A fancy-pink diamond pendant is set to headline an upcoming jewelry auction at Sotheby’s in Paris, where it is expected to fetch up to EUR 550,000 ($612,797).
The cushion-cut, 4.03-carat diamond piece will feature at the October 10 Fine Jewels sale, according to the Sotheby’s website. The auction will also offer jewels from Cartier, Van Cleef & Arpels, and Giovanni Ferraris.
Additionally, the event will showcase more than 80 pieces from the collection of British singer Dame Shirley Bassey, including diamond jewelry Elton John gifted her.
Here are the rest of top 10 jewels that will be auctioned:
This Cartier Tutti Frutti bracelet designed as a band of articulated branches —embellished with carved emeralds, rubies and emerald beads drill-set with single-cut diamonds — carries a top estimate of EUR 450,000 ($501,395). A necklace from the Shirley Bassey collection composed of a row of graduated brilliant-cut diamonds, with the main ones weighing 5.50, 5.36, and 4.61 carats, could sell for up to EUR 280,000 ($311,798). Sotheby’s will offer this gold and diamond Cartier set comprising a necklace, two bracelets, a pair of ear clips, and a ring, each paved with brilliant-cut diamonds, for a high price of EUR 260,000 ($289,687). A David Morris ring bearing a rectangular step-cut, 7.15-carat diamond of F color and internally flawless clarity, flanked by tapered baguette diamonds, is expected to bring in EUR 140,000 to EUR 250,000 ($155,990 to $278,554). This sapphire and diamond bracelet by Van Cleef & Arpels forms a stylized buckle set with a row of oval sapphires framed by brilliant-cut diamonds. It has a presale range of EUR 140,000 to EUR 240,000 ($155,990 to $267,410). This ring with a pear-shaped, fancy-brownish-yellow diamond weighing 20.03 carats could achieve as much as EUR 220,000 ($245,116). A necklace composed of openwork and oval motifs, each set with an oval sapphire within a double surrounding of brilliant-cut diamonds, has an upper price of EUR 180,000 ($200,540).A 21.17-carat, fancy-light-brown-yellow, SI2-clarity diamond ring with marquise-shaped diamond shoulders is anticipated to realize up to EUR 170,000 ($189,415). This claw-set ring with a rectangular step-cut, 5.06-carat diamond flanked by triangular diamonds carries a high estimate of EUR 150,000 ($155,990).
Dubai-based manufacturer Choron has signed an agreement with Storm Mountain Diamonds to cut and polish a 108.39-carat stone from the Kao mine in Lesotho.
Storm Mountain, a joint venture between Namakwa Diamonds and the Lesotho government, recovered the type IIa diamond in March. The stone is one of the largest pink diamonds ever discovered, Storm Mountain said last week.
“Storm Mountain continues to consistently deliver extraordinary diamonds, and this diamond further cements the Kao mine as the primary producer of pink diamonds globally,” said Storm Mountain board chairman Robert Cowley. “We are thrilled to enter into this agreement with Choron, and we look forward to the next chapter of this diamond’s story.”
Storm Diamonds will retain a minority share in the stone, while Choron will manufacture and market it, Choron CEO Anshul Gandhi told Rapaport News. The company has not disclosed the other terms of the partnership.
“It is a privilege for Choron to unlock the secrets within this remarkable pink diamond, and we look forward to revealing the story of this historic diamond,” said Ghandi. “Our artisans will meticulously transform this rough diamond into an array of polished diamonds that will be remembered for generations to come.”
Fancy colour diamonds saw slower growth in the last three months, with an increase of just 0.5 per cent in the FCRF Index, which tracks prices across all colours, sizes and intensities.
That compares with a 1.3 per cent rise during the first quarter of 2023, as reported by the New York-based Fancy Colour Research Foundation, with the biggest increases among yellows.
During Q2, yellows diamonds again drove the increase, with a rise of 6.5 per cent across all categories. Pinks were up 0.2 per cent and blues rose by 0.6 per cent.
The FCRF noted that fancy colour diamonds had again out-performed white diamonds, which saw prices fall 3.5 per cent during the quarter.
Board member Eden Rachminov said: “The first six months of 2023 were intriguing. We experienced notable spikes in certain sub-categories within the yellow category, particularly in the intense and vivid grades with a high inner-grade.
“Meanwhile, the blue and pink categories remained stable. If the world economy continues to maintain its positive momentum, we can anticipate a robust price behavior after the summer.”
The FCRF tracks pricing data for fancy colour diamonds in Hong Kong, New York, Geneva and Tel Aviv.
Only one in 10,000 diamonds found are coloured, according to the Gemological Institute of America.
Average prices for fancy coloured diamonds of any size climbed by 3.9% in 2022, led by yellows and pinks, the Fancy Color Research Foundation (FCRF), a non-profit that promotes transparency and fair trade in the market, said on Wednesday.
