Ultra rare pink Australian diamonds are expected to sell for millions of dollars at an upcoming auction.
The diamonds have generated interest among buyers as they were sourced from the Argyle site in Western Australia, which is the largest diamond mine in the country which plans to close it by 2021.
This Argyle pink diamond necklace will also be put up for bidding on Sunday
‘We expect there to be some fierce bidding come auction day in a couple of days time in the bid to win these unique, highly desirable and collectable pieces,’ Head of Fine Art and Antiquities for Lloyds Auctions Amanda Benson said.
The Argyle mine turns out less than 0.1 per cent of the world’s diamonds, though its gems are world renowned.
Earlier this year, an incredible 28 carat ultra-rare white diamond was discovered at the site. General manager of Argyle Diamonds, Andrew Wilson, said: ‘Argyle Octavia is unique in its size, shape and beautiful provenance.’
The diamonds have generated buzz among bidders as they were sourced from Argyle Australia’s largest diamond mine in Western Australia
The first a heart shaped gem was a 5.04 carat fancy vivid blue heart modified brilliant cut diamond with VS2 clarity. The stone is mounted on a platinum ring flanked by two pear-shaped diamonds. It achieved more than $10.5 million USD, making it the top lot at the Sotheby’s auction.
The second was a 4.49 carat heart modified brilliant cut, internally flawless, fancy vivid pink diamond. It’s mounted on an 18k white gold ring flanked by pear shaped diamonds. It achieved more than $8.1 million USD. at the high end of its estimate, making it the number three lot of the sale.
The buyer or buyers for both lots is unknown at this time and there is no indication whether a single person purchased both fancy colored diamonds.
A 12.11 carat fancy intense blue diamond sold for $15.9 million USD at Christie’s Hong Kong Magnificent Jewels auction. The internally flawless marquise shaped, brilliant cut gem was sold during a long, drawn out bidding process that was gradually narrowed down to two phone bidders, as seen through the auction house’s live stream.
It blew past its $12.3 million high estimate with a hammer price of $13.6 million which doesn’t include the buyer’s premium. The price per carat was $1.31 million.
A 21.52 carat untreated Colombian emerald fetched nearly $1.2 million at Phillips Hong Kong Jewels and Jadeite July auction. The gem sold within estimates all sales include buyer’s premium. Described by the auction house as “exceptional and very rare,” it was the top lot in an otherwise mixed sale where several important lots were left on the block.
Among the items that didn’t sell was the top lot heading into the auction: a 20.25 carat internally flawless fancy vivid yellow diamond set on a diamond ring. Its estimate was $1.1 million to $1.5 million. It was withdrawn prior to the sale. Another item that was withdrawn was a necklace featuring 11 fine oval jadeite cabochons surrounded by brilliant cut diamonds and linked by marquise and pear shaped diamonds set on 18k white gold. Its estimate was $808,000- $1 million.
In addition, a very fine pair of fine jadeite cabochon earrings set on white gold did make it to the block but failed to find a bidder. Its estimate was $750,000 to $1.1 million.
An important signed jewel that failed to attract a buyer was a one of a kind Peacock bangle by Chopard. The elaborate high jewelry creation is notable for its resplendent tail feathers that wrap around the wearer’s wrist. This design, marked by numerous details, is adorned with 7,500 gems that required hundreds of hours of study and work. Its estimate was $230,000 to $280,000.
Items that did do well in the sale held on July 8 at the JW Marriott Hong Kong were signed Harry Winston jewels and emeralds, such as the top lot.
The number two lot in the sale was a a 12.55 carat rectangular step-cut diamond set on a vintage platinum ring, 1953. The D/IF type IIa diamond sold for $1.1 million, within estimates. In addition, a “very fine” pair of 4.52 and 4.44 carat step-cut Colombian “no oil” emerald and diamond ear clips from the famed New York jeweler sold for $370,960, within estimates. A pair of classic diamond cluster ear clips totaling 21.63 carats sold for $209,673, within estimates.
A 6.38 carat cushion-shaped emerald mounted on a platinum and 18k gold ring surrounded by diamonds by Bulgari fetched $403,218, within estimates.
Three jewels featuring gem quality conch pearls by contemporary Hong Kong jewelry designer, Karen Suen, were part of the sale. One of the three jewels, a conch pearl, pink diamond and diamond necklace fetched $217,737, within estimates. The other pieces, a pair of earrings and a ring made of conch pearls and diamonds failed to sell.
ALROSA held its first auction this year for special size (over 10.8 carats) rough diamonds in Israel.
The company sold 92 large rough diamonds with a total weight of 1,570 carats. The overall revenue from sales amounted to $9.6 million. Firms from Israel, Russia, Hong Kong, Belgium, India, the United Arab Emirates and the United States participated in the auction, the miner said.
“The auction in Israel is the first in our schedule, and we are satisfied with its results,” said Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at ALROSA.
“Until the end of the year, we will hold five more auctions here. We also continue to analyze the situation in the global diamond market and see some difficulties with demand, however, in the next two months we expect it to recover.”
In 2018, ALROSA held six auctions for special size rough diamonds in Israel, with revenue for the year reaching almost $90 million.