Hong Kong Magnificent Jewels and Jadeite Spring Sale achieved a near-record result for an 8 ct. blue diamond, but not all the notable fancy colored gems on the block sold.

The auction’s highlight was an 8.01 ct. emerald-cut fancy vivid blue diamond and diamond ring, which sold to an anonymous buyer for $12.7 million, the second highest price-for-carat for a blue diamond at auction. Its price is topped only by a 6.01 ct. fancy blue diamond sold by Sotheby’s Hong Kong in October 2011.

However, some highly touted items, including the items with the sale’s second and third highest estimates, failed to sell. A 5.03 ct. fancy vivid pink, with an estimate of $5.4 million–$6.7 million, didn’t sell. A 5 ct. modified pear double rose-cut blue with a $4 million–$4.5 million estimate also failed to attract a buyer.

A 3.28 ct. pear-shaped internally flawless fancy vivid pink diamond and diamond ring fetched $3.1 million.

Overall, the sale reached $64 million, which is one of the highest total sales Sotheby’s has ever achieved in the Asian market.

“Throughout the day there was spirited competition among collectors from across Asia for top quality round white diamonds and pink diamonds, as well as for Burmese ruby, Colombian emerald, and jadeite jewelry,” said a Sotheby’s statement.

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