One Pink Diamond Sets Auction Record, but Another Doesn’t Sell

Christie’s had mixed results with the pair of large pink diamonds it offered at the Nov. 10 jewelry auction in Geneva—the 16.08 ct. Sweet Josephine set a record, but another big pink failed to sell.

The 16.08 ct. cushion-shape fancy vivid pink VVS2 diamond sold for $28.5 million, or $1.7 million a carat, a record for a fancy vivid pink diamond. That slightly beat its original $23 million–$28 million estimate but fell below presale projections that its price might top $30 million.

The private Chinese buyer named it the Sweet Josephine following the sale. The diamond is only one of three fancy vivid pinks of more than 10 cts. to have ever appeared at auction. (Christie’s has posted video of the Sweet Josephine being sold.)

However, a 7.07 ct. ring set with a fancy intense pink rectangular diamond did not sell. Its estimate was $4.7 million–$5.3 million.

Other sale highlights:

– A 50.48 ct. D-color internally flawless pear-shape sold for $7.8 million, or $155,264 a carat, to a buyer from the international trade.

– A 91.81 ct. fancy intense yellow VS2 cushion-cut sold for $4.3 million, or $46,605 a carat, to a buyer from the Middle Eastern trade.

Overall, the sale garnered $109.4 million, with 80 percent sold by lot, and 86 percent sold by value.

But the jewelry auction world will be closely watching the Sotheby’s auction today in Geneva, where the Blue Moon, a 12.03 ct. internally flawless fancy vivid blue, might set a record for the most valuable diamond ever sold at auction.

(Courtesy Christie’s)

JCK News Director