The industry body said prices for all yellow diamonds climbed by 4.6% from the previous year, followed by a 3.9% rise in pinks and 1.8% in blues.
The improved prices reached by these diamonds, the FCRF said, contrast with the annual decline in white diamonds prices.
“2022 was a very good year for yellow fancy colour diamonds in all sizes and saturations. It seems like yellow diamonds with high visual grades and in certain shapes increased by more than what is reflected in the Index,” FCRF data supplier, Israel Papushado, said in a statement.
Source: FCRF.
“Pink fancy colour diamonds performed with no significant change in comparison to previous years; however, blue diamonds did not perform as expected, probably due to limitations in the Chinese market,” he noted.
The prices reported by the FCRF are based on its own Fancy Colour Diamond Index, which is built on tracked data for yellow, pink, and blue fancy colour diamonds’ performance in major global trading centres such as Hong Kong, New York, Geneva and Tel Aviv.
Nature bestows fancy colours on about one in every 10,000 rough diamonds of gem quality that are mined around the world.
The precious stones that can be blue, pink or green form a special asset class, relying on a consumer preference for exotic and unusual items. This also means they are less affected by other factors driving supply and demand in the main diamond market.
The Sakura ring was the star at Christie’s Hong Kong, setting a world-record auction price for a purple-pink diamond.
The cushion-cut, 15.81-carat, fancy-vivid, internally flawless stone sold within its estimate for $29.3 million, or $1.9 million per carat, at the May 23 Magnificent Jewels auction, Christie’s said Sunday. The piece, purchased by a private Asian buyer, was also the most valuable jewel sold at auction so far this year. Overall, the Hong Kong sale raked in $76.8 million, the auction house’s highest total for a jewelry auction in four years.
“We are very excited to have marked another important chapter in jewelry-auction history today, with The Sakura realizing a record-breaking price,” said Vickie Sek, chairman of Christie’s Asia Pacific jewelry department. “The strong sell-through rates and exceptional prices achieved for top-quality colored diamonds and gemstones reflect a robust market demand.”
However, even with the record pricing, the pink diamond still fell short of its $38 million high estimate.
“I would not consider this to be at the lower end of the market price, but there was room for it to go [further] if the current economic stability and situation was better,” Harsh Maheshwari, executive director of colored-diamond dealer Kunming Diamonds, told Rapaport News. “Post-Covid-19, if a similar item were to be auctioned, it would possibly touch, or break, the higher end of the estimated price.”
Meanwhile, The Sweet Heart, a heart-shaped, 4.19-carat, fancy-vivid-pink diamond ring, brought in $6.6 million, or $1.6 million per carat, within its presale valuation.
Other notable items include a necklace with a 50.05-carat, D-flawless, type IIa briolette diamond pendant, which garnered $2.7 million. That price, which comes to $53,399 per carat, was just above its low estimate. A square emerald-cut, 31.17-carat, fancy-vivid-yellow, VS2-clarity diamond ring went for $2.2 million, smashing its high estimate, as did a Cartier necklace with diamonds and five Colombian emeralds weighing a total of 16.43 carats, which achieved $2.1 million.
Overall, Christie’s sold 82% of items on offer at the auction.
A 2.17-carat fancy vivid purplish pink diamond fetched $3.5m at auction, well above its high estimate of $2.5m.
It was the most expensive of a “Perfect Palette” of three colored diamonds that raised a total of $8.4m last week at Christie’s New York April Magnificent Jewels.
The pink diamond (pictured) was a cut-cornered square modified brilliant-cut stone, natural color, SI1 clarity, set with round diamonds in a platinum and 18k yellow gold ring.
A fancy vivid blue cut-cornered rectangular modified brilliant-cut diamond of 2.13 carats, natural color, VS1 clarity, set in a platinum ring with round diamonds, sold for $2.67m (high estimate $3m).
And a fancy vivid orange cut-cornered rectangular modified brilliant-cut diamond of 2.34 carats, natural color, VS1 clarity, set in platinum and 18k yellow gold, sold for $2.19m (high estimate $2.5m).
The sale of over 200 lots – including signed pieces by Belperron, Bulgari, Cartier, Graff, Harry Winston, Hemmerle, JAR, Lacloche, Tiffany & Co., and Van Cleef & Arpels – brought in a total of $35m.
Christie’s said there were bids from 40 countries and 94 per cent of lots were sold.
Prices of fancy-color diamonds slipped marginally in the fourth quarter of 2020 as stability in the yellow category helped the sector stave off a heavier slump, according to the Fancy Color Research Foundation (FCRF).
“Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy-color diamond prices proved to be resilient, with minor price decreases across the board,” the FCRF said Monday.
The organization’s Fancy Color Diamond Index for yellows inched down 0.3% year on year in the three months ending December 31, while prices for blues fell 1.3%. Pink fancy-color diamonds decreased 0.9%, with the overall index slipping 0.8%.
The 1.50- and 5-carat categories were the strongest for fancy blues, increasing 0.5% versus the previous quarter, while fancy-vivid blues decreased 0.6%, led by soft prices for 1-carat stones in that category. Pinks stayed mainly flat compared to the third quarter, with 2-carat fancy pinks seeing the highest rise, up 1.4%. In yellows, the fancy-intense, 5-carat segment grew 0.8%, and the price for fancy-vivid, 3-carat stones was up 0.7%. Fancy-yellow, 1.50-carat diamonds increased 0.6% during the period.
The FCRF believes prices of yellows will continue to remain strong throughout 2021.
“2020 was a fascinating year; wholesalers and retailers alike had to overcome many logistical hurdles in order to finalize simple transactions, while demand for fancy-color diamonds was solid,” said FCRF advisory board member Eden Rachminov. “I expect 2021 to be a bullish year for yellows; their current price is relatively low and I think that a price increase is inevitable.”
The index tracks prices of yellow, pink and blue fancy-color diamonds in Hong Kong, New York, Geneva and Tel Aviv.
London jeweller Graff has acquired what founder Laurence Graff, a man known by his moniker The King of Diamonds, has described as “the most vivid pink rough diamond I have ever seen”.
The incredibly rare 13.33ct pink diamond was unearthed at the Letšeng mine in Lesotho, Africa, by miner Gem Diamonds in February. The Letšeng mine is famed for its high yield of very valuable and large rough diamonds.
While the diamonds to emerge from Letšeng consistently achieve the highest price per carat of any rough diamonds in the world, Graff has set a new record with the acquisition of the 13.33ct pink diamond. The stone, which has since been named the Graff Lesotho Pink, was purchased by Graff for US$8.75 million, making it the most expensive diamond on a dollar per carat basis to ever have emerged from the mine.
“This is the most vivid pink rough diamond I have ever seen, and it is an exceptionally rare treasure,” said Mr Graff. “We are renowned for cutting and polishing exceptional diamonds, and I am sure the polished diamond that comes from this rough will be an auspicious addition to our roll call of famous gems. It is an enormous privilege to own this natural miracle. We may never see anything like it again.”
The Graff Lesotho Pink diamond is now in the hands of Graff’s master diamond cutters, who will assess the rough stone’s potential and decide what are the optimum cut to make out of the rough will be.
Renowned jeweller Harry Winston purchased the exceptional pink diamond for more than $50 million USD.
The rectangular cut, 18.96 carat, fancy vivid pink diamond sold for $50.4 million at the Christie’s Magnificent Jewels sale in Geneva.
The diamond previously owned by the Oppenheimer family of South Africa had a presale estimate of $30 million to $50 million. The new owners have renamed the stone the Winston Pink Legacy.
“This exceptional diamond captured the imagination of international collectors across the globe, with over 30,000 people visiting Christie’s sale previews to see this remarkable stone,” said Rahul Kadakia, Christie’s international head of jewelry. “It has taken its rightful place among the world’s greatest diamonds.”
Magnificent Jewels auction sold 86% of lots grossing a total of $110.2 million USD.
The largest and finest fancy vivid pink diamond ever offered at auction by Christie’s it’s about to go under its hammer in Geneva, with experts expecting it to fetch a record price of between $30 million and $50 million.
The Pink Legacy was once owned by the Oppenheimer family, the former owners of De Beers.The rectangular cut diamond, named Pink Legacy, was once part of the Oppenheimer collection, Christie’s said, referring to the family who built De Beers into the world’s No. 1 diamond producer.
It’s rated “vivid”, which is the highest rating for a diamond’s colour, as it displays the optimum hue of the stone. At 18.96 carats, is also the largest fancy vivid pink diamond Christie’s has ever offered and it would lead its Magnificent Jewels auction in November.
“To find a diamond of this size with this colour is pretty much unreal,” Rahul Kadakia, International Head of Jewellery at Christie’s said in a statement. “You may see this colour in a pink diamond of less than one carat. But this is almost 19 carats and it’s as pink as can be. It’s unbelievable.’
Scientists classify diamonds into two main “types” Type I and Type II. In the latter, the diamond has a particularly rare, almost homogenous colour. “Pink diamonds fall under the rare Type IIa category of diamonds,” Kadakia said. “These are stones that have little if any trace of nitrogen, and make up less than two per cent of all gem diamonds. Type IIa stones are some of the most chemically pure diamonds often with exceptional transparency and brilliance.”
Pink Diamonds have been fetching record prices at auctions. The 59.6 carat Pink Star diamond, in fact, sold for $71.2 million in April last year, becoming most expensive gem ever sold that way.
In November, another pink rock set in a ring embellished with smaller diamonds sold for about $32 million at Christie’s in Hong Kong after a three-minute contest.
The Pink Legacy will be shown in Hong Kong, London and New York before being auctioned in Geneva on Nov. 13.